Tokyo, Japan - April 26, 2001 - Trend Micro Inc. (Nasdaq: TMIC, TSE: 4704), a worldwide leader in network antivirus and Internet content security solutions, has today announced that the Board of Directors of the Company, at its meeting held on April 26, 2001, resolved to dissolve and liquidate its subsidiary, IP Trend K.K. ("IP Trend") as follows.
The Company has an affiliate of the same trade name, IP Trend K.K., which has its address at 13-9, Nihonbashi-ningyo-cho 2-chome, Chuo-ku, Tokyo. This affiliate is expected to continue to conduct its business and will not be affected by the dissolution and liquidation in question.
1. Reason for and Method of the Dissolution and Liquidation
The Company has decided to dissolve and liquidate IP Trend, which is currently inactive and has no plan to restart its business.
2. Outline of IP Trend
(1) Trade Name: IP Trend K.K.
(2) Representative: Mahendra Negi
(3) Address: 2-1, Yoyogi 2-chome, Shibuya-ku, Tokyo
(4) Incorporation date: January 18, 2000
(5) Capital: ¥2,000 million
(6) Issued shares: 40,000 shares
(7) Shareholding: 100% owned by Trend Micro Incorporated
(8) Description of business: Manufacturing and marketing of software relating to Internet platform technologies and providing related services
(9) Business results for the latest fiscal year:
FY 2001 (Fiscal year ended on
December 31, 2000)
Sales ¥0 million Gross Profit ¥0 million Operating Income (¥107 million) Ordinary Income (¥126 million) Net Income (¥127 million) Total Assets ¥1,873 million Shareholders' Equity ¥1,872 million Net Income per Share (¥3,181) Shareholders' Equity per Share ¥46,818 Dividend per Share ¥0
Note: Financial data for IP Trend is only available for the one fiscal year mentioned above, since IP Trend was incorporated on January 18, 2000.
3. Liquidation Plan
It is expected that the liquidation of IP Trend will be completed in the latter half of FY 2001.
4. Outlook for the Future
The proposed dissolution and liquidation of IP Trend will not affect, and will not result in any change in, the Company's consolidated and unconsolidated projections for FY 2001.
Trend Micro Incorporated (TSE: 4704), a global cloud security leader, creates a world safe for exchanging digital information with its Internet content security and threat management solutions for businesses and consumers. A pioneer in server security with over 20 years' experience, we deliver top-ranked client, server and cloud-based security that fits our customers' and partners' needs, stops new threats faster, and protects data in physical, virtualized and cloud environments. Powered by the Trend Micro™ Smart Protection Network™ cloud security infrastructure, our industry-leading cloud-computing security technology, products and services stop threats where they emerge, on the Internet, and are supported by 1,000+ threat intelligence experts around the globe.
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