Trend Micro Announces the Dissolution and Liquidation of Subsidiary  

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.