Maruwa Regulatory News (MAW)

25 Aug 2006 08:12

Maruwa Co Ld25 August 2006 25 August 2006 MARUWA CO., LTD. 3-83 Minamihonjigahara-cho, Owariasahi-city, Aichi-pref., 488-0044 JAPAN (Translation) Notice regarding the appointment of an independent auditor MARUWA CO., LTD. ("MARUWA") would like to announce that the Audit Committee meton 25 August 2006, and passed a resolution appointing a temporary independentauditor in accordance with the Japanese Company Law article 346-4 and 346-6 asfollows; 1. Reasons for appointment ChuoAoyama PricewaterhouseCoopers ("ChuoAoyama"), whowas the independent auditor of MARUWA, was suspended from auditing by order ofthe Financial Services Agency of Japan on 10 May 2006 for the period 1 July 2006to 31 August 2006. Accordingly, they lost the status and resigned from beingMARUWA's independent auditor. The Audit Committee had considered appointing a temporary independent auditor toavoid the absence of an independent auditor for that period, but have notreached appointment. In this situation, the Audit Committee decided toreappoint ChuoAoyama as our temporary independent auditor on 1 September 2006after the suspension period ends in consideration of ChuoAoyama's understandingof our business and accounting policy, past auditing performance, theconsistency of auditing, and the progress of internal reforms by ChuoAoyama. 2. Reappointed independent auditor ChuoAoyama PricewaterhouseCoopers* Kasumigaseki Bldg., 3-2-5 Kasumigaseki, Chiyoda-ku, Tokyo, Japan *Scheduled to be renamed to MISUZU Audit Corporation from 1 September 2006. 3. Date of engagement 1 September 2006 END This information is provided by RNS The company news service from the London Stock Exchange