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Nitto Denko to Transfer Graphic Technology's Business

12.2.2004

Nitto Denko has decided to sell the business of its consolidated subsidiary, Graphic Technology, Inc. (GTI), a bar code label manufacturer whose mainstay is retail shelf labels. The business will be sold to Vestcom International, a company based in Little Rock, Arkansas, that manufactures and sells bar code labels. Nitto Denko and Vestcom have come to the agreement outlined below.

1. Reason for business transfer

Nitto Denko acquired the US bar code label manufacturer GTI in October 1989 and endeavored to expand the bar code label business in the US market.
However, as a result of its decision in 2001 to carry out structural forms to improve productivity and to focus its resources on select businesses, Nitto Denko determined that it could not anticipate synergistic effects from GTI’s current business model, which focused on retail shelf labels, and Nitto Denko’s business strategy, which aimed to develop a business around industrial-use labels such as heat-resistant bar codes. Accordingly, Nitto Denko decided to sell GTI’s business to Vestcom International.

2. Schedule

November 30, 2004 Conclusion of business transfer contract
November 30, 2004 Date of business transfer

This business transfer will have a minimal effect on consolidated earnings.

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