Investment towards Authent GC (Nikkei Sangyo newspaper)

Mar 16th, 2004

Kubota handed over the Nishi-Nippon Kubota Development’s (Osaka city) managing rights to Misawa Resort and RISA Partners; Nishi-Nippon Kubota Development operates Authent Golf Club in Kasai-city, Hyugo prefecture. The company is going through civil rehabilitation proceedings currently and plans to hand over the rights on August 1st.

Nishi-Nippon Kubota Development will proceed with 100% capital decrease while Misawa Resort will prepare over 70% and RISA will prepare the rest for the hand over. The company name will change at that time. Kubota will reimburse 50% of the deposit to the existing golf club members, and the rights to play remains after the hand over. The club employees become Misawa Resort’s subsidiary golf club management company’s employees.