Chicago, Illinois, September 6, 2006 – Mori Seiki USA, an internationally recognized machine tool manufacturer of machining centers and CNC lathes, has announced that it is now offering shares of the Company in the United States.
Mori Seiki Co., Ltd. has established an American Depository Receipt (ADR) program, which will allow the distribution of the shares in the United States in the form of ADRs. The ADR program will not be accompanied by a listing or capital raising, such as an issuance of new shares of Mori Seiki.
Mori Seiki established the ADR program to develop new investors and expand the base of investors, by enhancing investor service and broadening the choices in available investment instruments in the U.S. capital market. Thus far, Mori Seiki has focused efforts on IR activities in the U.S., and expects that the establishment of the ADR program will lead to greater recognition of Mori Seiki Co., Ltd. in the U.S.
“I am pleased to enter this area of the investment market in the Unites States,” said Dr. Masahiko Mori. “Mori Seiki is proud to be a driving force in the global manufacturing industry, and with this program, we reinforce our commitment in one of the world’s most important markets.”
The Mori Seiki ADR program, which began January 26, 2006, is Sponsored Level 1 and will be traded over-the-counter at a 1:1 ADR to ordinary share ratio. The Mori Seiki ADR program concludes a depositary agreement with the issuing bank, The Bank of New York.
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