September 30, 2003
Sumitomo heavy Industries, Ltd. decided today at a meeting of its Board of Directors to apply to the Frankfurt Stock Exchange for the delisting of the company's shares.
1.The reason for the withdrawal from the Frankfurt Stock Exchange
The trading volume of the company's shares at the Frankfurt Stock Exchange is very low and the costs of maintaining the listing are no longer justified. The company believes the delisting will have little effect on the shareholders and investors because the company's shares will continue to be listed on the Tokyo Stock Exchange and the Osaka Stock Exchange.
2. Delisting Schedule
The application for the delisting from the Frankfurt Stock Exchange will be made by the middle of October 2003, and the delisting will be expected to be completed subject to the Frankfurt Stock Exchange de-listing procedures by the end of March 2004.