New Sokkia Shares

Sokkia (Japan) has allocated 8,200,000 new shares worth 2,009 million JPY (US$ 21.016,97) to the Japanese company Phoenix Capital, giving the company a 22.9% share in Sokkia. In fiscal year 2003, ended on 31st March 2004 Sokkia made 21,421 million JPY (US$ 224.093,80) annual net sales and 632 million JPY (US$ 6.611.609,14) ordinary income. According to the first six months results for fiscal year 2004, Sokkia achieved 2.4% growth in net sales and 395.4% growth in ordinary income compared to the same period of the previous year. Sokkia decided to co-operate with Phoenix Capital given the current competitive market situation and future forecasts and will use the collaboration to invest in plant, machinery and product development.