June 29, 2006

 

Notice Regarding Change of Independent Auditor 

At the 28th ordinary general meeting of shareholders on June 29, 2006, Sanix Incorporated (Ticker: 4651,TSE/OSE/FSE, President & CEO: Shin-ichi Munemasa) resolved an issue of appointment of its independent auditor. This issue was also approved by the Board of Corporate Auditors.
 

1. Reason for Appointing a New Independent Auditor

The Companyfs independent auditor, ChuoAoyama PricewaterhouseCoopers, was ordered to suspend operations for two months from July 1, 2006 to August 31, 2006 by Financial Services Agency. Due to their suspension of services on July 1, 2006, the auditing firm will resign as independent auditor for Sanix on that day.

The auditing firm has conducted fair and reasonable auditing for Sanix. Moreover, the auditing firm has responded sincerely to the administrative penalty. We received explanations on their overall restructuring plan to prevent similar incidents in the future, and consider the auditing firmfs familiarity with Sanixfs business and the importance of continuity in auditing. As a result, the Company has decided that the auditing firm will continue to be qualified as our independent auditor. Consequently, at the 28th ordinary general meeting of shareholders on June 29, 2006, Sanix has resolved to reappoint the auditing firm as Sanixfs independent auditor on September 1, 2006, after their term of business cessation completes.

During the period of suspension of the firmfs auditing business, the Board of Corporate Auditors considers appointing a temporary auditor pursuant to the provisions set forth in Article 346, Paragraph 4 and 6 of the Corporation Law in order to ensure continuous and reliable auditing operations.

2. Independent Auditor to Resign / Reappoint

Name F ChuoAoyama PricewaterhouseCoopers
Address F 3-2-5 Kasumigaseki, Chiyoda-ku, Tokyo, Japan
Date of Changes F Resignation / July 1, 2006
Reappointment / September 1, 2006 (scheduled date)

 

For more information, please contact:
Kozo Inoue, Managing Director
E-mail: k-inoue@sanix.co.jp