The Bank of New York Appointed by ACOM CO., LTD. as Depositary Bank
NEW YORK, September 14, 2005 -- The Bank of New York, a global leader in securities servicing, has been appointed depositary bank by ACOM CO., LTD. (ACOM) for its sponsored American depositary receipt (ADR) program. Four ACOM ADRs represent one ordinary share. The ADRs trade on the over-the-counter market under the symbol "ACMUY," and the ordinary shares trade on the Tokyo Stock Exchange.
Tokyo-based ACOM provides consumer financial services, which are divided into four business segments: loans, credit cards, installment sales finance, and guarantees. Additional information on the company is available at www.acom.co.jp/ir/english.
Shigeyoshi Kinoshita, president and chief executive officer of ACOM, said, "Once we decided to establish a sponsored ADR program, we wanted to work with the depositary bank that would help generate the greatest visibility for our program in the United States. We are confident that The Bank of New York’s expertise and market outreach initiatives can do just that."
Christopher Sturdy, managing director and Head of The Bank of New York's Depositary Receipt Division, said, "We maintain a strong presence in the Asia-Pacific region and have an extensive knowledge of the local market as a result. This, combined with our experience with the U.S. buy- and sell-side communities, gives us the knowledge we need to help ACOM's ADR program gain broad exposure among U.S. investors."
The Bank of New York sponsors more than 1,190 American and global depositary receipt programs, a 64% market share, acting in partnership with leading companies from 60 countries. With an unrivalled commitment to helping securities issuers succeed in the world's rapidly evolving financial markets, the Bank delivers the industry’s most comprehensive suite of integrated depositary receipt, corporate trust and stock transfer services. Additional information is available at www.adrbny.com.
The Bank of New York has been conducting business in the Asia-Pacific region for over 50 years. The Company has 17 offices in 12 countries in the region, including full-service branches in Shanghai, Tokyo, Hong Kong, Singapore, Seoul, and Taipei, and employs over 1,500 staff.
The Bank of New York Company, Inc. (NYSE: BK) is a global leader in providing a comprehensive array of services that enable institutions and individuals to move and manage their financial assets in more than 100 markets worldwide. The Company has a long tradition of collaborating with clients to deliver innovative solutions through its core competencies: securities servicing, treasury management, investment management, and individual & regional banking services. The Company's extensive global client base includes a broad range of leading financial institutions, corporations, government entities, endowments and foundations. Its principal subsidiary, The Bank of New York, founded in 1784, is the oldest bank in the United States and has consistently played a prominent role in the evolution of financial markets worldwide. Additional information is available at www.bankofny.com.
The Bank of New York provides no advice nor recommendation or endorsement with respect to any company or security. Nothing herein shall be deemed to constitute an offer or solicitation of an offer to buy or sell securities.
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