SCAPIN-1617: JOINT APPLICATION OF MAIZURU DEVELOPMENT COMPANY, LTD. (MAIZURU SHINKO K.K.), AND OSAKA COMMERCIAL STEAMSHIP COMPANY, LTD. (OSAKA SHOSEN K.K.), FOR REMOVAL OF FORMER COMPANY FROM SCHEDULE OF RESTRICTED CONCERNS
GENERAL HEADQUARTERS
SUPREME COMMANDER FOR THE ALLIED POWERS
APO 500
19 April 1947
AG 004
(19 Apr 47)
ESS/AC
(SCAPIN - 1617)
| MEMORANDUM FOR | Imperial Japanese Government |
|---|---|
| THROUGH | Central Liaison Office, Tokyo |
| SUBJECT | Joint Application of Maizuru Development Company, Ltd. (Maizuru Shinko K.K.), and Osaka Commercial Steamship Company, Ltd (osaka Shosen K.K.), for Removal of Former Company from Schedule of Restricted Concerns. |
1. References are the following memoranda:
a. Central Liaison Office Memorandum No. 6113 (LO 2102/1203), dated 18 November 1946, subject: Joint Application of Maizuru Promotion Co., Ltd. and Osaka Commercial Steamship Co., Ltd. for Release of the Former From Schedule of Restricted Concerns.
b. Memorandum for the Imperial Japanese Government from General Headquarters, Supreme Commander for the Allied Powers, AG 004 (8 Dec 45) ESS/AC (SCAPIN-403), dated 8 December 1945, subject: Establishment of a Schedule of Restricted Concerns.
c. Memorandum for the Imperial Japanese Government from General Headquarters, Supreme Commander for the Allied Powers, AG 004 (4 Jun 46) ESS/AC (SCAPIN-998), dated 4 June 1946, subject: Addition of Nippon Mail Steamship Company, Ltd, and Subsidiaries; Osaka Commercial Steamship Company, Ltd, and Subsidiaries; and Yamashita Steamship Company, Ltd, and Subsidiaries to Schedule of Restricted Concerns.
2. Reference memorandum 1a, above, forwards joint application of Maizuru Development Company, Ltd, and Osaka Commercial Steamship Company, Ltd, for removal of the former company from the Schedule of Restricted Concerns established by reference memorandum 1b, above, which it was added by reference memorandum 1c, above.
3. Maizuru Development Company, Ltd, is hereby removed from the Schedule of Restricted Concerns and additions thereto, referred to in paragraphs 1b and 1c, above, repectively.
FOR THE SUPREME COMMANDER:
/s/ R. G. Hersey
for /t/ R. M. LEVY,
Colonel, A. G. D.,
Adjutant General
MEMO FOR RECORD : (SCAPIN - 1617)
9 April 1947
1. CLO Memorandum No. 6113 (LO 2102/1203), dated 18 November 1946, forwards joint application of Maizuru Development Company, Ltd, and Osaka Commercial Steamship Company, Ltd both added on 4 June 1946 to the Schedule of Restricted Concerns established by SCAP Memorandum AG 004 (8 Dec 45) ESS/AC (SCAPIN-403), subject: "Establishment of a Schedule of Restricted Concerns," for the removal of Maizuru Development Company, Ltd, from the Schedule of Restricted Concerns.
2. a. The Maizuru Development Company, Ltd, capitalized at \1,000,000 and with total assets of \1,445,151 was established 26 June 1940 for the purpose of transporting passengers, by bus, in the vicinity of Kyoto. The company was restricted on the basis of a ten (10) percent stock ownership by Osaka Commercial Steamship Company, Ltd, as indicated on reports submitted by the latter company during May 1946. However, it has been established that this ten (10) percent ownership was removed on 1 June 1946, three (3) days previous to the date of restricting the company. The shares were sold to seven (7) officials of the Maizuru Development Company, Ltd, a fact which has been verified by the Holding Company Liquidation Commission.
b. As a result of the disposal of the shares owned by Osaka Commercial Steamship Company, Ltd, the chief shareholders of the company now are as follows:
Name Number Percentages Zaibatsu Connection
Fuso Metal Company Osaka Sumitomo 2,000 10 Sumitomo Honsha, Ltd.
Marine Insurance Company 1,200 6 Sumitomo Honsha, Ltd.
Kansai Mining Company 1,000 5 None
Oriental Linoleum Company 1,000 5 None
Osaka Building Company 1,000 5 Osaka Commercial Steamship Company, Ltd.
Naomi Kawamoto 1,400 7 None
All of the above listed Zaibatsu-owned shares will, at some future date, be transferred to the Holding Company Liquidation Commission who will dispose of them in accordance with the provisions of Imperial Ordinance No. 567. Pending the actual transfer of the shares the Commission is to be assigned the voting rights.
3. Additional facts relating to the company are summarized as follows:
a. Officials of the company have no connection with other companies.
b. No evidence exists of any form of monopoly.
c. Securities owned by the company are negligible, amounting to only \7,000.
d. Stock ownership is widely distributed.
4. In view of the above facts, no objection is offered to the above application.
5. This is an administrative matter, and no surveillance by the Eighth Army is required.
6. The interests of USAFIK are not concerned.
7. Concurrences: ESS/LE (Mr. E. J. Carrington).
E. C. W. 26-6561
