SCAPIN-1619: APPLICATION OF JAPAN OIL AND PAINT COMPANY. LTD. (NIPPON YUSHI K.K.), FOR REMOVAL FROM THE SCHEDULE OF RESTRICTED CONCERNS
GENERAL HEADQUARTERS
SUPREME COMMANDER FOR THE ALLIED POWERS
APO 500
19 April 1947
AG 095
(19 Apr 47)
ESS/AC
(SCAPIN - 1619)
| MEMORANDUM FOR | Imperial Japanese Government |
|---|---|
| THROUGH | Central Liaison Office, Tokyo |
| SUBJECT | Application of Japan Oil and Paint Company, Ltd (Nippon Yushi K. K.), for Removal from the Schedule of Restricted Concerns |
1. References are the following:
a. Central Liaison Office Memorandum No. 5699 (LO 1885/1101), dated 28 October 1946, subject: Application of Nippon Oil and Paint Co., Ltd. for Its Release 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, SCAP, AG 004 (21 May 46) ESS/AC, (SCAPIN 972), dated 21 May 1946, subject: Addition of Nissan Chemical Industry Company, Ltd, and its Subsidiaries to Schedule of Restricted Concerns.
2. Reference Memorandum la, above, forwards application of Japan Oil and Paint Company, Ltd, for removal from the Schedule of Restricted Concerns established by reference memorandum 1b, above, to which it was added by reference memorandum 1a, above.
3. The Japan Oil and Paint Company, Ltd, is hereby removed from the Schedule of Restricted Concerns and the additions thereto, referred to in paragraph 1b and c, above.
FOR THE SUPREME COMMANDER:
/s/ R. G. Hersey
for /t/ R. M. LEVY,
Colonel, A. G. D.,
Adjutant General
MEMO FOR RECORD : (SCAPIN - 1619)
31 March 1947
1. CLO Memorandum No. 5699 (LO 1885/1101), 28 October 1946, forwards application of Japan Oil and Paint Company, Ltd, a subsidiary of Nissan Chemical Industrial Company, Ltd, and added on 21 May 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 its removal from the Schedule of Restricted Concerns.
2. a. Japan Oil and Paint Company, Ltd, has a capital of 促70, 000 and assets of over 促77, 514. It is not presently in operation.
b. This company closed its business on 15 June 1943, subsequently selling all equipment. The applicant was preparing for liquidation at the time it was added to the Schedule of Restricted Concerns. It has no physical property remaining.
c. A resume of the company's financial condition as of 30 November 1946, follows:
ASSETS
Cash Deposits
First Restricted Account \39,341.30
Second Restricted Account \27,000.00 \66,341.30
Investments 431.00
Accounts Receivable 5, 980. 87
Advance Payments 6,015.23
Total \78,768.40
LIABILITIES AND SURPLUS
Capital Stock \70,000.00
Net Surplus 8,768.40
Total \78,768.40
Stockholders Shares % Held
Nissan Chemical Industrial Company, Ltd. 1200 85.7
The Estate of Masaki Ishibashi 200 14.3
1400 100.0
d. The applicant requests it be removed from the Schedule of Restricted Concerns so that it can liquidate its assets and apportion the values received thereby to the stockholders on a pro-rate basis. The company then will be completely out of existence. The Holding Company Liquidation Commission is prepared to set up a bank account in the name of Nissan Chemical Industrial Company, Ltd, to which these funds can be transferred so that the Nissan Chemical Industrial Company, Ltd, will gain no profit by this procedure. There is no reason for this company to remain in existence, therefore, no objection is offered to this application.
3. This is an administrative matter, and no surveillance by Eighth Army is required.
4. The interests of USAFIK are not concerned.
5. Concurrences: ESS/FI (Lt. Col. D. H. Jennings).
E. C. W. 26-6561
