SCAPIN-1903: REMOVAL OF OGAWAJIMA WHALING COMPANY, LTD FROM THE SCHEDULE OF RESTRICTED CONCERNS
GENERAL HEADQUARTERS
SUPREME COMMANDER FOR THE ALLIED POWERS
APO 500
8 June 1948
AG 004
(8 Jun 48)
ESS/AC
(SCAPIN - 1903)
| MEMORANDUM FOR | Japanese Government |
|---|---|
| SUBJECT | Removal of Ogawajima Whaling Company, Ltd, from the Schedule of Restricted Concerns |
1. References are the following memoranda for the Japanese Government from General Headquarters, Supreme Commander for the Allied Powers:
a. AG 004 (8 Dec 45) ESS/AC, SCAPIN 403, 8 December 1945, subject: Establishment of a Schedule of Restricted Concerns.
b. AG 095 (28 Jul 47) ESS/AC, SCAPIN 1753, 28 July 1947, subject: Addition to Schedule of Restricted Concerns of Hayashikane Company Ltd. (Hayashikane Shoten K.K.), and its Subsidiaries.
2. The Ogawajima Whaling Company, Ltd, placed on the Schedule of Restricted Concerns by reference memorandum paragraph 1b above is hereby removed from the Schedule of Restricted Concerns, reference memorandum paragraph 1a above.
FOR THE SUPREME COMMANDER:
/s/ A. J. Rehe
for /t/ R. M. LEVY,
Colonel, A.G.D.,
Adjutant General
MEMO FOR RECORD: (SCAPIN - 1903)
WFM/ECW/GRLJr/TTS/lf
3 Jun 48
1. References are:
a. Ministry of Finance Transmittal No. 1159/901 (Fl/RC), dated 20 May 1948, which forwards application of Ogawajima Whaling Company, Ltd, for permission to be removed from the Schedule of Restricted Concerns.
b. SCAP Memorandum AG 004 (8 Dec 45) ESS/AC, SCAPIN 403, subject: "Establishment of a Schedule of Restricted Concerns."
2. The Ogawajima Whaling Company, Ltd. was placed on the Schedule of Restricted Concerns, reference paragraph 1b, above, because it was the first line subsidiary of a designated holding company.
3. a. On 28 July 1947, the Ogawajima Whaling Company, Ltd, was restricted since 25,000 shares or 16% of its outstanding shares were held by Hayashikane Company, Ltd.
b. In compliance with Law No. 233 of 1946 the parent company transferred the stock it held in its subsidiaries to the Holding Company Liquidation Commission. This prevented the holding company from dissipating the assets of its subsidiary through management of the Company. Since the HCLC has now disposed of this stock to the employees, the company does not own any stock in other companies, United Nations interests are not involved, and the company is neither designated (Law No. 207) nor a special accounting company, there is no longer reason to keep the company on the Schedule of Restricted Concerns.
c. In view of the above, no objection is offered to the application.
4. This is an administrative matter and no surveillance by the Eighth Army is required.
5. The interests of USAFIK are not concerned.
6. Concurrences: None required.
Major P. H. Cullen - 26-6560
E. C. W.
