Taihei Company, Ltd.

September 21, 1983 Taihei Company, Ltd. Rm. 1501, Marbella 1 Bldg. 2223 Roxas Blvd.,Pasay City Metro Manila Attention : Mr . Hiroshi Shinga Sir : This refers to your letter dated August 27, 1983 informing this Office that Taihei Company, Ltd. is only a representative office authorized by the Board of Investments (BOI) as such under Certificate of Authority No. 1203, issued on January 22, 1980, which under Section 1(4) of the "Guidelines for the Investment Requirement under Section 126 of the Corporation Code of the Philippines", is exempted from the investment deposit required for foreign corporations doing business in the Philippines. cdll A perusal of the corporate records of Taihei Company, Ltd.,however, disclosed that subject company was duly licensed with the Securities and Exchange Commission, not merely as a representative office but as a branch office authorized to engage in the following business: a) to export to Japan various kinds of animal feeds such as sea shells, ipil-ipil and wastes of molasses and wooden doors, knocked-down kitchen cabinets for bedrooms; b) to find out the possibility of a joint venture with Filipino agricultural cooperatives or business firms; and c) to seek a suitable shipyard to produce its Cargo Landing Barge (CLB) System and to export the same to Middle East Countries. In this connections please be informed that in order to legally effect any change of its purposes, Section 131 of the Corporation Code of the Philippines must be complied with. The Law provides thus: SECTION 131. Amended License . A foreign corporation authorized to transact business in the Philippines shall obtain an amended license in the event it changes its corporate name, or desires to pursue in the Philippines other or additional purposes, by submitting an application therefor to the Securities and Exchange Commission, favorably endorsed by the appropriate government agency in the proper cases. (emphasis supplied). Thus, in order to be considered as a representative office, subject corporation has to file an application therefor with the Securities and Exchange Commission. LexLib Please be advised accordingly. Very truly yours, (SGD.) GONZALO T. SANTOS, JR. Associate Commissioner