Source: BSAA Remote Desktop
Project Umbrella Translation
NEWS CONCERNING UMBRELLA'S BANKRUPTCY
PHARMA-COMPANY UMBRELLA'S DOMESTIC BUSINESS TO DISSOLVE
In response to the bankruptcy of the global pharmaceutical company "Umbrella", its Japanese subsidiary "Umbrella Japan Co., Ltd" (headquarters: Tokyo) has announced the company's dissolution and entered liquidation proceedings.
The domestic company was established in 1984 as Umbrella's Japanese subsidiary. At the time of its establishment, it was merely engaged in importing and distributing drugs developed in the USA, but in 1987, the "Umbrella Japan Laboratory" was constructed. It advanced unique research and product development utilizing our nation's forte in biotechnology.
Following the "Raccoon City tragedy" allegedly caused by Umbrella, however, its stock prices crashed.
Sales have also faltered in recent years, partly due to reputational damage.
After a multitude of lawsuits concerning the Raccoon City tragedy resulted in Umbrella Headquarters losing all its cases, the head office went bankrupt.
As a Japanese subsidiary the domestic company sought a takeover buyer, but since no interest was exhibited by any domestic or foreign pharma-companies or even enterprises in other industries, the company's dissolution was decided upon.
March 15th 2004
Excerpt from a certain newspaper's morning edition
PHARMA-COMPANY UMBRELLA'S DOMESTIC BUSINESS TO DISSOLVE
In response to the bankruptcy of the global pharmaceutical company "Umbrella", its Japanese subsidiary "Umbrella Japan Co., Ltd" (headquarters: Tokyo) has announced the company's dissolution and entered liquidation proceedings.
The domestic company was established in 1984 as Umbrella's Japanese subsidiary. At the time of its establishment, it was merely engaged in importing and distributing drugs developed in the USA, but in 1987, the "Umbrella Japan Laboratory" was constructed. It advanced unique research and product development utilizing our nation's forte in biotechnology.
Following the "Raccoon City tragedy" allegedly caused by Umbrella, however, its stock prices crashed.
Sales have also faltered in recent years, partly due to reputational damage.
After a multitude of lawsuits concerning the Raccoon City tragedy resulted in Umbrella Headquarters losing all its cases, the head office went bankrupt.
As a Japanese subsidiary the domestic company sought a takeover buyer, but since no interest was exhibited by any domestic or foreign pharma-companies or even enterprises in other industries, the company's dissolution was decided upon.
March 15th 2004
Excerpt from a certain newspaper's morning edition
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