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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
(RULE 13D-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO 13D-1(A) AND
AMENDMENTS THERETO FILED PURSUANT TO 13D-2(A)
(AMENDMENT NO. 4) /1/
PHOTRONICS, INC.
(Name of Issuer)
COMMON STOCK par value $.01 per share
-------------------------------------
(Title of Class of Securities)
719 405102
--------------------
(CUSIP Number)
Nicholas C. Unkovic, Esq.
GRAHAM & JAMES
One Maritime Plaza
San Francisco, CA 94111
(415) 954-0200
________________
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
March 26, 1999
(Date of Event Which Requires filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
Schedule because of Rule 13d-1(b)(3) or (4), check the following box [_].
Note. Six copies of this statement, including all exhibits, should be filed with
the Commission. See Rule 13d-1(a) for other parties to whom copies are to be
sent.
_____________________________
/1./ The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which would
alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 (the "Act") or otherwise subject to the liabilities of that section of the
Act but shall be subject to all other provisions of the Act (however, see the
Notes).
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CUSIP NO. 719 405102
------------
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NAME OF REPORTING PERSON
1
Toppan Printing Co., Ltd
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [X]
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SEC USE ONLY
3
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SOURCE OF FUNDS*
4
WC
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CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5
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CITIZENSHIP OR PLACE OF ORGANIZATION
6
Japan
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SOLE VOTING POWER
7
NUMBER OF 2,180,000
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
0
OWNED BY
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EACH SOLE DISPOSITIVE POWER
9
REPORTING 2,180,000
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
2,180,000
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
2,180,000
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[_]
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
9.17%
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TYPE OF REPORTING PERSON*
14
CO
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This Amendment No. 4 (the "Amendment") corrects Amendment 3 to a statement
on Schedule 13D dated September 30, 1993, filed by Toppan Printing Co., Ltd., a
Japanese corporation ("Toppan") relating to shares of Common Stock, $0.01 par
value per share (the "Stock") of Photronics, Inc., a Connecticut corporation
(the "Issuer").
Item 1. Security and Issuer
-------------------
The title of the class of equity securities to which this statement
relates is Common Stock, $.01 par value per share, of the Issuer.
The Issuer and the address of its principal executive offices are:
Photronics, Inc.
P.O. Box 5226
15 Secor Road
Brookfield, Connecticut 06804
Item 2. Identity and Background
-----------------------
(a)-(c)
and (f) Toppan is a corporation organized and existing under the
laws of Japan. The principal business address of Toppan is 1
Kanda Izumi-cho, Chiyoda-ku, Tokyo 101, Japan. Toppan is
engaged in numerous aspects of the printing industry,
including the development, manufacture and marketing of
photomask printing operations.
Set forth below is information concerning the name, business
address, and present principal occupation or employment of
all of the present executive officers and directors of
Toppan. Each such person is a Japanese citizen.
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Present Principal Occupation
Name and Business Address or Employment
- --------------------------------------------- ---------------------------------
Hiromichi Fujita President
1, Kanda Izumi-cho, Chiyoda-ku
Tokyo 101-0024, Japan
Kenji Ejima Executive Vice President
1, Kanda Izumi-cho, Chiyoda-ku
Tokyo 101,-0024, Japan
Naoki Adachi Executive Vice President
1, Kanda Izumi-cho, Chiyoda-ku
Tokyo 101-0024, Japan
Shinpei Hasegawa Senior Managing Director
11-1, Shimura 1-chome General Mgr./Info. & Publns. Div.
Itabashi-ku,
Tokyo 174-8558, Japan
Hiroshi Kidokoro Sr. Managing Director
22-61, Ebie 3-chome Kansai Rep.
Fukushima-ku, Oosaka-shi
Oosaka, 553-0001 Japan
Mikio Nakano Senior Managing Director,
Acropolis Tokyo Building General Manager of Packaging Div.
6-29, Shin Ogawa-machi
Shinjuku-ku,
Tokyo 162-8531, Japan
Tsuneyasu Kuromitsu Senior Managing Director,
1, Kanda Isumi-cho, Chiyoda-ku Gen. Mgr. of Human Resources
Tokyo 101-0024, Japan Management Div.
Tadao Masuda Senior Managing Director,
2-7, Yaesu 2-chome Gen. Mgr. Of Electronics Div.
Chuo-ku, Tokyo 104-0028, Japan
Masaharu Mitani Managing Director,
19 Nominami-cho, Nishi-ku Gen. Mgr. Of Chubu Area
Nagoya-shi, Aichi 452-8571
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Tohru Shimabukuro Managing Director,
1, Kanda Izumi-cho, Chiyoda-ku Gen. Mgr. Of Mfg., Tech &
Tokyo 101-0024, Japan Research Div.
Tetsuro Minami Managing Director,
1, Kanda Izumi-cho, Chiyoda-ku Gen. Mgr. Of International Div.
Tokyo 101-0024, Japan
Masao Tsuchiya Managing Director,
1, Kanda Izumi-cho, Chiyoda-ku Gen. Mgr. Of Business
Tokyo 101-0024, Japan Innovation Div.
Katsuo Amemiya Managing Director,
11-1, Shimura 1-chome Vice Gen. Mgr. Of Info & Publns.
Itabashi-ku, Div.
Tokyo 174-8558, Japan
Yukio Tagawa Managing Director,
2-7, Yaesu 2-chome Vice Gen. Mgr. Of Electronics
Chuo-ku, Tokyo 104-0028, Japan Div.
Yukio Oba Managing Director
5-1, Taito 1-chome Gen. Mgr. Of TIC Business
Taito-ku, Tokyo 110-8560, Japan Promotion Div.
Saburo Umeda Managing Director,
22-61, Ebie 3-chome Gen. Mgr. Of Kansai Area,
Fukushima-ku, Oosaka-shi Packaging Div.
Oosaka 553-0001, Japan
Shuji Higashida Managing Director,
5-1, Taito 1-chome Gen. Mgr. Of Multimedia Div.
Taito-ku, Tokyo 110-8560, Japan
Koichi Miyazaki Managing Director,
17-28 Yakuin 1-chome, Chuo-ku Gen. Mgr. Of Nishi-Nippon Area
Fukuoka-shi, Fukuoka 810-0022, Japan
Sawako Noma Director,
2-12-21, Otowa, Bunkyo-ku President of Kodansha Ltd.
Tokyo 112-0013, Japan
Hiromicho Kono Director,
5-1, Taito 1-chome Gen. Mgr. Of Securities
Taito-ku, Tokyo 110-8560, Japan Printing Div.
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Tatsuo Yamamoto Director,
5-1, Taito 1-chome Gen. Mgr. Of Commercial
Taito-ku, Tokyo 110-8560, Japan Printing Div.
Takeshi Toyama Director,
1, Kanda Izumi-cho, Chiyoda-ku Gen. Mgr. Of Corp. Planning Div.
Tokyo 101-0024, Japan
Hiroshi Kukimoto Director,
4-2-1, Takanodai-minami Gen. Mgr. Of Tech. Resch. Inst.
Sugito-cho, Kitakasushika-gun
Saitama 345-8508, Japan
Masayasu Ishida Director,
1, Kanda Izumi-cho, Chiyoda-ku Gen. Mgr. Of Legal Div.
Tokyo 101-0024, Japan
Akihiro Nagata Director,
1, Kanda Izumi-cho, Chiyoda-ku Gen. Mgr. Of Fin. & Acctg. Div.
Tokyo 101-0024, Japan
Yoshio Sakamura Director,
3-3, Akasi-Toori, Izumi-ku Gen. Mgr. Of Tohoku Area
Sendai-sshi, Miyagi 981-2196, Japan
Hideaki Kawai Director,
2-7, Taesu 2-chome Vice Gen. Mgr. Of Electronics
Chuo-ku, Tokyo 104-0028 Japan Div.
Takashi Owaki Director,
22-61, Ebie 3-chome Gen. Mgr. Of Kansai Area,
Fukushima-ku, Oosaka-shi Commercial Printing Div.
Oosaka 553-0001, Japan
Yukio Natori Director,
1, Kanda Izumi-cho, Chiyoda-ku Gen. Mgr. Of Purchasing Div.
Tokyo 101-0024, Japan
Hiroshi Inoue Director,
17-28, Yakuin 1-chome, Chuo-ku Gen. Mgr. Of Kyuchuu Div.,
Fukuoka-shi, Fukuoka 810-0022, Japan Nishi-Nippon Area
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Yoshiaki Tsuneda Director,
Acropolis Tokyo Building General Manager of Tokyo Area,
6-29, Shin Ogawa-machi Packaging Div.
Sinjuku-ku, Tokyo 162-8531, Japan
Toshihiko Akiyama Director,
11-1, Shimura 1-chome Vice Gen. Mgr. Of Info. &
Itabashi-ku, Tokyo 174-8558, Japan Publns. Div.
Seisaku Okumura Standing Statutory Auditor
1, Kanda Izumi-cho, Chiyoda-ku
Tokyo 101-0024, Japan
Hideo Yuasa Standing Statutory Auditor
1, Kanda Izumi-cho, Chiyoda-ku
Tokyo 101-0024, Japan
Jiro Kawake Statutory Auditor,
1, Kanda Izumi-cho, Chiyoda-ku Advisor of Oji Paper Ltd.
Tokyo 101-0024, Japan
Kohken Tsuchiya Statutory Auditor
1, Kanda Izumi-cho, Chiyoda-ku
Tokyo 101-0024, Japan
(d)-(e) During the last five years, neither Toppan, nor any of
the persons listed above, has been convicted in a
criminal proceeding or been a party to a civil
proceeding of a judicial or administrative body of
competent jurisdiction and as a result of such
proceeding been subject to a judgment, decree or final
order enjoining future violations of, or prohibiting or
mandating activities subject to, Federal or State
securities laws or finding any violation with respect
to such laws.
Item 3. Source and Amount of Funds or Other Consideration.
--------------------------------------------------
No change.
Item 4. Purpose of Transaction.
----------------------
Toppan acquired the Issuer's Stock for investment purposes and to
develop a relationship of mutual cooperation between Toppan and
the Issuer.
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Toppan sold 500,000 shares on 9/25/98, sold 250,000 shares on
12/22/98, and sold 250,000 shares on 3/26/99, for a total of (one
million) 1,000,000 shares of the Stock back to the Issuer, as
more fully described under Item 6 below.
(a) - (j) Not applicable.
Except as set forth above, Toppan has no present plans or
intentions which would result in or relate to any of the
transactions required to be described in subparagraphs (e)
through (j) of Item 4 of Schedule 13D, although Toppan may,
depending upon the factors set forth above, and other
considerations, determine to pursue one or more such
transactions.
Item 5. Interest in Securities of the Issuer
------------------------------------
(a) - (b) Toppan owns 2,180,000 shares of Common Stock, $.01 par
value per share of the Issuer, which constitutes
approximately 9.17% of the issued and outstanding
common stock of the Issuer. To the best knowledge of
Toppan, none of the directors or executive officers of
Toppan listed in Item 2 beneficially own any Common
Stock of the Issuer. Toppan has sole power to vote and
dispose of all 2,180,000 shares owned by it.
(c) Description of any transactions in the class of
securities reported on that were effected during the
past sixty days or since the most recent filing on
Schedule 13D: See Item 6 below.
(d) - (e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships with
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Respect to Securities of the Issuer
-----------------------------------
Pursuant to the Stock Purchase Agreement (the "Stock Purchase
Agreement"), dated September 13, 1993, by and among the Issuer
and Toppan, a copy of which was filed as an exhibit to the
Schedule 13D filing for the Issuer dated September 30, 1993 [the
"Original Schedule 13D"] (CUSIP No. 719 405102) and incorporated
thereto by reference, Toppan was subject to certain "Standstill
Provisions" and provisions restricting the sale of stock by
Toppan. Such provisions terminated on Oct. 1, 1998.
Toppan and the Issuer agreed upon a sale back to the Issuer of a
total of 1,000,000 (one million) shares of the Stock held by
Toppan. Pursuant to a letter agreement dated September 22, 1998,
from the Issuer to Toppan (the
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"Agreement"), the terms and schedule of this sale agreement have
been consummated as follows:
a) On September 25, 1998, under the Agreement, the Issuer
purchased 500,000 shares at a price of $13.50 per share;
b) On December 22, 1998, the Issuer purchased 250,000 shares at a
price of $13.70 per share;
c) On March 26, 1999, the Issuer purchased 250,000 shares at a
price of $13.90 per share.
d) All of the shares sold to the Issuer by Toppan have been
delivered against payment free and clear of all liens, claims
and encumbrances.
Item 7. Material to be Filed as Exhibits
--------------------------------
Letter from the Issuer to Toppan dated September 22, 1998
containing the terms of the Agreement.
SIGNATURE
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After reasonable inquiry and to the best of my knowledge and belief. I certify
that the information set forth in this statement is true, complete and correct.
Dated: April 14, 1999
TOPPAN PRINTING CO., LTD.
By: /s/ Akihiro Nagata
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Name: Akihiro Nagata
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Title: Director, Finance & Accounting Division
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