After the transaction, the merging parties’ market share recorded 92% in
upright piano market, 64.4% in the grand piano, and 63.4% in the digital
piano(based on 2003 sales number), making it the leading player in all three
product categories and widening the gap against the second player by 85.5%,
45.3% and 31.4% respectively. The proposed merger met the presumptive
conditions for anticompetitive merger in pursuant to Article 7 Paragraph 4
Item 1 of the MRFTA.