Minebea Co., Ltd.
Tokyo Stock Exchange First Section
Code No. 6479
President and Representative Director
Contact: Sadahiko Oki, Director, Acounting.
Minebea Sets Up Sales Firms in China
Minebea's board of directors meeting today resolved to incorporate Hong Kong Branch of Minebea Trading Pte. Ltd. (MTL), a subsidiary of Minebea, and its regional offices of MTL in Shenzhen and Shanghai as the local trading companies in China. The following outline particulars.
April this year saw Minebea newly strengthening its sales-marketing structure in Asia outside Japan in an attempt to intensify its sales-marketing activities in the region in the following way.
Former organization: MTL used to supervise its regional sales-marketing base in Singapore, Thailand, South Korea, Taiwan, Malaysia, the Philippines, India, Hong Kong, Shanghai, and Shenzhen.
New organization: the MTL Singapore sales-marketing headquarters and the MTL Hong Kong sales-marketing headquarters are newly formed, with the former to be responsible to manage the regional sales-marketing base in Singapore, Thailand, Malaysia, the Philippines, and India, while the latter supervising the regional sales-marketing base in Hong Kong, Shanghai, Shenzhen, South Korea, and Taiwan.
Now that our products' major customers at home as well as overseas are accelerating transfer of their productions to the China forming a growing market for our products, we need to expand our sales there while further strengthening our efforts to develop new market. These necessities have led us to incorporate new sales companies in Hong Kong, Shenzhen and Shanghai, respectively.
2.Profile of Our Newly Established Subsidiaries
|1) Company names:||Minebea (Hong Kong) Ltd., Minebea (Shenzhen) Ltd., and Minebea Trading (Shanghai) Ltd.|
|2) Representative Executives||
|4) Incorporation:||Scheduled for September 2002.|
|5) Start of business:||Scheduled for November 18, 2002.|
|6) Main businesses||
|7) Fiscal year||(1)Hong Kong: April to March
(2)Shenzhen: January to December
(3)Shanghai: January to December
|8) Local employees:||Approximately 80 persons (for three firms combined).|
(to be paid up)
|10) Shareholder and ownership:||Minebea Co., Ltd., 100%, respectively|
|11) Sales forecasts (rounded for three firms combined)||(1)Year ending March 2003: ¥27 billion
(2)Year ending March 2004: ¥33 billion
(3)Year ending March 2005: ¥37 billion
Product information, contact and other context are subject to change without prior notice.