Minebea Co., Ltd.
Dissolution of PC Keyboard Joint Venture Business in China
Minebea Co., Ltd. (Minebea) and Huan Hsin Holdings Ltd. (Huan Hsin) have agreed today to dissolve the PC keyboard joint venture business established in China.
Minebea and Huan Hsin have been manufacturing PC keyboards at Shanghai Shunding Technologies Ltd. (SST), a Chinese subsidiary of a joint venture Sheng Ding Pte. Ltd. (SDPL) established in Singapore.
Minebea will make SDPL a wholly owned subsidiary by purchasing all its shares owned by Huan Hsin.
1. Reason for the Dissolution
While Minebea and Huan Hsin have been manufacturing PC keyboards in China since August 2003, both companies have recently discussed and agreed to dissolve the joint venture business. As a result, Minebea will be able to execute agile corporate strategies and strengthen the freedom of management.
2. Method of the Dissolution
Minebea will purchase all SDPL shares (40% of the issued shares) owned by Huan Hsin. The purchase price is US$800,000.
3. Impact on Minebea's Financial Results
The dissolution will have no material impact on Minebea's financial results.
4. Outline of SDPL
|Company name:||Sheng Ding Pte. Ltd.|
|Representative:||Takayuki Yamagishi (Representative Director, President and Chief Executive Officer, Minebea Co., Ltd.)|
|Location of head office:||5 Shenton Way #19-00 UIC Building, Singapore 068808|
|Date of establishment:||August 21, 2002|
|Capital:||US$ 22 million (Approx. ¥2,558 million, as of March 31, 2005)|
Huan Hsin 40%
Outline of SST
|Company name:||Shanghai Shunding Technologies Ltd.|
|Location of head office:||No. 1290 Zhongchun Road, Zhuangiao Town, Minhang District, Shanghai 201109, China|
|Date of establishment:||November 12, 2002|
|Principal business:||Manufacture of PC keyboards|
|Number of employees:||3,087 (As of March 31, 2005)|
|Capital:||RMB182 million (Approx. ¥2,632 million, as of March 31, 2005)|
|Shareholders:||Sheng Ding Pte. Ltd. 100%|
Outline of Huan Hsin
|Company name:||Huan Hsin Holdings Ltd.|
|Representative:||Hung Chun Hsu|
|Location of head office:||6 Shenton Way, #28-09 DBS Building, Singapore 068809|
|Principal business:||Electric cables, injection molding of plastics, die-cutting of metals, PC cases, notebook PC cases, printed-circuit boards, SMTs|
For inquiries, please contact:
Minebea Co., Ltd.
Corporate Communications Office
Corporate Planning Department
ARCO Tower, 19th Floor,
1-8-1, Shimo-Meguro, Meguro-ku, Tokyo 153-8662
TEL : 81-3-5434-8637 / Fax: 81-3-5434-8607
E-Mail : firstname.lastname@example.org
URL : http://www.minebea.co.jp/
Product information, contact and other context are subject to change without prior notice.