2008
May 12, 2008
Minebea Co., Ltd.
Liquidation of Subsidiary
Minebea Co., Ltd. hereby announces that, at its Board of Directors meeting held on April 24, 2008, the Company resolved to liquidate MINEBEA ELECTRONICS MOTOR (SINGAPORE) PTE. LTD. (hereinafter "Minebea Motor Singapore"), a 100% owned subsidiary of Minebea Motor Manufacturing Corporation (our subsidiary; hereinafter "Minebea Motor").
As a Singapore subsidiary of Minebea Motor, our subsidiary, Minebea Motor Singapore was engaged in the manufacturing and marketing of brush DC motors and vibration motors, but most of its manufacturing relied upon production by subcontractors. This time, we have decided to have Minebea Motor itself engaged in the management of the subcontractor production and the marketing of the motors, and transferred the operations to Minebea Motor from Minebea Motor Singapore. We have judged that Minebea Motor Singapore completed its role as a Singapore subsidiary, and resolved the liquidation.
1. Outline of MINEBEA ELECTRONICS MOTOR (SINGAPORE) PTE. LTD.
(1) Representative Director: Shoji Shishido
(2) Location of Head Office: Singapore
(3) Date of Establishment: January 15, 2004
(4) Capital: 25 million Singaporean dollars
(5) No. of Employees: 0(As of March 31, 2008)
(6) Shareholder: Minebea Motor Manufacturing Corporation 100%
(7) Net Sales: 39 million Singaporean dollars (Fiscal year ended March 31, 2008)
2. Outline of Minebea Motor Manufacturing Corporation
(1) Representative Director and President: Yoshihisa Kainuma
(2) Location of Head Office: Arco Tower, 18th floor, 1-8-1, Shimo-Meguro, Meguro-ku, Tokyo
(3) Date of Establishment: February 15, 1991
(4) Capital: 10 billion yen
(5) No. of Employees: 330(As of March 31, 2008)
(6) Shareholders: Minebea Co., Ltd. 60%, Matsushita Electric Industrial Co., Ltd. 40%
(7) Net Sales: 53,225 million yen (Fiscal year ended March 31, 2008)
(8) Ordinary Income: 684 million yen (Fiscal year ended March 31, 2008)
(9) Relationship with Minebea: Subsidiary
3. Timing of the Liquidation
We will liquidate Minebea Motor Singapore as soon as preparations are completed.
4. Prospect for the Future
The effect on our performance for the fiscal year ended March 31, 2008 and for the fiscal year ending March 31, 2009 due to the above liquidation of the subsidiary is minor.
| Company Name: | Minebea Co., Ltd. |
|---|---|
| Representative: | Takayuki Yamagishi Representative Director, President and Chief Executive Officer (Code No. 6479 TSE Div. No. 1) |
| Contact Person: | Sakae Yashiro Senior Managing Executive Officer Deputy Chief of Administration Headquarters (TEL: 81-3-5434-8611) |
Product information, contact and other context are subject to change without prior notice.
