Minebea Co., Ltd.
Notice Regarding the Conclusion of a Sponsor Agreement with SHICOH CO., LTD.
Minebea Co., Ltd. hereby announces that it has concluded a sponsor agreement as outlined below, with SHICOH CO., LTD. (Tokyo Stock Exchange Mothers Index, Stock Code: 6667, hereafter "SHICOH"), a company that today filed an application with the Tokyo District Court for civil rehabilitation proceedings.
SHICOH is presently engaged in the mass production and sale of auto-focus linear motors, which are mostly used in the micro cameras installed in mobile phone, smartphone and multifunctional tablet device. Severe business environment including depreciation cost burden associated with investment in facilities following a substantial decline in orders after September 2011, a sharp rise in the price of raw materials such as rare metals and increased labor costs in China, today resulted in the company filing an application to commence civil rehabilitation proceedings.
Minebea has entered into a sponsor agreement with SHICOH, based on the premise of offering assistance toward the rehabilitation proceedings, in accordance with the said sponsor agreement.
Outline of SHICOH CO., LTD
|(1) Name||SHICOH CO., LTD.|
|(2) Principal business
(Products Manufactured & Sold)
|Fan motors, vibration motors, auto-focus linear motors|
|(3) Established||July 16, 1976|
|(4) Location||3-9-6 Chuo Rinkan-Nishi, Yamato-shi, Kanagawa, Japan|
|(5) Representative||Manabu Shiraki, Representative Director and President|
|(6) Capital||JPY3,351.02 million (Year ended December 31, 2011)|
|(7) Number of employees||6,427 (consolidated number of employees as of June 1, 2011)|
|(8) Net sales||Approximately JPY10.4 billion (Year ended December 31, 2011 results)|
|(9) Relationships with Minebea||None on personnel relationships, capital relationships, others|
2. Future Schedule
Minebea plans to conclude a business transfer agreement by around the end of August, 2012.
3. Future Outlook
A separate announcement will be made should any significant impact on future consolidated earnings be identified as a result of the conclusion of this sponsor agreement.
|Contact of SHICOH CO., LTD:||SHICOH CO., LTD.|
|3-9-6 Chuo Rinkan-Nishi, Yamato-shi, Kanagawa, Japan|
|TEL 046-278-3570 / FAX 046-278-3576|
|Company Name:||Minebea Co., Ltd.|
President and Chief Executive Officer
(Code No. 6479, TSE Div. No.1)
Corporate Communications Office
Product information, contact and other context are subject to change without prior notice.