2014
Apr.1, 2014
Minebea Co., Ltd.
Notice regarding Completion of Joint Venture Establishment with Iwasaki Electric Co., Ltd. and Koizumi Lighting Technology Corp. for the Development of Lighting Equipment
Minebea Co., Ltd. ("Minebea") made an announcement of the "Notice on Joint Venture Establishment with Iwasaki Electric Co., Ltd. and Koizumi Lighting Technology Corp. for the Development of Lighting Equipment" on February 3, 2014, stating that Minebea had entered into the Memorandum of Understanding to establish a new joint venture company (the "JV Company") with Iwasaki Electric Co., Ltd. (Head Office: Chuo-ku, Tokyo, Representative: Bunya Watanabe (President and Representative Officer)), and Koizumi Lighting Technology Corp. (Head Office: Osaka City, Osaka Prefecture, Representative: Teruyuki Umeda; (President and Chief Executive Officer)) with the aim of developing lighting systems to be used in the "Smart Buildings" and "Smart Cities".
Minebea completed as of today the establishment of such JV Company, the details of which are explained as follows:
1. Outline of the JV Company
| (1) Company name | MIK Smart Lighting Network Corporation |
|---|---|
| (2) Location of Head Office | 4106-73 Oaza Miyota, Miyota-machi, Kitasaku-gun, Nagano |
| (3) Location of Tokyo Office | 3-9-6 Mita, Minato-ku, Tokyo |
| (4) Representative | Shinichi Yamamura (President and Representative Director) |
| (5) Principal business line | Contracted development of lighting products and entrusted business associated with the formulation of strategies relating to manufacture and sales of such products |
| (6) Capital | 50 million yen (*the amount of capital reserve is 50 million yen) |
| (7) Establishment | April 1, 2014 |
| (8) Financial closing date | March 31 |
| (9) Share holding ratio | Minebea Co., Ltd. – 51%, Iwasaki Electric Co., Ltd. – 24.5%, Koizumi Lighting Technology Corp. – 24.5% |
| (10) Relationships with Minebea | Capital relationships: Minebea's consolidated subsidiary. Personnel relationships: Minebea's employees hold the posts of two members of the Board of Directors and one Corporate Auditor of the JV Company. |
2. Overview of JV partners
| (1) Company name | Iwasaki Electric Co., Ltd. |
|---|---|
| (2) Location of Head Office | Bakurocho-daiichi Bldg. 1-4-16, Nihonbashi-bakurocho, Chuo-ku, Tokyo |
| (3) Representative | Bunya Watanabe (President and Representative Director) |
| (4) Principal business line | Manufacture and sales of various light sources, light fixtures and applied optics (ultraviolet, infrared and electronic beam applications, etc.) |
| (5) Capital | 8,640 million yen |
| (6) Establishment | August 18, 1944 |
| (7) Number of employees | 1,033 (Non-consolidated) (as of March 31, 2013) 2,120 (Consolidated) (as of March 31, 2013) |
| (8) Relationships with Minebea | Capital relationships & personnel relationships, etc.: None |
| (1) Company name | Koizumi Lighting Technology Corp. |
|---|---|
| (2) Location of Head Office | 3-3-7, Bingo-machi, Chuo-ku, Osaka |
| (3) Representative | Teruyuki Umeda (President and CEO) |
| (4) Principal business line | Development, manufacture, planning and sales of lighting fixtures |
| (5) Capital | 450 million yen |
| (6) Establishment | April 1, 2006 |
| (7) Number of employees | 596 (as of March 31, 2013) |
| (8) Relationships with Minebea | Capital relationships & personnel relationships, etc.: None |
3. Future outlook
Impacts on the consolidated results of the Minebea Group due to and arising out of this transaction are yet to be determined at present.
| Company Name: | Minebea Co., Ltd. |
|---|---|
| Representative: | Yoshihisa Kainuma Representative Director, President and Chief Executive Officer (Code No. 6479, TSE Div. No.1) |
| Contact: | Yasuo Komine General Manager Corporate Communications Office |
| Tel: | +81-(0)3-6758-6703 |
Product information, contact and other context are subject to change without prior notice.
