2014

Sept.26, 2014

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Minebea Co., Ltd.

Announcement Regarding Liquidation of Subsidiaries

Minebea Co., Ltd. ("Minebea") hereby announces that it has decided to liquidate three consolidated subsidiaries of Minebea as detailed below, based on the resolution at a Board of Directors meeting held on September 26, 2014.

1. Circumstances Leading to Liquidation

  • (1) NMB Mechatronics Co., Ltd.
    NMB Mechatronics Co., Ltd. became a wholly-owned subsidiary of Minebea, when Minebea acquired all shares of FDK Mechatronics Co., Ltd., a stepping motor production company and a subsidiary of FDK Corporation in January 2009. The company has been engaged in the manufacture and sales of micro actuators for use in digital cameras, office automation equipment and automobiles, etc. ("MA business") Due to the structural reorganization in April 2013, the MA business was reorganized into the Stepping Motor Business Unit of Minebea and therefore we have decided to liquidate this company.
  • (2) NMB Mechatronics (Thailand) Co., Ltd.
    As a wholly-owned subsidiary of NMB Mechatronics Co., Ltd., NMB Mechatronics (Thailand) Co., Ltd. has manufactured micro actuators to be used in digital cameras, office automation equipment and automobiles, etc. Due to the structural reorganization in April 2013, the MA business was reorganized into the Stepping Motor BU and the entire business of NMB Mechatronics (Thailand) Co., Ltd. was transferred to NMB-Minebea Thai Ltd. As such, we have decided to liquidate the company.
  • (3) MINEBEA ELECTRONICS MOTOR (THAILAND) COMPANY LIMITED
    As a subsidiary of Minebea-Matsushita Motor Corporation (subsequently changed its name to Minebea Motor Manufacturing Corporation ("MMMC")), a joint venture with the Motor Company of Matsushita Electric Industrial Co., Ltd. (subsequently changed its name to the Motor Company of Panasonic Corporation), established in April 2004 by integrating information motor businesses, MINEBEA ELECTRONICS MOTOR (THAILAND) COMPANY LIMITED has been engaged in the manufacture of stepping motors. Following Minebea's absorption merger with MMMC in April 2013, their business was transferred to NMB-Minebea Thai Ltd. We have decided to liquidate this company accordingly.

2. Outline of Companies in Liquidation

(1) NMB Mechatronics Co., Ltd.
Representative: Kazuyuki Watanabe (Representative Director)
Location of Head Office: Fukuroi, Shizuoka Prefecture
Date of Establishment: November 1, 1989
Capital: 734 million yen
Number of Employees: 0 (As of March 31, 2014)
Shareholder: Minebea Co., Ltd. 100%
Business: Manufacture and sales of stepping motors
Timing of liquidation: December 31, 2014 (planned)
(2) NMB Mechatronics (Thailand) Co., Ltd.
Representative: Yukihiro Fujii (Representative Director)
Location of Head Office: Thailand
Date of Establishment: December 19, 2001
Capital: 240 million BAHT
Number of Employees: 0 (As of March 31, 2014)
Shareholder: Minebea Co., Ltd. 100%
Business: Manufacture of stepping motors, etc.
Timing of liquidation: As soon as practically possible as relevant liquidation proceedings get ready
(3) MINEBEA ELECTRONICS MOTOR (THAILAND) COMPANY LIMITED
Representative: Yukihiro Fujii (Representative Director)
Location of Head Office: Thailand
Date of Establishment: November 21, 2003
Capital: 900 million BAHT
Number of Employees: 0 (As of March 31, 2014)
Shareholder: Minebea Co., Ltd. 100%
Business: Manufacture of stepping motors
Timing of liquidation: As soon as practically possible as relevant liquidation proceedings get ready

3. Prospect for the Future

There will be little impact of the liquidation of these companies on Minebea's business performance for the fiscal year ending March 31, 2015.

Company Name: Minebea Co., Ltd.
Representative: Yoshihisa Kainuma
Representative Director,
President and Chief Executive Officer
(Code No. 6479, TSE Div. No.1)
Contact: Hiromi Yoda
Managing Executive Officer,
Deputy Officer in Charge of Administration, Accounting, and IT Division
Tel: +81-(0)3-6758-6711
Information in the press releases is current on the date of the announcement.
Product information, contact and other context are subject to change without prior notice.

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