2001

Oct.11, 2001

Minebea Electronics & Hi-Tech Components (Shanghai) Ltd., Minebea's Subsidiary in China, Achieves Recognition from the Shanghai City Authorities as an Exemplary Company in view of Excellent Export Declaration

Minebea Electronics & Hi-Tech Components (Shanghai) Ltd. (hereinafter "Shanghai Minebea"), Minebea's subsidiary in China, won official recognition as an exemplary company at the acknowledgement ceremony held on September 28 (Fri.), 2001 at the Headquarters of Shanghai Entry-Exit Inspection and Quarantine Bureau in China, an organization to inspect quality of export and import products from and into Shanghai.

The exemplary company status is granted by Shanghai Entry-Exit Inspection and Quarantine Bureau to those companies whose export products are acknowledged to be of excellent quality. The companies with this status are awarded the privilege of simplified and expeditious customs clearance of their export products.

Under the current program, the first one ever launched by Shanghai Entry-Exit Inspection and Quarantine Bureau, 57 export companies operating in Shanghai including Shanghai Minebea, out of more than 10,000 applicants, were acknowledged to be exemplary companies.

Under its fully integrated production system, Shanghai Minebea manufactures ball bearings at the Shanghai Plant and DC and AC fan motors at the Xicen Plant. Shanghai Minebea was granted the exemplary company status on May 16, 2001 as the first such company among the other 14 companies in recognition of the facts that the company has:

-observed the laws, regulations, ands rules laid down by Shanghai Entry-Exit Inspection and Quarantine Bureau;
-achieved for two consecutive years 99% or more in terms of rate of passing inspection of quality of export products;
-suffered no compensation claims resulting from professional negligence or product-related accidents for the past two years;
-achieved and maintained certification for ISO 9002, which is the international standards of product quality; and
-had qualified product quality controllers and organizations in-house.

Having been acknowledged to be an exemplary company, Shanghai Minebea will be entitled to the following privileges for two years, which will help considerably reduce expenses and time for customs clearance.

1. Reduced expenses for inspection of product quality - Shanghai Minebea's share of inspection expenses to be reduced from the current rate of 100% to 55%.
2. Shorter time for declaration - about one hour compared with the current two to three hours on the average.

In addition, applications for product quality inspection can be processed by means of EDI (electronic data interchange). This will reduce the expenses presently incurred by applications through documents and also decrease the volume of papers to be used, thereby contributing to environmental preservation.

In March 2001, Minebea was authorized by the Tokyo Customs to hold its "Approval NO.1" as an eligible applicant for the simplified declaration procedure for exports and imports. In Thailand, home of Minebea's largest manufacturing base, the company became the first foreign investor authorized by the Thai customs to use electronic data storage system for customs clearance procedures.

Minebea has thus strived to date for increased efficiency in customs clearance procedures for exports and imports and has been highly rated by the customs in various parts of the world. (Please see the attached press release dated April 3, 2001.)

For further information and inquiries, please contact :

Minebea Co., Ltd.
Corporate Communications Office, Corporate Planning Department

Shoji Sato, General Manager

Yasuaki Miyahara

Tel : 81-3-5434-8637
Fax : 81-3-5435-8607

E-mail : ymiyahar@minebea.co.jp

URL : http://www.minebea.co.jp

Corporate Information : Minebea Electronics & Hi-Tech Components (Shanghai) Ltd.

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