2013
Feb.1, 2013
Minebea Co., Ltd.
Dissolution of Joint Venture Motor Business with Panasonic Corporation
Minebea Co., Ltd. today announces the following notice regarding the dissolution of the joint venture. No material impact is anticipated on the Company's consolidated financial forecasts for the fiscal year ending March 31, 2013.
| 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 |
February 1, 2013
Minebea Co., Ltd.
Panasonic Corporation
Dissolution of Joint Venture of Motor Business
Minebea Co., Ltd. ("Minebea") and Panasonic Corporation ("Panasonic") today reached an agreement that Panasonic would promptly transfer all of its shares (40 percent of the capital) in their joint venture of Minebea Motor Manufacturing Corporation ("Minebea Motor") to Minebea and dissolve their alliance.
Minebea Motor had been set up on April 1, 2004, integrating the fan motor, stepping motor, vibration motor, and DC brush motor business of Minebea and Panasonic, to develop a globally competitive business by leveraging the ultra-precision machining technology, mass production technology, and cost competitiveness of Minebea with the innovative product development strength of Panasonic. On April 1, 2010, businesses for small brushless motors, power brushless motors, and polygon mirror scanner motors had been transferred to Minebea Motor from Panasonic for further business development. However, the environment of the motor manufacturing business is changing recently, Minebea and Panasonic reached an agreement to dissolve the joint venture and to seek further business expansion for Minebea Motor to continue on as a wholly-owned subsidiary of Minebea, after reconsiderations for businesses.
Minebea, Minebea motor and Panasonic will maintain the further collaborative relationship through continuous products supply in future.
Minebea Motor Manufacturing Corporation
| Representative | Hiroyuki Akatsu |
|---|---|
| Location | 4106-73 Oaza Miyota, Miyota-machi, Kitasaku-gun, Nagano prefecture |
| Description of businesses | Development, manufacturing, and sales of small motors for electronic devices and information equipment |
| Date of establishment | April 1, 2004 |
| Capital | 10 Billion JPY |
| Ratio of capital | Minebea 60%, Panasonic 40% (as of end-January, 2013) |
| Sales | 54.4 Billion JPY (year ended in March, 2012) |
| Employees | 7,493 (as of end-March, 2012) |
| Production/Development Bases | Karuizawa, Hamamatsu, Yonago, Thailand, Malaysia, China, Cambodia |
| Media Inquiries | Minebea Co. Ltd., Corporate Communications Office TEL +81-3-6758-6703 |
|---|---|
| Panasonic Corporation, Groupwide Brand Communications Division, Public Relations Group TEL +81-6-6908-0447(Osaka) +81-3-3574-5661(Tokyo) |
Product information, contact and other context are subject to change without prior notice.
