2014

Feb.3, 2014

Notice on Joint Venture Establishment with
Iwasaki Electric Co., Ltd. and Koizumi Lighting Technology Corp.
for the Development of Lighting Equipment

Minebea Co., Ltd. ("Minebea") hereby announces that, at a Board of Directors meeting held on February 3, 2014, it has resolved 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 Chief Executive Officer)), a leading supplier of outdoor lighting and other lighting products, and Koizumi Lighting Technology Corp. (Head Office: Osaka City, Osaka Prefecture, Representative: Teruyuki Umeda; (President and CEO)), one of the major provider of indoor lighting fixtures, with the aim of developing lighting systems to be used in the "Smart Buildings" and "Smart Cities" and that Minebea entered into the related memorandum of understanding with Iwasaki Electric Co., Ltd. and Koizumi Lighting Technology Corp. as of the said date.

1. Reasons for the JV Company Establishment

We are aiming at the development of unprecedented and highly efficient lighting equipment for use in the "Smart Buildings" and "Smart Cities" through the application of optical components produced by the utilization of the design and production technology of light guide panels that has been developed through the manufacture of LED backlights for use in smart phones, one of Minebea's area of specialty, and the circuit design and development technology in which Minebea has accumulated expertise in the applications for PCs and television sets, in addition to utilizing the traditional realms of expertise of Iwasaki Electric Co., Ltd. and Koizumi Lighting Technology Corp. in the design and production technology of outdoor and indoor lighting fixtures. At the same time, in collaboration with and incorporating the wireless technologies of Paradox Engineering SA, a Swiss wireless network sensor solutions company in which Minebea has taken an equity stake since January 2014, we intend to promote the development of indoor and outdoor lighting fixtures that are designed to be controlled by such wireless control technologies as the Wi-Fi communication network, etc.

2. Outline of the JV Company

A new JV Company will be set up with the capital of 100 million yen in which Minebea owns 51% of the equity stake and each of Iwasaki Electric Co., Ltd. and Koizumi Lighting Technology Corp. has a 24.5% stake, respectively. The JV company will be established and located at Minebea's Tokyo headquarters building with its R&D center based in the same venue. We are slated to start its operations in and around April 2014.

3. Overview of JV partners

4. Future outlook

Impacts on the consolidated results of the Minebea Group due to and arising out of this matter are yet to be determined at present.

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