2014
Mar.10, 2014
Minebea Co., Ltd.
Announcement of a sale of shares of Hysonic Co., Ltd. by Minebea's subsidiary in Korea
On March 7, 2014, Minebea Co., Ltd. ("Minebea") hereby announces that its 50.85% owned subsidiary in Korea, Moatech Co., Ltd. ("Moatech"), agreed to sell 25% stake of Hysonic Co., Ltd. ("Hysonic") to four individual investors including two management members of Hysonic. Moatech currently owns 33.58% stake of Hysonic, and 25% of which will be sold to the buyer by March 25, 2014.
We expect that the impact of the sale on Minebea's consolidated operating results will be minor.
Outline of Hysonic
| (1) Company name | Hysonic Co., Ltd. |
|---|---|
| (2) Head office address | 5th floor, Gyunggi Techno Park, 1271-11 Sa-dong, Sangrok-gu, Ansan-si, Gyunggi-do, Korea |
| (3) Representative | Jae Wook Ryu (CEO) |
| (4) Established | March 2001 |
| (5) Capital | KRW 5,300 million (For the year ended December 2013) |
| (6) Number of Employees | 1,486 (consolidated) (For the year ended December 2013) |
| (7) Principal line of business | Manufacturing and marketing of VCM (voice coil motor) that is used for AF Actuator in camera in mobile phone |
| (8) Location of factories | Republic of the Philippines |
| (9) Relationship with Minebea | Equity method affiliate companies of Minebea |
| 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 |
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.
Product information, contact and other context are subject to change without prior notice.
