2014
Sept.26, 2014
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
| 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) |
| 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 |
| 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.
Product information, contact and other context are subject to change without prior notice.
