2014
Dec.25, 2014
Minebea Co., Ltd.
Transfer of Business from SHIONO SEISAKUSHO CO., LTD. to Subsidiary of Minebea and the Conclusion of the Asset Transfer Agreement
Minebea Co., Ltd. ("Minebea") made an announcement of "Notice regarding the Transfer of Business From SHIONO SEISAKUSHO CO., LTD. to a Newly-established Subsidiary of Minebea" on December 1, 2014 stating that Minebea will establish a new wholly-owned subsidiary to acquire the business and assets of SHIONO SEISAKUSHO CO., LTD. (Representative: Hirokazu Shiono, Head Office: Hamura-shi, Tokyo, "SHIONO") as a sponsor of SHIONO, which had worked with and gained support from the Small and Medium Enterprise (SME) Revitalization Support Council in Tokyo for the formulation of its revitalization plan. Minebea has established Shiono Precision Co., Ltd. ("Shiono Precision") as a wholly owned subsidiary, and SHIONO and Shiono Precision entered into an agreement for the business and asset transfer, the details of which are explained as follows:
Shiono Presision, the successor company to which the business and assets of SHIONO are to be transferred, has the competitive advantage in the machining technologies of hard-to-machine materials for precisely machined parts for aircraft, components for aircraft engines, and devices for space development or equipped with artificial satellites. We are confident that the business and technology transfer from SHIONO would give Minebea a great opportunity to promptly achieve its goal "to increase the sales and profitability of aircraft component business" based on its "Five Arrows Strategies" which is one of Minebea Group's leading growth strategies. Minebea continues to be committed to actively promoting new expansion into the space development-related components business as well as the machined parts manufacturing for aircraft.
In the process of agreeing to become the sponsor for SHIONO, Minebea has worked with and gained active cooperation of the SME Revitalization Support Council in Tokyo in proceeding with the formulation of revitalization plan. Minebea continues to work toward promoting transfer of advanced technology to Shiono Precision, maintaining employment and contributing to the revitalization of local economies in Tama region of Tokyo in close coordination with the government-affiliated and regional financial institutions, etc.
1. Outline of Shiono Precision Co., Ltd.
| (1) Company name | Shiono Precision Co., Ltd. |
|---|---|
| (2) Location of Head Office | 4106-73 Oaza Miyota, Miyota-machi, Kitasaku-gun, Nagano |
| (3) Location of Hamura Plant | Shinmeidai 4-4-16, Hamura-shi, Tokyo, Japan |
| (4) Representative | Gen Sasaki (Representative Director) |
| (5) Primary business line (major products for manufacture and sales) |
Manufacture, machining and sales of precisely machined parts for aircraft, components for aircraft engines, and devices for space development or equipped with artificial satellites |
| (6) Paid-in Capital | 200 million yen |
| (7) Established | December 4, 2014 |
| (8) Financial closing date | March 31 |
| (9) Relationship with Minebea | Capital relationship: Minebea's wholly-owned subsidiary Personnel relationships: Minebea's employees hold the posts of three members of the Board of Directors and two Corporate Auditors of Shiono Precision |
2. Schedule
| January 1, 2015 | Transfer of business and assets (planned) |
|---|---|
| January 5, 2015 | Operation commenced at Shino Precision (planned) |
3. Future outlook
We expect that the impact on Minebea's operating results due to and arising out of this transaction will be very minor.
| 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 |
| Phone: | +81-(0)3-6758-6703 |
Product information, contact and other context are subject to change without prior notice.
