2025
Feb.28, 2025
MINEBEA MITSUMI Inc.
Notice of Changes in Specified Subsidiary
At the Board of Directors meeting held today, MINEBEA MITSUMI Inc. ("the Company") has resolved that MITSUMI ELECTRIC CO., LTD. , which is a 100% owned subsidiary of the Company, would make a capital increase to its wholly owned subsidiary MITSUMI AUTOMOTIVE DE MEXICO, S.A. DE C.V. ("the Subsidiary") , and U-Shin Ltd., which is a 100% owned subsidiary of the Company, would make a capital increase to its wholly owned subsidiary U-SHIN AUTOPARTS MEXICO, S.A. DE C.V. ("the Subsidiary") in order to stabilize the working capital of the Subsidiary.
As a result, the Subsidiary is expected to be classified as a specified subsidiary as the amount of its capital will exceed more than 10 percent of the Company's capital. The Company hereby announces as follows.
Description
1. Reason for the Change
The capital will be increased to stabilize the working capital of the Subsidiary.
2. Outline of the Subsidiary to be changed
(1) MITSUMI AUTOMOTIVE DE MEXICO, S.A. DE C.V.
| ① Company Name | MITSUMI AUTOMOTIVE DE MEXICO, S.A. DE C.V. | |||
|---|---|---|---|---|
| ② Address | Av. Circuito Interior 160, Zona Industrial C.P. 78395 San Luis Potosí, San Luis Potosí, México. | |||
| ③ Name of Representative | Tanemichi Fukui, Director | |||
| ④ Description of Businesses | Manufacture and sales of automotive components | |||
| ⑤ Capital | 313 millions of Mexican pesos (2.1 billions of yen) | |||
| ⑥ Date of Incorporation | May 22, 2013 | |||
| ⑦ Major shareholders and shareholding ratio | MITSUMI ELECTRIC CO., LTD. 100% (direct ownership) | |||
| ⑧ Relationship between the Company and the Subsidiary | Capital relationship | The Company has 100% of the voting rights of MITSUMI ELECTRIC CO., LTD., the parent company of the Subsidiary. | ||
| Personnel relationship | Not applicable. | |||
| Business relationship | Not applicable. | |||
| ⑨ Operating results and financial position of the Subsidiary for the past three years | ||||
| Fiscal year end | December 31, 2021 | December 31, 2022 | December 31, 2023 | |
| Net asset | 81 millions of MXN | 53 millions of MXN | 24 millions of MXN | |
| Total assets | 325 millions of MXN | 392 millions of MXN | 628 millions of MXN | |
| Net Sales | 329 millions of MXN | 374 millions of MXN | 516 millions of MXN | |
| Operating income(loss) | (45) millions of MXN | (34) millions of MXN | (68) millions of MXN | |
| Net income (loss) | (51) millions of MXN | (23) millions of MXN | (29) millions of MXN | |
* The operating results and financial position for the year ended December 31, 2022 and 2023 are still under an audit.
(2) U-SHIN AUTOPARTS MEXICO, S.A. DE C.V.
| ① Company Name | U-SHIN AUTOPARTS MEXICO, S.A. DE C.V. | |||
|---|---|---|---|---|
| ② Address | Santiago 387, Fracc. Centro Industrial Guanajuato C.P. 36835 Irapuato, Guanajuato, México. | |||
| ③ Name of Representative | Masatsugu Horibe, Director | |||
| ④ Description of Businesses | Manufacture and sales of automotive components | |||
| ⑤ Capital | 900 millions of Mexican pesos (6.5 billions of yen) | |||
| ⑥ Date of Incorporation | January 1, 2012 | |||
| ⑦ Major shareholders and shareholding ratio | U-Shin Ltd. 100% (direct ownership) | |||
| ⑧ Relationship between the Company and the Subsidiary | Capital relationship | The Company has 100% of the voting rights of U-Shin Ltd., the parent company of the Subsidiary. | ||
| Personnel relationship | Not applicable. | |||
| Business relationship | Not applicable. | |||
| ⑨ Operating results and financial position of the Subsidiary for the past three years | ||||
| Fiscal year end | December 31, 2021 | December 31, 2022 | December 31, 2023 | |
| Net asset | 1,016 millions of MXN | 705 millions of MXN | 503 millions of MXN | |
| Total assets | 1,196 millions of MXN | 952 millions of MXN | 1,068 millions of MXN | |
| Net Sales | 774 millions of MXN | 992 millions of MXN | 1,138 millions of MXN | |
| Operating income(loss) | (15) millions of MXN | (72) millions of MXN | (347) millions of MXN | |
| Net income (loss) | (16) millions of MXN | (105) millions of MXN | (384) millions of MXN | |
* The operating results and financial position for the year ended December 31, 2022 and 2023 are still under an audit.
3. Outline of the Subsidiary to be changed
(1) MITSUMI AUTOMOTIVE DE MEXICO, S.A. DE C.V.
| ① Before capital increase | : 313 millions of Mexican pesos (2.1 billions of yen) (100% of investment ratio) |
|---|---|
| ② After capital increase (planned) | : 930 millions of Mexican pesos (6.8 billions of yen) (100% of investment ratio) |
(2) U-SHIN AUTOPARTS MEXICO, S.A. DE C.V.
| ① Before capital increase | : 900 millions of Mexican pesos (6.5 billions of yen) (100% of investment ratio) |
|---|---|
| ② After capital increase (planned) | : 1,331 millions of Mexican pesos (9.7 billions of yen) (100% of investment ratio) |
Note: The amount of capital increase is calculated at 7.62 yen per Mexican pesos (average TTM for January 2025).
4. Date of Change
March 2025 (planned)
5. Future Outlook
This transaction will have immaterial impact on our consolidated financial results for the fiscal year ending March 31, 2025.
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| Company Name: | MINEBEA MITSUMI Inc. |
|---|---|
| Representative: | Yoshihisa Kainuma Representative Director, Chairman CEO (Code No. 6479, TSE Prime Market) |
| Contact: | Katsuhiko Yoshida Director, President COO & CFO |
| Phone: | +81-(0)3-6758-6711 |
Product information, contact and other context are subject to change without prior notice.
