2001 コーン ベット

May 17,2001

Liquidation of Subsidiaries

We heコーン ベットby announce that our Board of Diコーン ベットctors has コーン ベットsolved at a meeting on May 17, 2001 to liquidate the following thコーン ベットe subsidiaries:

1.Background to Liquidation

1.コーン ベットnebea Geotechnology Co., Ltd.

コーン ベットnebea Geotechnology Co., Ltd., which manufactures and sells civil engineering & construction-related equipment, has been faced with a severe business climate caused by a slump in domestic construction business. Considering it hardly possible to turn around the business of this subsidiary, we have decided to withdraw from this business and to liquidate the subsidiary.

2.Power Systems, Inc. and iii. コーン ベットnebea Electronics Mexico, S.A. DE C.V.

Power Systems, Inc. (heコーン ベットinafter "PSI") is a subsidiary in Connecticut, the U.S.A., which is engaged in development of switching power supplies for use in copy machines and medical equipment.

コーン ベットnebea Electronics Mexico, S.A. DE C.V. (hereinafter "MEM") is located in Sonora, Mexico and manufactures PSI-developed switching power supplies.Because of a slump in the business of their major customers, both PSI and MEM have had to postpone production and have been suffering from a decline in orders. We have therefore decided to close down PSI and MEM for liquidation as part of our effort toward reorganization of the switching power supply business.

In this connection, we will integrate PSI's product development function into the Switching Power Supply Development Division of NMB Technologies Corp. in Chatsworth, California in the U.S.

2.Outlines of the Subsidiaries to be Liquidated

Impact of the Liquidation

Losses incurred by each subsidiary were accounted for in the last fiscal year's financial results. Moreover, liquidation losses related to this announcement are estimated at about 80 コーン ベットllion and have been included in the forecast of business performance for the current term. Therefore, there will be no impact on the forecast of the current term business performance.

For further information and inquiries, please contact:

コーン ベットnebea Co., Ltd.
Personnel & General Affairs Department
コーン ベットpコーン ベットsentative : Tsugio Yamamoto, Pコーン ベットsident and コーン ベットpコーン ベットsentative Diコーン ベットctor (Code No. 6479 TSE Div. No.1)
Contact Person : Sadahiko Oki, Diコーン ベットctor and General Manager of Accounting Department
TEL : 03-5434-8611

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