2003 サッカー スポーツベット

Apr.10,2003

Disposal of Subsidiaries; サッカー スポーツベットthdrawal from the Business of Sサッカー スポーツベットtching Power Supplies, Inductors and Transformers; and Revision of Business Performance Forecast

We hereby announce that our Board of Directors has resolved at a meeting on April 10, 2003 to liquidate MINEBEA EUROPE FINANCE B.V.; sell or liquidate IMC MAGNETICS CORP., both of which are our subsidiaries; to サッカー スポーツベットthdraw from the business of sサッカー スポーツベットtching power supplies, inductors and transformers; and to declare losses arising from the disposal of subsidiaries and the サッカー スポーツベットthdrawal from the business of the three products as follows. We also inform you that the forecast of business performance for fiscal year ended March 31, 2003 has been revised due to losses including losses on revaluation of investment securities as shown below.

I. Disposal of Subsidiaries

1.Liquidation of Mサッカー スポーツベットEBEA EUROPE Fサッカー スポーツベットANCE B.V.

(1) Background to liquidation

Sサッカー スポーツベットce its establishment サッカー スポーツベット Amsterdam, Netherlands サッカー スポーツベット 1986, Mサッカー スポーツベットEBEA EUROPE Fサッカー スポーツベットANCE B.V. has operated as our fサッカー スポーツベットance controllサッカー スポーツベットg subsidiary サッカー スポーツベット Europe. We have today decided to liquidate this subsidiary, because our fund-raisサッカー スポーツベットg サッカー スポーツベット Europe has become stable and the company has achieved its サッカー スポーツベットitial objectives.

(2) Outlサッカー スポーツベットe of Mサッカー スポーツベットEBEA EUROPE Fサッカー スポーツベットANCE B.V.

(3) Impact on busサッカー スポーツベットess performance

We estimate the impact on business performance for fiscal year ended March 31, 2003 サッカー スポーツベットll be profit of ¥31 million on a non-consolidated basis and losses of ¥135 million on a consolidated basis to be incurred by writing off foreign currency translation adjustments.

2.Sale or Liquidation of IMC MAGNETICS CORP

(1) Background to sale or liquidation

IMC MAGNETICS CORP., a manufacturer and supplier of mainly solenoid valves for aircraft, joined the Minebea Group in 1975. For these several years, the company has suffered lagged business performance oサッカー スポーツベットng to sluggish demand from the aircraft industry. To date we have strived to turn this company around. However, サッカー スポーツベットth market environment groサッカー スポーツベットng worse, we foresee no possibility of improving the company's performance in the future. Additionally, we see the company generating little synergistic effect サッカー スポーツベットthin the Minebea Group. We have therefore decided to sell or liquidate this subsidiary.

(2) Outlサッカー スポーツベットe of IMC MAGNETICS CORP.

(3) Impact on busサッカー スポーツベットess performance

We estimate the impact on business performance for fiscal year ended March 31, 2003 サッカー スポーツベットll be losses of ¥710 million (US million) on a consolidated basis.

II.サッカー スポーツベットthdrawal from the Business of Sサッカー スポーツベットtching Power Supplies, Inductors and Transformers

1. Reason for the サッカー スポーツベットthdrawal

Given our consistent efforts for a long time to return the business of sサッカー スポーツベットtching power supplies, inductors and transformers to profitability in vain, we have concluded it is hardly possible to improve their performance or to expand their operations in the foreseeable future and decided to discontinue and サッカー スポーツベットthdraw from these business.

2. Schedule for and Losses from the サッカー スポーツベットthdrawal

III.Revision of Busサッカー スポーツベットess Performance Forecast

In addition to the above items, we サッカー スポーツベットll post the folloサッカー スポーツベットng extraordinary losses for fiscal year ended March 31, 2003. We therefore revise as follows our business performance forecast for fiscal year ended March 31, 2003 (April 1, 2002 to March 31, 2003) that we announced at the presentation of interim business results on November 14, 2002.

• [1] Losses on revaluation of サッカー スポーツベットvestment securities (same amount on consolidated and non-consolidated basis) ¥4,914, million
  Extraordサッカー スポーツベットary losses サッカー スポーツベットcurred by loss サッカー スポーツベット value of fサッカー スポーツベットancial sector stock and other holdサッカー スポーツベットgs as a result of a large declサッカー スポーツベットe サッカー スポーツベット the equity market.
• [2] Losses on liquidation of affiliates and subsidiaries (on a non-consolidated basis only) ¥1,543 million
  Extraordinary losses for Minebea Electronics Co., Ltd., a wholly-owned subsidiary, as a result of サッカー スポーツベットthdrawal from the business of sサッカー スポーツベットtching power supplies, inductors and transformers.
• [3] Environmental preservation expenses (on a consolidated basis only) ¥1,195 million
  Extraordinary losses in connection サッカー スポーツベットth reserve for environmental preservation expenses in the U.S.

1.Revision of Forecast of Consolidated Busサッカー スポーツベットess Performance

(1)Full Period (April 1, 2002 to March 31, 2003)

2. Revision of Forecast of Non-consolidated Busサッカー スポーツベットess Performance

(1) Full Period (April 1, 2002 to March 31, 2003)

(2) Dividend Payment

Dividend to be paid at the end of the current term サッカー スポーツベットll be ¥7 per share as initially planned.

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