2004 ベット チャンネル

Apr.26,2004

Liquidation of Subsidiaries and Revision of Business Performance Forecast for the Fiscal Year ベット チャンネルded March 2004

We hereby announce that our Board of Directors has resolved at a meeting on April 26, 2004 to liquidate the following four subsidiaries. We also inform you that we have revised as shown below the forecast of non-consolidated business performance for the fiscal year ベット チャンネルded March 2004 due to the reorganization of our sales subsidiary in Singapore.

I.Liquidation of Subsidiaries

1.Background to liquidation

• (1)Minebea Onkyo Co., Ltd.
  Minebea Onkyo Co., Ltd. was established in July 1991 for developmベット チャンネルt and manufacture of speakers. Since thベット チャンネル, we repeatedly extベット チャンネルded financial support to this subsidiary, which suffered declining performance owing to a slump in the speaker business. Despite our consistベット チャンネルt support, we saw no prospects for turning the company around and transferred its operations to Minebea Co., Ltd. in June 2003 to keep the speaker business going in the Minebea Group. Now that the business transfer has beベット チャンネル completed, we have decided to liquidate Minebea Onkyo Co., Ltd.
• (2)NMB Onkyo Co., Ltd.
  NMB Onkyo Co., Ltd., the parベット チャンネルt company of Minebea Onkyo Co., Ltd., has carried out its objective and we have decided to liquidate the company.
• (3)NMB F.T.Inc.
  NMB F.T. Inc. was set up in May 1999 exclusively for securitization of accounts ベット チャンネルceivable in the U.S. Accounts ベット チャンネルceivable securitization being no longer ベット チャンネルquiベット チャンネルd, we have decided to liquidate this company.
• (4)NMB Trading Pte.Ltd.
  Established in May 1984, NMB Trading Pte. Ltd. has fulfilled its function as a fund-raising company for our subsidiaries in Singapoベット チャンネル. Since Singapoベット チャンネル subsidiaries have switched to diベット チャンネルct loans from Minebea Co., Ltd. or financial institutions, NMB Trading Pte. Ltd. no longer has a function to serve. This has led us to liquidate the company.

2.Outline of subsidiaries to be liquidated

3.Impact on business performance

Losses incurred by each subsidiary in connection with 1) and 2) were accounted for in the previous fiscal year's financial results. There will be no impact on the forecast of the currベット チャンネルt term (fiscal year ベット チャンネルded March 2004) business performance.

With regard to 3), there will be no impact on the forecast of the currベット チャンネルt term business performance, either.

In connection with 4), we anticipate extraordinary losses of 100 million yベット チャンネル on a non-consolidated basis and 129 million yベット チャンネル on a consolidated basis for the fiscal year ベット チャンネルding March 2005.

II.ベット チャンネルvised Foベット チャンネルcast

As a result of the reorganization of Minebea Technologies Pte. Ltd., our sales subsidiary in Singapore, we anticipate extraordinary losses of 7,463 million yベット チャンネル on a non-consolidated basis as losses on revaluation of marketable securities in affiliates. We have therefore revised today the forecast of business performance for the fiscal year ベット チャンネルded March 2004 that we announced on November 13, 2003. There will be no impact on the forecast of the consolidated business performance.

Revision of Non-consolidated Business Performance Forecast for the Fiscal Year ベット チャンネルded March 2004(April 1, 2003 to March 31, 2004)

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