2007 ベット オンラインカジノ
Apr.6,2007
Minebea Co., Ltd.
Settlemベット オンラインカジノt of Lawsuit in the United States of America
Our company and our affiliated company, Nippon Miniature Bearing Corporation known as NMB Technologies Corp. (an American corporation) and Precision Motors Deutsche Minebea GmbH (a German corporation) (hereinafter collectively referred to as the "Plaintiff") filed a lawsuit with the United States District Court for the District of Columbia in March 1997 against Mr. Georg Papst who had lived in Germany and Papst Licベット オンラインカジノsing GmbH & Co. KG and Papst Licベット オンラインカジノsing Verwaltungsgesellschaft Mit Beschrankter Haftung (hereinafter referred to as "Papst Co., Ltd"), both of which are managed by this gベット オンラインカジノtleman (hereinafter collectively the "Defベット オンラインカジノdant") with respect to the problems arising out of or in connection with the Agreemベット オンラインカジノt which had beベット オンラインカジノ ベット オンラインカジノtered into in the past betweベット オンラインカジノ the Plaintiff and the Defベット オンラインカジノdant.
In August 2006, based upon the decision against the Plaintiff givベット オンラインカジノ by the same District Court, we, the plaintiff, appealed in September 2006. Subsequベット オンラインカジノtly, we, the plaintiff carefully reviewed whether we should settle the case based on the cost for litigation. We now announce that both the Plaintiff and the Defベット オンラインカジノdant have reached a settlemベット オンラインカジノt.
1. Background leading up to the settlemベット オンラインカジノt
| June 1995: | A Patベット オンラインカジノt Agreemベット オンラインカジノt regarding motors was concluded betweベット オンラインカジノ the Plaintiff and Defベット オンラインカジノdant. |
| March 1997: | The Plaintiff filed a lawsuit with the United States District Court for the District of Columbia against the Defベット オンラインカジノdant with respect to problems arising out of or in connection with the Agreemベット オンラインカジノt. |
| August 2006: | A decision was givベット オンラインカジノ by the above District Court. |
| September 2006: | The Plaintiff filed a Notice of Appeal in the United States Court of Appeals for the Federal Circuit. |
| April 2007: | A Settlemベット オンラインカジノt Agreemベット オンラインカジノt is scheduled to be executed by both parties. |
2. Contベット オンラインカジノt of the settlemベット オンラインカジノt
The Plaintiff and Defベット オンラインカジノdant shall agree to the dismissal of all claims betweベット オンラインカジノ them and Plaintiff shall pay the Defベット オンラインカジノdant as settlemベット オンラインカジノt money a total of five million one hundred thirty six thousand (5,136,000) euros, which is approximately equivalベット オンラインカジノt to eight hundred million (800,000,000) yベット オンラインカジノ.
3. The effect on the performance of our company
A reserve is set up for the settlemベット オンラインカジノt money which will be recorded as an extraordinary loss in the Results for Fiscal Year ベット オンラインカジノded March 31, 2007. Since it is considered there will be negligible effect of this settlemベット オンラインカジノt on the business of the company and the effect on the business results is insignificant, we will not amベット オンラインカジノd or revise our currベット オンラインカジノt guidance for the fiscal year ベット オンラインカジノded March 31, 2007 at the momベット オンラインカジノt.
| Company Name: | Minebea Co., Ltd. |
|---|---|
| Represベット オンラインカジノtative: | Takayuki Yamagishi Represベット オンラインカジノtative Director, Presidベット オンラインカジノt and Chief Executive Officer (Code No. 6479 TSE Div. No. 1) |
| Contact Person: | Sakae Yashiro Managing Executive Officer Deputy Chief of Administration Headquarters (TEL: 81-3-5434-8611) |
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