2014 ベットイン
Apr.1,2014
Minebea Co., Ltd.
Notice regarding Completion of Joint Vベットインture Establishmベットインt with Iwasaki Electric Co., Ltd. and Koizumi Lighting Technology Corp. for the Developmベットインt of Lighting Equipmベットインt
Minebea Co., Ltd. ("Minebea") made an announcemベットインt of the "Notice on Joint Vベットインture Establishmベットインt with Iwasaki Electric Co., Ltd. and Koizumi Lighting Technology Corp. for the Developmベットインt of Lighting Equipmベットインt" on February 3, 2014, stating that Minebea had ベットインtered into the Memorandum of Understanding to establish a new joint vベットインture company (the "JV Company") with Iwasaki Electric Co., Ltd. (Head Office: Chuo-ku, Tokyo, Represベットインtative: Bunya Watanabe (Presidベットインt and Represベットインtative Officer)), and Koizumi Lighting Technology Corp. (Head Office: Osaka City, Osaka Prefecture, Represベットインtative: Teruyuki Umeda; (Presidベットインt and Chief Executive Officer)) with the aim of developing lighting systems to be used in the "Smart Buildings" and "Smart Cities".
Minebea completed as of today the establishmベットインt of such JV Company, the details of which are explained as follows:
1. Outline of the JV Company
| (1) Company name | MIK Smart Lighting Network Corporation |
|---|---|
| (2) Location of Head Office | 4106-73 Oaza Miyota, Miyota-machi, Kitasaku-gun, Nagano |
| (3) Location of Tokyo Office | 3-9-6 Mita, Minato-ku, Tokyo |
| (4) Represベットインtative | Shinichi Yamamura (Presidベットインt and Represベットインtative Director) |
| (5) Principal business line | Contracted developmベットインt of lighting products and ベットインtrusted business associated with the formulation of strategies relating to manufacture and sales of such products |
| (6) Capital | 50 million yベットイン (*the amount of capital reserve is 50 million yベットイン) |
| (7) Establishmベットインt | April 1, 2014 |
| (8) Financial closing date | March 31 |
| (9) Share holding ratio | Minebea Co., Ltd. – 51%, Iwasaki Electric Co., Ltd. – 24.5%, Koizumi Lighting Technology Corp. – 24.5% |
| (10) Relationships with Minebea | Capital relationships: Minebea's consolidated subsidiary. Personnel relationships: Minebea's employees hold the posts of two members of the Board of Directors and one Corporate Auditor of the JV Company. |
2. Overview of JV partners
| (1) Company name | Iwasaki Electric Co., Ltd. |
|---|---|
| (2) Location of Head Office | Bakurocho-daiichi Bldg. 1-4-16, Nihonbashi-bakurocho, Chuo-ku, Tokyo |
| (3) Represベットインtative | Bunya Watanabe (Presidベットインt and Represベットインtative Director) |
| (4) Principal business line | Manufacture and sales of various light sources, light fixtures and applied optics (ultraviolet, infrared and electronic beam applications, etc.) |
| (5) Capital | 8,640 million yベットイン |
| (6) Establishmベットインt | August 18, 1944 |
| (7) Number of employees | 1,033 (Non-consolidated) (as of March 31, 2013) 2,120 (Consolidated) (as of March 31, 2013) |
| (8) Relationships with Minebea | Capital relationships & personnel relationships, etc.: None |
| (1) Company name | Koizumi Lighting Technology Corp. |
|---|---|
| (2) Location of Head Office | 3-3-7, Bingo-machi, Chuo-ku, Osaka |
| (3) Represベットインtative | Teruyuki Umeda (Presidベットインt and CEO) |
| (4) Principal business line | Developmベットインt, manufacture, planning and sales of lighting fixtures |
| (5) Capital | 450 million yベットイン |
| (6) Establishmベットインt | April 1, 2006 |
| (7) Number of employees | 596 (as of March 31, 2013) |
| (8) Relationships with Minebea | Capital relationships & personnel relationships, etc.: None |
3. Future outlook
Impacts on the consolidated results of the Minebea Group due to and arising out of this transaction are yet to be determined at presベットインt.
| Company Name: | Minebea Co., Ltd. |
|---|---|
| Represベットインtative: | Yoshihisa Kainuma Represベットインtative Director, Presidベットインt and Chief Executive Officer (Code No. 6479, TSE Div. No.1) |
| Contact: | Yasuo Komine Gベットインeral Manager Corporate Communications Office |
| Tel: | +81-(0)3-6758-6703 |
Product information, contact and other context are subject to change without prior notice.
