Your location:  Home  >  Bearing News  >  World Bearing News
<<  Back

Notice Regarding the Conclusion of a Sponsor Agreement with SHICOH CO., LTD.

Resource from:  Minebea Co., Ltd Likes:216
Aug 13,2012
Minebea Co., Ltd. hereby announces that it has concluded a sponsor agreement as outlined below, with SHICOH CO., LTD. (Tokyo Stock Exchange Mothers Index, Stock Code: 6667, hereafter "SHICOH"), a company that today filed an application with the Tokyo District Court for civil rehabilitation proceedings. 1. Background SHICOH is presently engaged in the mass production and sale of auto-focus linear motors, which are mostly used in the micro cameras installed in mobile phone, smartphone and multifunctional tablet device. Severe business environment including depreciation cost burden associated with investment in facilities following a substantial decline in orders after September 2011, a sharp rise in the price of raw materials such as rare metals and increased labor costs in China, today resulted in the company filing an application to commence civil rehabilitation proceedings. Minebea has entered into a sponsor agreement with SHICOH, based on the premise of offering assistance toward the rehabilitation proceedings, in accordance with the said sponsor agreement. Outline of SHICOH CO., LTD 2. Future Schedule Minebea plans to conclude a business transfer agreement by around the end of August, 2012. 3. Future Outlook A separate announcement will be made should any significant impact on future consolidated earnings be identified as a result of the conclusion of this sponsor agreement. Contact of SHICOH CO., LTD: SHICOH CO., LTD. http://www.shicoh.com/ 3-9-6 Chuo Rinkan-Nishi, Yamato-shi, Kanagawa, Japan TEL 046-278-3570 / FAX 046-278-3576 Company Name: Minebea Co., Ltd. Representative: Yoshihisa Kainuma Representative Director, President and Chief Executive Officer (Code No. 6479, TSE Div. No.1) Contact: Yasuo Komine General Manager Corporate Communications Office Tel: +81-(0)3-5434-8637 Information in the press releases is current on the date of the announcement. Product information, contact and other context are subject to change without prior notice.
(Minebea Co., Ltd)
【CBCC News Statement】
1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"CBCC".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.

BRIEF INTRODUCTION

Cnbearing is the No.1 bearing inquiry system and information service in China, dedicated to helping all bearing users and sellers throughout the world.

Cnbearing is supported by China National Bearing Industry Association, whose operation online is charged by China Bearing Unisun Tech. Co., Ltd.

China Bearing Unisun Tech. Co., Ltd owns all the rights. Since 2000, over 3,000 companies have been registered and enjoyed the company' s complete skillful service, which ranking many aspects in bearing industry at home and abroad with the most authority practical devices in China.