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We hereby announce that at the board of directors held on September 19. 2006, the dissolution of MABUCHI PRECISION INDUSTRIES HONG KONG LTD. which is one of our consolidated subsidiary was resolved.The details are as follows:
Profile of the subsidiary
| 1) Name |
MABUCHI PRECISION INDUSTRIES HONG KONG LTD. |
| 2) Address |
Hong Kong |
| 3) Representative |
Nobuyo Habuchi |
| 4) Established |
September 26, 1995 |
| 5) Capital |
HK$40 million |
| 6) Share holders |
Mabuchi Motor Co., Ltd. 75%
Mabuchi Industry Co., Ltd.
(a wholly owned subsidiary of Mabuchi Motor Co.,Ltd.in Hong Kong) 25% |
| 7) Operations |
Production and distribution of motor shafts for small electric motors. |
| 8) Number of Employess |
183 (as of the end of June 2006.) |
| 9) Net sales of last 3 years |
FY2003 : 925 million yen
FY2004 : 875 million yen
FY2005 : 690 million yen |
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The background of the dissolution
Mabuchi Precision Industries Hong Kong Ltd.was established to produce parts of small electric motors under the processing deal contract with a Chinese company and distribute thereof to Mabuchi group companies. For the purpose of increasing the operational efficiency of the operation of Mabuchi group companies,we decided to consolidate operation by transferring the task of Mabuchi Precision Industries Hong Kong Ltd.to Mabuchi Industries Co.,Ltd.and dissolve Mabuchi Precision Industries Hong Kong Ltd.
Schedule of dissolution
December, 2006: The resolution over the dissolution at the extraordinary shareholders meeting of Mabuchi Precision Industries Hong Kong Ltd.(plan)
December, 2007: The completion of the dissolution procedure(plan)
The Impact of the dissolution on the performance of Mabuchi Motor Co., Ltd.
The impact of the dissolution of Mabuchi Precision Industries Hong Kong Ltd. on our performance of 2006 fiscal year is estimated to be minimal.
Inquiries: Tsutomu Takahashi, Public Relations Dept. (Tel: +81-47-710-1107)
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