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Panasonic Announces Dissolution of Joint Venture of Motor Business
OSAKA, Japan --(Business Wire)--
Panasonic (News - Alert) Corporation (NYSE:PC)(TOKYO:6752)("Panasonic") today announced
that Minebea Co., Ltd. ("Minebea") and Panasonic reached an agreement
today that Panasonic would promptly transfer all of its shares in their
joint venture of Minebea Motor Manufacturing Corporation to Minebea and
dissolve their alliance.
There shall be no effect on the consolidated financial outlook of
Panasonic for fiscal year ending March 31, 2013.
For further detail, please see the attached.
Minebea Co., Ltd.
Panasonic Corporation
Dissolution of Joint Venture of Motor Business
Minebea Co., Ltd. ("Minebea") and Panasonic Corporation ("Panasonic")
today reached an agreement that Panasonic would promptly transfer all of
its shares (40 percent of the capital) in their joint venture of Minebea
Motor Manufacturing Corporation ("Minebea Motor") to Minebea and
dissolve their alliance.
Minebea Motor had been set up on April 1, 2004, integrating the fan
motor, stepping motor, vibration motor, and DC brush motor business of
Minebea and Panasonic, to develop a globally competitive business by
leveraging the ultra-precision machining technology, mass production
technology, and cost competitiveness of Minebea with the innovative
product development strength of Panasonic. On April 1, 2010, businesses
for small brushless motors, power brushless motors, and polygon mirror
scanner motors had been transferred to Minebea Motor from Panasonic for
further business development. However, the environment of the motor
manufacturing business is changing recently, Minebea and Panasonic
reached an agreement to dissolve the joint venture and to seek further
business expansion for Minebea Motor to continue on as a wholly-owned
subsidiary of Minebea, after reconsiderations for businesses.
Minebea, Minebea motor and Panasonic will maintain the further
collaborative relationship through continuous products supply in future.
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Minebea Motor Manufacturing Corporation
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Representative:
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Hiroyuki Akatsu
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Location:
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4106-73 Oaza Miyota , Kitasaku-gun, Nagano prefecture
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Description of businesses:
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Development, manufacturing, and sales of small motors for electronic
devices and information equipment
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Date of establishment:
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April 1, 2004
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Capital:
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10 Billion JPY
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Ratio of capital:
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Minebea 60%, Panasonic 40% (as of end-January, 2013)
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Sales :
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54.4 Billion JPY (year ended in March, 2012)
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Employees:
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7,493 (as of end-March, 2012)
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Production/Development Bases:
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Karuizawa, Hamamatsu, Yonago, Thailand, Malaysia, China, Cambodia
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¦ Media Inquiries:
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Minebea Co. Ltd., Corporate Communications Office
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TEL +81-3-6758-6703
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Panasonic Corporation, Groupwide Brand Communications Division,
Public Relations Group
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TEL +81-6-6908-0447 (Osaka)
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TEL +81-3-3574-5661 (Tokyo)
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