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[Company Information]Nitto Denko Group Moves to Consolidate Sales Functions
10.27.2006
Japan's leading diversified manufacturing company Nitto Denko Corporation ("Nitto Denko") has secured its Board approval to enter into a basic agreement with three Nitto Denko Group ("Group") sales companies: Nissho Corporation, Kyoshin Co., Ltd. and Nitto Denko Matex Co., Ltd., for a consolidation of Group sales functions and the execution thereof, Nitto Denko announced today.
The objectives and the outline of the envisaged consolidation of Group sales functions ("Consolidation") are as follows:
1. Objectives of the Consolidation
Collectively as an intermediate materials manufacturer, the Group has successfully achieved growth together with its customers by addressing the customer needs and transforming them into real commercial products.
The market environment, however, continues to undergo big change, from business centered at the Japanese market to something turning increasingly global. Under the circumstances, the Group will adapt itself to such change and evolve further, in order to have a strong commercial setup which is capable of meeting customer needs continuously into the future.
For such purpose, the businesses conducted within the Group will be reexamined in terms of achieving simplicity and reformulated into setups commensurate with such intention, so that we the Group member companies as a single whole may take maximum advantage of our technology, production and sales functions. Thus we will pursue a further enhancement of the competitiveness of our Group as a single whole.
2. Outline of the Consolidation
Nitto Denko's three 100 percent-owned subsidiaries: Nissho Corporation, Kyoshin Co., Ltd. and Nitto Denko Matex Co., Ltd. will be consolidated into Nitto Denko with July 2007 as the target date, and their businesses will be succeeded to by Nitto Denko.
In the meantime, the Group's parts fabrication and resale businesses serving the electronics industry will be consolidated in Nissho with April 2007 as the target date.
With regard to some of the commodity tape businesses, they will be consolidated into another Group company Nitto Denko CS System Corp. with April 2007 also as the target date.
As for the specifics of the consolidation mentioned above, Nitto Denko looks forward to announcing them as soon as they are fixed.
Reference
(1) Kyoshin
| Full Name: | KYOSHIN Co., Ltd. |
| Head Office Address: | 16-7, Enokicho, Suita, Osaka, 564-0053 JAPAN |
| Representative: | Yasuo Yoneda, Representative Director |
| Paid-in Capital: | ¥767 million |
| Annual Sales: | ¥87,445 million |
| Shareholding: | Nitto Denko Corporation (100%) |
| Principal Business: | Sales of Industrial products, electronics products and performance products |
(2) Nissho
| Full Name: | NISSHO Co., Ltd. |
| Head Office Address: | 4-8-17, Nishitenma, Kitaku, Osaka, 530-0047, JAPAN |
| Representative: | Hiroshi Itou, Representative Director |
| Paid-in Capital: | ¥500 million |
| Annual Sales: | ¥66,965 million |
| Shareholding: | Nitto Denko Corporation (100%) |
| Principal Business: | Sales of Industrial products, electronics products and performance products |
(3) Matex
| Full Name: | NITTO DENKO MATEX Co., Ltd. |
| Head Office Address: | 2-9-12, Kajicho, Chiyodaku, Tokyo, 101-0044 JAPAN |
| Representative: | Tetsuo Iwaki, Representative Director |
| Paid-in Capital: | ¥350 million |
| Annual Sales: | ¥41,930 million |
| Shareholding: | Nitto Denko Corporation (100%) |
| Principal Business: | Sales of Industrial products, electronics products and performance products |
(4) Nitto CS System
| Full Name: | NITTO DENKO CS SYSTEM Co., Ltd. |
| Head Office Address: | 18, Nakaharachoazahirayama, Toyohashi, Aichi , 441-3194 JAPAN |
| Representative: | Masanori Takai, Representative Director |
| Paid-in Capital: | ¥80 million |
| Annual Sales: | ¥13,956 million |
| Shareholding: | Nitto Denko Corporation (100%) |
| Principal Business: | Manufacture, processing and sales of packaging materials and manufacture and sales of related machinery & equipment. |
Note:
Please note that the Paid-in Capital figure is as of March 31, 2006, and the Annual Sales figure is for Fiscal Year Ending March 31, 2006.
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