News / Notice Concerning Execution of Business Support Agreement between Minebea and MITSUMI
Date: 2016-08-10
Notice Concerning Execution of Business Support Agreement between Minebea and MITSUMI
Minebea Co., Ltd. ("Minebea") hereby announces that Minebea and MITSUMI ELECTRIC CO., LTD. ("MITSUMI") executed the Business Integration Agreement and the Share Exchange Agreement, both of which are dated March 30, 2016, and subsequently filed applications for exemptions from the antimonopoly regulations regarding the business combination associated with the scheduled business integration at the regulatory authorities in Japan and relevant overseas countries. We have received all necessary regulatory approvals from respective authorities concerned by the end of July. As such, it has been made possible for both companies to start integration preparations with a view to the planned business combination except in the product areas where Minebea and MITSUMI compete directly with each other.
In response to the above, Minebea entered into the Business Support Agreement with MITSUMI today on August 2, 2016, aiming at generating a synergy effect between the two companies immediately after the consummation of business integration.
Based on the said Business Support Agreement, Minebea management will provide MITSUMI with such management support as assistance for sales expansion, manufacturing support, etc. More specifically, through various support activities such as the introduction of new markets and customers by Minebea to MITSUMI, sales and marketing of MITSUMI products by Minebea as the distributor of MISTUMI as well as other cooperation and coordination between the companies with the aim of expanding sales, advice given by Minebea to MITSUMI on the production efficiency improvement of MITSUMI factories, secondment of Minebea engineers to MITSUMI, utilization of idle and surplus equipment and facilities of Minebea by MITSUMI, the joint procurement and centralized purchasing program shared by two companies, etc., thereby taking full advantage of internal resources of both companies, we will do our utmost to pursue the earliest possible synergetic effect to be generated in a wide variety of areas toward the consummation of business integration scheduled on March 17, 2017.
Company Name: Minebea Co., Ltd.
Representative: Yoshihisa Kainuma
Representative Director,
President and Chief Executive Officer
(Code No. 6479, TSE Div. No. 1)
Contact: Takayuki Ishikawa
General Manager
Corporate Communications Office
Phone: +81-(0)3-6758-6703
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