Horiba to Enter Chinese Market Will Launch Wholly Owned Subsidiary in July

June 27, 2002


Horiba, Ltd., will establish Horiba Instruments (Shanghai) Co., Ltd., a wholly owned subsidiary in Shanghai, China in the last third of July, with an eye to producing and marketing its products and services to customers in China. The company is expecting that the new subsidiary will become a strategic production base for all group companies.

Horiba Instruments (Shanghai) Co., Ltd. plans to concentrate on marketing and servicing activities initially, with plans to begin production activities from next year, offering its products directly to customers in China. The company also plans to engage in consignment production by taking over the production activities of other group companies in the future. Horiba Ltd. is expecting that the new subsidiary will become a core production base for all group companies.

References

Outline of Horiba Instruments (Shanghai) Co., Ltd.
Establishment: July 31, 2002
Operation to Begin in: First Third of September
Capital: 100 million yen (Investment ratio 100%)
Board of Directors: Chairman/Atsushi Horiba,
Director/YukihiroMineno,Toshihiko Uno,Hideyuki Nishibun, Masanori Takagi (STEC)
General Manager:Makoto Shin
Number of Employees: 15 to 20 (including 2 Japanese expatriates) at the initial stage. An increase to 80 planned for 2004.
Address:No,1211 Ye Cheng Road, Jia Ding District, Shanghai, China
Plot: 1,200㎡
Total Floor Space: 1,508㎡
Target Sales: 100 million yen for fiscal year 2002, 600 million yen for fiscal year 2003, 1.2 billion yen for fiscal year 2004