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Release: March 23 , 1999

NGK ESTABLISHES A FINANCE AND INSURANCE SERVICE COMPANY AND A PERSONNEL SERVICE COMPANY.

NGK INSULATORS, LTD. ("NGK", President: Masaharu Shibata, Head Office: Nagoya) has established two new subsidiaries; NGK Life Co., Ltd.("NGK Life") to provide NGK employees with finance and insurance services and NGK Expert Co., Ltd.("NGK Expert") to effectively employ NGK's retirees.

NGK Life Co., Ltd. (finance and insurance service company)

[Purposes of establishment]

* To comply with diversification of financial and insurance products created by "Japanese Big Bang" financial deregulation, NGK Life will enrich finance and insurance services of the employees of NGK and its group companies.
* The insurance division separated from NGK Yu-Service Co., Ltd., which has been in charge of welfare services for the NGK Group employees, became independent as NGK Life. In addition to the existing non-life insurance agent business, the new company will deal with the life insurance agent business, financial consulting business, and real-estate consulting business so that total finance and insurance related services are provided to the NGK Group employees.
* NGK Life will reinforce its insurance agent business by merging the existing non-life insurance agents owned by the publicly traded companies (listed, over-the-counter) of the NGK Group which are listed below.

Parent companies Agents
NGK Insulators, Ltd. NGK Insurance Planning
Asahi Tec Corporation Asahi Service Co., Ltd.
Energy Support Corporation Energys Sangyo Corporation
Soshin Electric Co., Ltd. Shinyu Corporation

[Company outline]

Name of company :
NGK Life Co., Ltd.
Date of establishment :
April 1, 1999
Address :
2-56, Suda-cho, Mizuho-ward, Nagoya
(inside NGK's Head Office)
Paid-in capital :
10 million yen
Share holders : NGK Insulators, Ltd. : 60%
Asahi Tec Corporation : 20%
Energy support Corporation : 10%
Soshin Electric Co., Ltd. : 10%
President :
Hiroshi Wada, serves currently as GM, Finance & Accounting Dept. of NGK
No. of employee :
20
Nature of business :
(applies to all the NGK Group employees)
- Insurance agent (only deals with non-life insurance at establishment and extends to life insurance in the future)
- Financial consulting service
- Real-estate consulting service

NGK Expert Co., Ltd. (personnel service company)

[Purposes of establishment]

Due to the increase of retired employees, NGK Expert, for the sake of retaining skilled personnel, will select retirees who are more than 60 years old with indispensable expertise, techniques and skills, and will actively employ them in the NGK Group.

[Company outline]

Name of company :
NGK Expert Co., Ltd.
Date of establishment :
April 1, 1999
Address :
2-56, Suda-cho, Mizuho-ward, Nagoya
(inside NGK's Head Office)
Paid-in capital :
10 million yen (fully invested by NGK)
President :
Yuichi Yamamoto, serves currently as GM, Human Resources Dept. of NGK
Number of employees :
approx. 10/year(fluctuates based on the selected retirees)
Nature of business :
(applies to all NGK Group employees)
- Instruction and provision of information regarding management control, sales activities, material procurement, technology development, plant operation, quality control, etc.
- Instruction and provision of know-how for production technology and techniques

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