Release: Oct 25, 2011
Company Name: NGK INSULATORS, LTD.
Listing Code: 5333
Stock Exchange Listings: Tokyo and Nagoya
Representative: Taro Kato (Mr.), President
Contact: Susumu Sakabe (Mr.), Director & Senior Vice President
Certain news media today carried reports concerning a fire related to NAS batteries on September 21 citing the Company's website. NGK INSULATORS, LTD. did not make this news announcement.
NGK deeply regrets any worry or inconvenience to customers, local authorities and residents caused by the fire involving NAS batteries.
At present, the fire authorities are investigating the cause of the fire. As the Company reported previously, NGK formed an Accident Investigation Committee (chaired by Takeyuki Mizuno, Director and Senior Vice President) on September 21, which is looking into the cause of the fire and measures to prevent a reoccurrence. However, this investigation will take some time.
NAS batteries are a mega watt-class electricity storage system and NGK was first in the world to commercialize them. Featuring large capacity and high energy density, NAS batteries help with load leveling at times of peak demand and stabilizing intermittent renewable energy, contributing to power-saving measures, reduced energy costs and lower environmental loads. Customers have shown strong interest in these products. However, until the Company identifies the cause of the recent fire and formulates measures to prevent a reoccurrence, NGK is placing top priority on safety and therefore asks customers to temporarily stop using NAS batteries in existing facilities as a precautionary measure. At the same time, NGK will respond to individual customer's circumstances regarding new shipments. NGK apologizes for any inconvenience to customers.
NGK is presently looking at the impact of the fire on its operating results, and will promptly make another announcement if there is the possibility of damages or if it is necessary to revise business forecasts.