January 5, 2015
NGK INSULATORS, LTD.
NGK INSULATORS, LTD. (President Taku Oshima; Headquarters: Nagoya, Japan; NGK) announced today that it has changed the company name of NIPPON STEEL & SUMIKIN Electronics Devices Inc. to NGK Electronics Devices, Inc. having converted it to a consolidated subsidiary. As announced previously on September 3, 2014, NGK acquired all of the issued shares of this wholly owned subsidiary of Nippon Steel & Sumitomo Metal Corporation that manufactures and sells ceramics for industrial electronics, such as ceramic packages, from Nippon Steel & Sumitomo Metal Corporation.
The subsidiary was renamed with the NGK name upon consolidation to clarify that it has become a member of the NGK Group. The renaming was also meant as an impetus for NGK and the subsidiary to harness synergies between their respective technologies, and strive together for further growth in the electronics business.
|Before the Change||After the Change|
|Company Name||NIPPON STEEL & SUMIKIN Electronics Devices Inc.||NGK Electronics Devices, Inc.|
|Location||2701-1, Higashi-bun, Omine-cho, Mine, Yamaguchi Pref., Japan||Same|
|Name and Titles of Representatives||
|Business||Manufacture and sale of ceramic packages for semiconductors and ceramic electronic components||Same|
|Capital||3.45 billion yen||Same|
|Main Shareholder and Shareholding Ratio||Nippon Steel & Sumitomo Metal Corporation 100%||NGK INSULATORS, LTD. 100%|
|Employees||Unconsolidated 500, Consolidated 2,314 (As of March 31, 2014)||Same|
|Main Business Locations||Head Office/Plant (Mine, Yamaguchi Pref.); Tokyo Sales Head Office (Chiyoda-ku, Tokyo); Amagasaki Office (Amagasaki, Hyogo Pref.); Penang, Malaysia; Suzhou, China||Same|
|Consolidated Net Sales||24.5 billion yen (As of the year ended March 31, 2014)||Same|
January 5, 2015