Information contained in the news releases are current as of the date of the press announcement, but may be subject to change without prior notice.
August 2, 2010
TDK Corporation (President: Takehiro Kamigama) hereby announces the merger of two consolidated subsidiaries, TDK Shonai Corporation and TDK Iida Corporation, as of October 1, 2010.
- Purpose of merger
In order to respond to such factors as changes in the economic structure and intensification of the worldwide business environment and to survive in the global market, TDK will integrate and reorganize its domestic coil product manufacturing subsidiaries, which up to now have been separated, and thereby build a more efficient business operation setup.
- Merger policy
(a) Date of merger
October 1, 2010
(b) Method of merger
This will be an absorption-type merger, with TDK Shonai Corporation continuing to exist and TDK Iida Corporation being wound up.
- Outline of companies to merge
(1) Name TDK Shonai Corporation TDK Iida Corporation (2) Business Electronic component manufacturing (inductor products) Electronic component manufacturing (inductor products) (3) Establishment 1968 1966 (4) Location of head office Tsuruoka City, Yamagata Prefecture Iida City, Nagano Prefecture (5) President Yoshinobu Sasaki Yoshinobu Sasaki (6) Capital ¥110 million ¥110 million (7) Main products Inductor products and other electronic components Inductor products (winding coils)
- Conditions after merger
From October 2010 TDK Iida Corporation will change its name to the Iida Plant of TDK Shonai Corporation, but as before it will continue to manufacture electronic components (inductor products) as a production sector of TDK Shonai Corporation.
- Impact on business performance
This will be a merger of consolidated subsidiaries, and the impact on TDK's consolidated business performance will be negligible.
For further information, contact Mr. Kogure in the Corporate Communications Dept.