Komori Corporation announces the agreement with the Sutong Science and Technology Park in Nantong City, Jiangsu Province with regard to the establishment of a new subsidiary in China. Brief details of the application for company establishment are as follows.
1. Reason for Establishment
Komori decided to establish a new subsidiary in Jiangsu Province, China for the purpose of meeting growing demand for printing presses in the Company’s key market of China as well as to reinforce its cost competitiveness.
2. Overview of Subsidiary
(1) Company name:
Komori Printing Machine (Nantong) Co., Ltd.
Sutong Science and Technology Park, Nantong City, Jiangsu Province
Komori Corporation (100%)
(5) Principal businesses:
Manufacture and sale of printing presses, equipment and components
June 2012 (planned)
(7) Start of operations:
January 2013 (planned)
(8) Number of employees:
Approximately 100 (planned for the initial phase)
(9) Site area:
Approximately 30,000m2 (planned for the initial phase)
(10) Building space:
Approximately 12,000m2 (planned for the initial phase)
3. Impact on Future Business Performance
The impact on consolidated operating results for the fiscal year ending March 31, 2013 will be minor.