Announcement of the closedown of a subsidiary
March 26, 2013
Nissha Printing Co.,Ltd.
Nissha Printing Co., Ltd. (hereinafter referred to as "Nissha") hereby announces that it has decided to terminate the business activities of Nitec Mold Engineering, Inc. (hereinafter referred to as "NME"), a subsidiary of the company, as of June 30, 2013.
Reason for the closedown
NME has mainly been responsible for the manufacture and sale of IMD molds in the company's Industrial Materials Business. However, the significance of manufacturing IMD molds domestically has decreased due to changes in the market environment surrounding the Industrial Materials Business and its business structure. In addition to such environmental changes surrounding IMD molds, demand for the general molds that NME is engaged in has also decreased. Moreover, Nissha decided to close down NME because Nissha (Kunshan) Precision IMD Mold Co., Ltd., a manufacturing subsidiary located in China, is playing its role as the core base for IMD mold manufacturing within the Nissha Group.
Overview of NME
| Company name | Nitec Mold Engineering, Inc. |
|---|---|
| Address | 3-24-1 Namikawa, Oi-cho, Kameoka City, Kyoto Prefecture |
| Date of establishment | December 12, 1978 |
| Name of representative | Mikito Ozaki, Representative Director |
| Description of business | Manufacture and sale of IMD molds and general molds |
| Capital | 30 million yen |
Future prospects
March 31 2013: Termination of order receipt activities
June 30, 2013: Termination of business operations
June 30, 2013: Termination of business operations
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