China: Minebea¡¯s Chinese Subsidiary Celebrates Its Tenth Anniversary

In commemoration of its tenth anniversary, Minebea Electronics & Hi-Tech Components (Shanghai) Ltd. (¡°Shanghai Minebea¡±), a Chinese manufacturing subsidiary of Minebea Co., Ltd. (¡°Minebea¡±), presented two fire engines to the local government on May 20, 2004. The fire engines are to assist safety and disaster prevention activities in Qingpu District, Shanghai, where the subsidiary is based. Donee: Shanghai¡¯s Qingpu District Government Donated Vehicles: One Dong Feng153 (High-pressure pump vehicle) One Isuzu Total Amount: Equivalent of Rmb 920,000 (About ¥12 million) The presentation ceremony was held today at a Shanghai hotel, and attended by many people, including Shanghai, Qingpu District and Jinze Town government officials. Shanghai Minebea was established in Xicen Town (the present Jinze Town), Qingpu District, Shanghai in April 1994, as the Minebea Group¡¯s first manufacturing base in China. This subsidiary began production in October 1994, and currently produces miniature and small ball bearings at its Shanghai plants. In addition, it manufactures fan motors and measuring equipment at its Xicen plants. Its total investments in property, plant and equipment to date are about ¥50 billion, the number of employees is 5,200, annual sales are ¥26 billion, and the capital is ¥26.2 billion. Minebea, the parent company of Shanghai Minebea, has approached protection of the environment as an essential aspect of management. Shanghai Minebea also has taken all possible measures to protect the environment since starting operation in October 1994. In particular, the subsidiary has paid full attention to its wastewater processing facilities with a round-the-clock automatic monitoring system, as it is located near Lake Daishan-hu, the source of Shanghai¡¯s drinking water. Shanghai Minebea also established the Shanghai-Minebea Lake Daishan-hu Environmental Protection Fund in 1996. This fund aims to help preserve the quality of the water in Lake Daishan-hu and the environment of the surrounding area. The subsidiary¡¯s contributions to the fund are Rmb 11 million (approximately ¥146 million). To date, the fund has assisted environmental protection efforts - to plant cherry tree saplings along the highway in front of the Company, build green belts in adjacent areas, including donating saplings to the Shanghai Sapling Center, and install chemical toilets in local residences. Shanghai Minebea is held in high regard by the Chinese government for these efforts, and in August 2003, was ranked fourth overall (first among foreign companies) in the country¡¯s Top 100 Projects of National Environmental Protection program by the State Environmental Protection Administration of China.