NTN Establishes Holding Company in China

NTN Corporation (President: Yasunobu Suzuki) has received approval to establish a holding company in China to oversee its local production and sales subsidiaries, as well as new projects. The new company will play a key role in further strengthening NTN's business development in China. The holding company will oversee NTN's affiliates in China to achieve greater efficiency in the use of materials, products, equipment, technology, personnel, capital, information and other business resources. The new operation will also be mobilized to integrate procurement and sales channels, establish an R&D center to promote development systems with direct links to customers, advance new projects and raise the competitive edge of the NTN Group to cope with growing business needs in the rapidly expanding Chinese market. [New Company Profile] 1.Name NTN (China) Investment Corporation 2.Location Rm 2201A, Maxdo Center, 8 Xingyi Rd, Shanghai, China 3.Representative Director Shou Sakamoto (General Manager, NTN China Headquarters) 4.Registered Capital US$30 million (100% wholly financed by NTN Corporation) 5.Business a.Investment in NTN's affiliates in China for the production and sales of bearings, constant velocity joints and precision equipment and parts. b.Procurement of materials and parts required by NTN affiliates. c.Sales and technical support for products manufactured by NTN affiliates. d.Establishment and operation of R&D center. e.Consulting services to NTN affiliates. (Reference: NTN Investment in China) (1)Shanghai NTN Corp. Registered capital US$36.3 million (95% NTN-owned); production and sales of bearings and constant velocity joints. (2)NTN-Nidec (Zhejiang) Corp. Registered capital US$21 million (60% NTN-owned); production and sales of fluid dynamic bearing units. (3)Guangzhou NTN Yulon Drivertrain Corp. Registered capital US$10 million (60% NTN-owned); production and sales of constant velocity joints. (4)Changzhou NTN-Guangyang Corp. Registered capital US$12 million (51% NTN-owned); production and sales of automotive bearings. (5)Beijing NTN-Seohan Driveshaft Co., Ltd. Registered capital US$5 million (40% NTN-owned); production and sales of vconstant velocity joints.