2004 The former Hitachi Cable News Release
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Hitachi Cable Purchases a Overseas Leadframe Manufacturing Company of Dowa Mining
Hitachi Cable, Ltd. (headquarters: Chiyoda Ward, Tokyo; President & CEO: Norio Sato; hereinafter referred to as "Hitachi Cable") and Dowa Mining Co., Ltd. (headquarters: Chiyoda Ward, Tokyo; CEO/President & Representative Director: Hirokazu Yoshikawa; hereinafter referred to as "Dowa Mining") have agreed to transfer a 100% stoke in DOWA Hightech Philippines, Inc. (shareholders: Dowa Mining, 80%; Dowa Hightech Co., Ltd., 20%; headquarters: Republic of the Philippines; hereinafter referred to as "DHP"), a consolidated subsidiary of Dowa Mining engaged in leadframe production, to Hitachi Cable Precision Co., Ltd. (headquarters: Yonezawa City, Yamagata Prefecture; hereinafter referred to as "Hitachi Cable Precision") and Hitachi Cable Singapore, Pte. Ltd. (headquarters: Singapore; hereinafter referred to as "HCS"), consolidated subsidiaries of Hitachi Cable, on April 30.
The Hitachi Cable group has been involved in the leadframe business, centered on Hitachi Cable Precision. Overseas operations include HCS and Hitachi Cable PS Techno (Malaysia) Sdn. Bhd. (headquarters: Malaysia; hereinafter referred to as "PS Techno"). In recent years, Southeast Asia has become an increasingly important market for semiconductor leadframes, and many manufacturers are expanding their business opportunities in the area. The Hitachi Cable group had faced a pressing need to increase its production capacity beyond the capacity of HCS and PS Techno. The group intends to respond to the growing demand in Southeast Asia with inclusion of DHP, a well-known integrated manufacturer of leadframes.
Dowa Mining agreed to transfer DHP to Hitachi Cable as part of its strategy to target promising business areas and concentrate management resources on the targeted areas. The stock transfer will have little impact on customers and employees of DHP.
Hitachi Cable will reinforce its overseas multi-purpose leadframe operation by adding DHP as a subsidiary. At the same time, the group will strive to strengthen and expand its semiconductor packaging business, including intensive research and development of new structure packaging at Hitachi Cable Precision, by utilizing its integrated manufacturing system which handles both raw materials and product processing.
| 1. Name: | DOWA Hightech Philippines, Inc. |
|---|---|
| 2. Location: | Dasmarinas, Cavite, Republic of the Philippines |
| 3. Representative: | President Tatsuo Nagano (Mr. Nagano will be replaced by a new president transferred from a Hitachi Cable Group after April 30, 2004) |
| 4. Establishment: | Dec-94 |
| 5. Capital: | 100 million pesos (200 million yen: 1 peso = 2 yen) |
| 6. Shareholders: | Dowa Mining 80%, Dowa Hightech Co., Ltd. 20% <After April 30, 2004> Hitachi Cable Precision 70%, HCS 30% |
| 7. Number of Employees: | 265 |
| 8. Sales: | 554 million pesos (fiscal 2002 (January 1, 2002 - December 31, 2002), 1,108 million yen: 1 peso = 2 yen) |
| 1. Name: | Hitachi Cable Precision Co., Ltd. |
|---|---|
| 2. Location: | Yonezawa City, Yamagata Prefecture |
| 3. Representative: | President Yoshinori Bando (transferred from Hitachi Cable) |
| 4. Establishment: | 1-Dec-02 |
| 5. Capital: | 400 million yen |
| 6. Shareholder: | Hitachi Cable 100% |
| 7. Number of Employees: | 342 |
| 8. Sales: | 3.9 billion yen (fiscal 2003 (April 1, 2002 - March 31, 2003)) |
| * | Due to the transfer of operations from Hitachi Cable during fiscal 2004, the company's sales for fiscal 2004 are expected to reach about 9.6 billion yen. |
| 1. Name: | Hitachi Cable (Singapore) Pte. Ltd. |
|---|---|
| 2. Location: | Jurong, Singapore |
| 3. Representative: | President Kunio Nakagawa (transferred from Hitachi Cable) |
| 4. Establishment: | Jul-74 |
| 5. Capital: | 16 million Singapore dollars (1,008 million yen: 1 Singapore dollar = 63 yen) |
| 6. Shareholders: | Hitachi Cable Group 93%, Others 7% |
| 7. Number of Employees: | 361 |
| 8. Sales: | 176 million Singapore dollars (fiscal 2002 (January 1, 2002 - December 31, 2002), 11,088 million yen: 1 Singapore dollar = 63 yen) |
| 1. Name: | Dowa Hightech Co., Ltd. |
|---|---|
| 2. Location: | Honjo City, Saitama Prefecture |
| 3. Representative: | President Hiroshi Wada |
| 4. Establishment: | Mar-47 |
| 5. Capital: | 450 million yen |
| 6. Shareholders: | Dowa Mining 98%, Others 2% |
| 7. Number of Employees: | 186 |
| 8. Sales: | 4.4 billion yen (fiscal 2003 (April 1, 2002 - March 31, 2003)) |