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2002 News Release
September 5 
September 5, 2002
Hitachi Metals Establishes Sales Base in China
Tokyo, Japan, September 5, 2002-Hitachi Metals, Ltd. announced today that it has established a new sales subsidiary, Hitachi Metals (Shanghai) Ltd., in Shanghai, China, through which it will expand into the growing Chinese market and continue to augment its business there.
1. Background
Hitachi Metals' domestic customers have been accelerating the transfer of production operations to China as well as converting to local procurement of components and materials from the Chinese market. China is also expected to expand in the future not only as a global production base, but also in terms of its commercial market.In consideration of these factors, Hitachi Metals made the decision to establish a local sales base focused on the Chinese market and augment its sales operations on the Chinese mainland.
2. The new company's establishment
For many years Hitachi Metals has supported local materials procurement, conducted market research, provided technical service for specialty tool steels, and implemented other such activities in China through its representative offices in Beijing and Shanghai. In terms of sales, imports from Japan have been sold to Hong Kong, Taiwan, and China through Hitachi Metals Hong Kong, Ltd.Through the newly established local subsidiary, in addition to imports from Japan, Hitachi Metals will now conduct local sales of ferrite cores from Hitachi Metals Hong Kong's Guandong Plant and multilayered components and isolators from Hitachi Metals (Suzhou) Electronics, Ltd.'s Jiangsu Plant.
Going forward, to swiftly expand its business in China, Hitachi Metals will gradually transfer operations currently handled by Hitachi Metals Hong Kong to the new subsidiary.
3. Overview of the new company
| (1) Company name: | Hitachi Metals (Shanghai), Ltd. | |
| (2) Location: | Room# 10H, Majesty Building 138 Pu Dong Da Dao, Shanghai, 200120, China | |
| (3) Date est.: | July 17, 2002 | |
| (4) Capital: | US$200,000 (approx. ¥24 million, provided entirely by Hitachi Metals) | |
| (5) President: | Ryosuke Yasuda (Manager of Hitachi Metals' Shanghai Representative Office) | |
| (6) Employees: | Five at time of establishment | |
| (7) Products handled: | Specialty steels, multilayered components and isolators for mobile phones, and other products of the Hitachi Metals Group | |
| (8) Sale projections: | Fiscal 2002: approx. ¥500 million Fiscal 2003: approx. ¥1.1 billion Fiscal 2005: approx. ¥1.6 billion |
Inquiries:
| Hitachi Metals' customers: | Sales Planning Center Officer in charge: Watanabe Tel: +81-3-5765-4091 |
|
| Press matters: | Public Relations Office Officer in charge: Kobayashi Tel:+81-3-5765-4079 |
