Akebono Brake to Establish New Company.Tokyo Tokyo (tō`kēō), city (1990 pop. 8,163,573), capital of Japan and of Tokyo prefecture, E central Honshu, at the head of Tokyo Bay. , Japan, Sept 19, 2007 - (JCN JCN Japan Corporate News JCN Journal of Cognitive Neuroscience JCN Journal of Cardiovascular Nursing JCN Journal of Christian Nursing JCN Job Control Number JCN Journal of Child Neurology JCN joint communications network (US DoD) Newswire) - Akebono Akebono means dawn in Japanese. Akebono may also refer to:
TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). : 7238) has announced plans to establish a joint venture to market brakes for industrial machinery and rolling stock rolling stock Any of various readily movable transportation equipment such as automobiles, locomotives, railroad cars, and trucks. Rolling stock generally makes good collateral for loans because the equipment is standardized and easily transportable among . Following the formation of a strategic alliance with the ITOCHU Corporation (ITOCHU) in December 2006, Akebono and ITOCHU studied the feasibility of a joint venture to market brakes for industrial machinery and rolling stock applications. Both companies decided to form a joint business to expand sales of industrial and rolling stock brakes, which Akebono manufactures, by utilizing the ITOCHU Group's sales network and marketing know-how, especially for pioneering markets outside Japan. The new company, to be called Akebono Brake Industrial Machinery & Rolling Stock Components Sales Co., Ltd., will be a consolidated subsidiary 60% owned by Akebono, and ITOCHU Automobile Corporation will hold the remaining 40%. The company plans to incorporate on October 1, 2007 and will begin operating by conducting market research. In the year ended March 31, 2007, Akebono registered approximately 10.0 billion yen in sales for industrial machinery and rolling stock brakes, and the majority of this came from customers in Japan. By establishing this joint venture, Akebono and ITOCHU aim to expand business outside Japan and increase sales in the segment to 15.0 billion yen (3.0 billion yen of which is expected from the new company) in the year ended March 31, 2011. Outline of new company
Name: Akebono Brake Industrial & Rolling Stock Components
Sales Co., Ltd.
Location: Hanyu City, Saitama, Japan
No. of shares
that can be issued: 24,000
Paid-in capital: 300 million yen
No. of shares issued
initially: 6,000
Shareholders: Akebono Brake Industry Co., Ltd.: 60%
ITOCHU Automobile Corporation: 40%
Representative: Kazuhiko Goto, President
(currently Member of the Board and Senior Managing
Executive Officer at Akebono Brake Industry Co., Ltd.)
Employees: 6
Establishment date: October 1, 2007
About Akebono Brake Akebono Brake Industry Co., Ltd. (TSE:7238), founded in 1929, is a world leader in advanced brake and friction material development and production. Akebono's portfolio includes brake products for automobiles, motorbikes, rolling stock, industrial machinery, and sensor A device that measures or detects a real-world condition, such as motion, heat or light and converts the condition into an analog or digital representation. An optical sensor detects the intensity or brightness of light, or the intensity of red, green and blue for color systems. products for automobiles. For automotive OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and disc brake pads brake pad n. A flat block that presses against the disk of a disc brake. Noun 1. brake pad - one of the pads that apply friction to both sides of the brake disk , Akebono has the top share in Japan at approximately 40% and a global market share of approximately 20%. The Akebono Group operates R&D centers in Japan, the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and France, and has wholly owned or affiliated manufacturing facilities in Japan, the United States, France, China, Thailand and Indonesia. Akebono recorded net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight of 173.2 billion yen in the fiscal year ended March 31, 2007, and employs nearly 7,000 people worldwide on a consolidated basis. For more information, visit www.akebono-brake.com. Source: Akebono Brake Contact: Matthew Nicholson Corporate Communications Office Akebono Brake Industry Co., Ltd. Tel: +81-90-5794-9059 E-mail: matthew-nicholson@akebono-brake.co.jp Japan Corporate News Network. All rights reserved. |
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