10/22/2021
Murata Manufacturing Co., Ltd.
President: Norio Nakajima
Saitama Murata Manufacturing Co., Ltd. (formerly: TOKO, INC.), a wholly owned subsidiary of Murata Manufacturing Co., Ltd. (hereinafter "the Company") is closing its Hong Kong operations center, Hong Kong TOKO (TOKO Electronic Mfg. Co., Ltd.), on October 30, 2021.
The Saitama Murata Manufacturing Group has contributed to the growth of the telecommunications market through the development and production of coil products, Accelerated development cycles and intensified competition from overseas smartphone manufacturers created significant market challenges. As the factory operations center, Hong Kong TOKO was responsible for business management, procurement, and logistics activities, but given the previously mentioned factors, the decision was made to close the center. Going forward, Saitama Murata Manufacturing Group will strive to build a stronger management structure.
The impact on the Company's performance this fiscal year as a result of the closure of the Hong Kong operations center will be negligible.
Overview of Saitama Murata Manufacturing
| Name |
Saitama Murata Manufacturing Co., Ltd.
|
Location
|
Tsurugashima City, Saitama Prefecture
|
Founded
|
August 9, 1955
|
Capital
|
100 million yen
|
Major shareholder
|
Murata Manufacturing Co., Ltd. (100%)
|
Overview of Hong Kong TOKO
Name
|
TOKO Electronic Mfg. Co., Ltd.
|
Location
|
UnitB, 12/F, 52 Hung To Road, Kwun Tong, Kowloon, Hong Kong
|
Founded
|
August 16, 1963
|
Capital
|
259,795,700HKD
|
Major shareholder
|
Saitama Murata Manufacturing (100%)
|
Murata in Brief
Murata Manufacturing Co., Ltd. is a worldwide leader in the design, manufacture and sale of ceramic-based passive electronic components & solutions, communication modules and power supply modules. Murata is committed to the development of advanced electronic materials and leading edge, multi-functional, high-density modules. The company has employees and manufacturing facilities throughout the world.
For more information, visit Murata's website