Notice of closure of Sheng Long TOKO Tech, a production subsidiary of Saitama Murata Manufacturing Co., Ltd.’s (formerly: TOKO, INC.)

NewsArticleTitle

11/24/2020

Murata Manufacturing Co., Ltd.
President: Norio Nakajima  

Saitama Murata Manufacturing (formerly: TOKO, INC.), a wholly-owned subsidiary of Murata Manufacturing Co., Ltd. (hereafter: the Company), is closing its production subsidiary Sheng Long TOKO Tech in December 2020.

Saitama Murata Manufacturing Group (formerly: TOKO Group) has contributed primarily to the development of the telecommunications market through its design and production of coil products.    Due to the diversification of market needs in major markets, such as smartphones, combined with the acceleration of the development cycle and intensifying competition, Sheng Long TOKO Tech is facing a difficult business environment, including decreased demand and intensifying price competition.  Given all of these factors, the Company has decided to end production at this subsidiary and close it. Going forward, the entire Murata Manufacturing Group will strive to build improved production capabilities and stronger management structures.

The impact on the Company’s performance this fiscal year due to the closing of these production subsidiaries is negligible.

 

Saitama Murata Manufacturing summary

Name  Saitama Murata Manufacturing Co., Ltd. 
Location Tsurugashima City, Saitama Prefecture
Founded on August 9, 1955
Capital 100 million yen
Major shareholder Murata Manufacturing Co., Ltd. (100%)

 

Sheng Long TOKO Tech summary

Name  Sheng Long TOKO Tech (Shenzhen) Co., Ltd.
Location Block B, C, D, Toko Technology Park, 8 Gao Ke Avenue, Tongle Community,
Longgang Subdistrict, Longgang District, Shenzhen City,
Guangdong Province, P.R. China
Founded on August 10, 2005
Capital 18,886,716 USD
Major shareholder TOKO Electronic Mfg. Co., Ltd. (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 at www.murata.com