• SASC

New affiliate in Indonesia 2011.9.1

Chuo Spring Co., Ltd. (President: Tokuyuki Takahashi; Headquarters: Nagoya, Aichi Japan) announces that its Board has decided to establish a new engineering subsidiary in Indonesia at the Board Meeting held on September 27, 2011 as follows;

1. Purpose of the establishment
To minimize the lead-time for development, designing and manufacturing of machinery & equipment and the development and designing of products to correspond to the rapidly growing Indonesia market in a timely manner.

2. Overview of the new company
(1) Company Name: P. T. Chuhatsu Techno Indonesia
(2) President: Keiji Hasegawa (Mr., Director of Chuo Spring Co., Ltd.)
(3) Address: Cibitung-Bekasi, Indonesia
(4) Establishment: January 1, 2012
(5) Fiscal term: April-March
(6) Business outline: - Development, designing and manufacturing of machinery
and equipment, and
– Development and designing of automotive parts
(7) Employees: Approx. 10 (as at the end of 2012)
(8) Capital: Approx. JPY10million equivalent
(9) Ownership: Chuo Spring Co., Ltd. 100%
(10) Main customers: Chuo Spring Co., Ltd., P. T. Chuhatsu Indonesia
(11) Launch of operation: Early January 2012

3. Outlook for the first 3 years
                                                (unit: Million JPY)

2012 (plan) 2013 (plan) 2014 (plan)
Sales 13 15 16

Impact to the consolidated financial status of Chuo Spring Co., Ltd. by the establishment of this subsidiary is minimal.