JUKI CHINA acquires an operating company in China as a wholly owned subsidiary and gives it a new name
JUKI CORPORATION (head office located in Tama City, Tokyo, Japan; Akira Kiyohara, President; hereinafter “JUKI”) announced that JUKI (CHINA) CO., LTD. (hereinafter “JUKI (CHINA)”) has acquired 100% ownership of JUKI XINXING INDUSTRY CO., LTD. (head office located in Langfang City, China; Hirofumi Goto, Executive Director; hereinafter “JUKI XINXING INDUSTRY”).
(Note) JUKI (CHINA) is a JUKI subsidiary in China, and JUKI XINXING INDUSTRY is a JUKI joint venture in China.
From its establishment in 1995, JUKI XINXING INDUSTRY operated as a joint venture between JUKI (CHINA) and its partner company, JIHUA 3534 CLOTHING CO., LTD. (hereinafter “JIHUA 3534 CLOTHING”). In September of this year, JUKI (CHINA) acquired all of the equity stakes in JUKI XINXING INDUSTRY (10.09%) held by JIHUA 3534 CLOTHING, thereupon making JUKI XINXING INDUSTRY a wholly owned subsidiary.
Effective upon its acquisition, JUKI XINXING INDUSTRY took the new name JUKI (LANGFANG) INDUSTRIAL CO., LTD. and newly established a factory at the address below.
JUKI (LANGFANG) INDUSTRIAL CO., LTD. mainly engages in the manufacture of industrial sewing machines and other products in China. While continuing to promote smart factory operations at its new factory, the company will strive to speed up management and improve its integrated management within the JUKI Group. The company will thereby further strengthen its operations to manufacture and supply sewing machines and other products as a wholly owned subsidiary of JUKI (CHINA).
|Date of change||September 22, 2020|
|New Company Name||JUKI (LANGFANG) INDUSTRIAL CO., LTD.
(Old Company Name: JUKI XINXING INDUSTRY CO., LTD.)
|New address||No. 17 Baihe Road, Langfang Economic & Technical Development Zone, Hebei Province, China
(Old address: 160 Guangyang Road, Langfang City, Hebei Province, China)
|Legal Representative||Hirofumi Goto, Executive Director|
|Capital stock||160 million RMB|
|Shareholder||JUKI (CHINA) CO., LTD. Shareholding ratio: 100%.|
|Business lineup||Manufacture of Industrial Sewing Machines and other products|
|Net Sales||254 million RMB (approx. 4,004 million yen in Fiscal 2019 ended December 2019)|
|Number of employees||256 (as of December 31, 2019)|