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Minebea to Withdraw from Power Supply Industry

Minebea Co. Ltd. (Minebea), parent company to NMB Technologies Corp. (NMB), has announced its withdrawal from the power supply industry by the end of 2003.

In response to rapid changes in the business environment, Minebea is focusing all efforts and resources on the company's core business areas of electro-mechanical components (ball bearings, cooling devices, and motors), keyboards, and audio speaker components.

Minebea will continue to maximize its competitive advantage of ultraprecision machining and mass production technologies in the manufacturing industry. The company will also continue to provide Global Product and Account support to address the technical and operational needs of each customer.

"Minebea anticipates product demand for high-precision electro-mechanical components to grow and it is vital to the company to be in a position to address this market change effectively," said Marty Yamanaka, president of NMB Technologies Corp. "This recent organizational change gives us the opportunity to focus on our core business areas and respond quickly to future market demands in those areas. Minebea remains committed to providing our customers with global resources, and quality products and processes to ensure mutual success in today's business environment."

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