NGK INSULATORS, LTD. (NGK) hereby announces that at a meeting of the board of directors held on March 17, 2014, it has resolved to dissolve a manufacturing subsidiary as detailed below.
1. Details of the subsidiary
(1) Company name: NGK INSULATORS SUZHOU CO., LTD.
(2) Location: Suzhou City, Jiangsu Province, China
(3) Representative: Hideaki Saito
(4) Business: Manufacture of power insulators
(5) Capital: 112 million US dollars
(6) Established: July 10, 2006
(7) Stockholder: NGK INSULATORS, LTD. 100%
2. Reason for dissolution
In order to cope with increased demand in the Chinese market for power insulators, a manufacturing subsidiary was established in Suzhou City, China in 2006. However, business results have been declining due to factors such as lack of growth in demand and harsh competition. It has been determined that a future recovery would be difficult, and as a result, it was decided to dissolve the subsidiary.
3. Future plans
The specific schedule for completion of liquidation has not been decided at this time.
4. Effects on business results
The subsidiary in question is a consolidated subsidiary of NGK, and its business results have already been incorporated into the Company's consolidated business results. As a result, the effects of the dissolution of the subsidiary will not have a significant effect on the consolidated business results. Additionally, there will be no changes to the business results forecast for the current fiscal year.
Notice Regarding Dissolution of a Subsidiary(PDF:32KB)
NGK Insulators, Ltd. specializes in the design, manufacturing and marketing of electric and electronic components and equipments. Net sales break down by family of products as follows:
- ceramic products (57.3%): for automotive and industrial applications;
- components and equipment for industrial manufacturing processes (24.2%): components for semiconductor manufacturing equipment, corrosion-resistant ceramic apparatuses for chemical industries, gas analyzer, industrial heating systems, refractory products and radioactive waste treatment systems;
- electronic components (10.5%): especially for semiconductors manufacturing and special metals processing;
- electric equipments (8%): insulators and electric devices, batteries for electric power storage, etc.
Net sales break down geographically as follows: Japan (24.5%), Asia (30.4%), North America (21.7%), Europe (21.3%) and other (2.1%).
NGK INSULATORS, LTD 
By 
