Announcement on Closure of Saitama Murata Manufacturing Co., Ltd. (formerly Toko Co., Ltd.) Headquarters (Toko Hong Kong)
Latest update time：2021-10-27 21:23
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Murata Manufacturing Co., Ltd. will close the Hong Kong TOKO Electronic Mfg. Co., Ltd. headquarters of its wholly-owned subsidiary, Saitama Murata Manufacturing Co., Ltd. (formerly TOKO Corporation), on October 30, 2021.
Saitama Murata Manufacturing Co., Ltd. was established in 1955, located in Tsurugashima City, Saitama Prefecture, Japan, with a capital of 100 million yen, and its major shareholder is Murata Manufacturing Co., Ltd. (100%). Hong Kong TOKO Electronic Mfg. Co., Ltd. was established in 1963, and its major shareholder is Saitama Murata Manufacturing Co., Ltd. (100%).
The Saitama Murata Manufacturing Group has contributed to the development of the telecommunications market through the development and production of coil products. However, the business environment is very difficult as demand in major markets such as the smartphone market diversifies, product development cycles accelerate, and competition with overseas manufacturers intensifies. Hong Kong Toko, which was responsible for business management and procurement and logistics management as the factory's umbrella company, has now decided to cease operations. In the future, we will strive to establish a stronger management system within the entire group.
The closure of the consolidated location will have little impact on the Company's performance this year.
Murata Manufacturing Co., Ltd. is a global leader in the design, manufacture and sale of ceramic-based passive electronic components and solutions, communication modules and power modules. Murata is committed to developing advanced electronic materials and leading-edge multifunctional and high-density modules. The company has employees and manufacturing sites around the world.
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