Mita Industrial's Plan Accepted By District Court
MITA INDUSTRIAL'S PLAN
ACCEPTED BY DISTRICT COURT
MITA CHANGES ITS NAME TO KYOCERA MITA CORPORATION
Auckland New Zealand, January 18, 2000 - Mita New Zealand Limited announced that the Reorganisation Plan of its parent company, Mita Industrial Co., Ltd. was accepted by the Osaka District Court in Japan on January 18, 2000. Mita Industrial will emerge as a subsidiary of Kyocera Corporation which will infuse 12 billion yen of new capital into the company in April 2000. Mita Industrial has changed its name to Kyosera Mita Corporation.
Mr Koji Seki who has been the Operational Trustee of Mita will serve as President and Representative Director of Kyocera Mita Corporation. Mr Seki stated, "We are pleased that the Court accepted Mita's Plan. Now, we can concentrate our efforts on delivering the best digital copiers, printers, and fax machines to the world market". Mita New Zealand Limited. which is responsible for marketing Mita copiers, facsimiles and computer printers in New Zealand, will be changing its name to Kyocera Mita New Zealand Ltd.
Under Kyocera's ownership there will be an integration of technologies and resources between companies. This will provide the Kyocera Mita Corporation with enhanced research and development, state-of-the-art printer controllers and network technology, and shortened development times. The result will be digital copier and printer products that are more innovative and competitive from a feature and price standpoint
For the last four years in a row, Kyocera Corporation has been named by Industry Week as "one of the top 100 best managed companies in the world". With the implementation of the Kyocera management know-how, and with the integration of Kyocera's highly-efficient manufacturing, "cell" production, and quality control systems, customers of Kyocera Mita Corporation will experience more advanced and reliable products.
Founded in 1959 as a manufacturer of fine ceramics, Kyocera Corporation based in Kyoto, Japan, has diversified from microelectronic packaging and electrical components into optical and electronic equipment, including cameras, laser printers and telecommunications equipment. In December last year approval of the purchase of the production division of the US telecommunications giant Qualcomm (headquartered in California) was reported and gathered a lot of attention. Today, Kyocera is among the leading manufacturers of high-tech ceramics, electronic components, solar cells, PDC based cellular telephone handsets and laser printers with sales in excess of $6.6 billion by the fiscal year ending March 31, 1999. The Kyocera group employs approximately 44,000 people in more than 20 nations, including more than 21,000 outside of Japan. For more info, visit http://www.Kyocera.com.
headquarters will be located in Osaka Japan. With 5,000
employees worldwide and overall sales of over $1.2 billion,
Kyocera Mita will be one of the world's leading document
imaging companies. For more info, visit