| May 23, 2003 |
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| Company Name: |
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ISEKI & CO., LTD. |
| Company representative: |
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Hiroyuki Nakano, President |
| Company code: |
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6310 |
| Stock Exchange Listings: |
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First Section, Tokyo Stock Exchange |
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First Section, Osaka Securities Exchange |
| Enquiries: |
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Kazuyoshi Sonoda, Director
(Telephone: +81-3-5604-7710) |
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| To whom it may concern, |
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| Establishment of local production company in China |
At Iseki & Co., Ltd., we have decided, after long and careful consideration,
to establish a local production company in China for the production and sale of
agricultural machinery and to expand the scope for procurement of parts for the
Japanese domestic market.
This new company will supply Japan with the parts they produce and will also serve
as a center for procuring other parts.
From FY 2005, we plan for the company to commence the manufacture and sale of
products to the Chinese market, which is expected to boom in the future as a market
for agricultural machinery. |
| Details of the production company are as follows. |
| 1. |
Location |
Chaohu Street, Baizhang Town, Changzhou, Jiangsu, China |
| 2. |
Date of establishment |
June 2003 (tentative) |
| 3. |
Company overview |
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| (1) |
Company name |
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Iseki - Changzhou Mfg. Co., Ltd. |
| (2) |
Principal business |
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Manufacture, sale and provision of after-sales service of farming equipment
and related parts, and all operations incidental to this |
| (3) |
Magnitude of sales |
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 1 billion per year in FY 2006 |
| (4) |
Start-up capital |
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USD 2.10 million (100% equity owned by Iseki & Co., Ltd.) |
| (5) |
Senior management |
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Chairperson  Katsumi Imanishi |
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(Managing Director and Senior General-Division Manager
of Development and Production, Iseki & Co., Ltd.) |
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| Vice Chairperson, Accountant General
Michihiro Watanabe |
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(Iseki & Co., Ltd.) |
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| (6) |
Personnel |
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20 people (2003) 50 people (2006) (tentative) |
| (7) |
Production start |
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January 2004 (tentative) |
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