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2001


November 6 TPM AWARD FOR EXCELLENCE

October

5

The Establishment of a New Company in Indonesia

August

30

Runner-up in This Year's E.V. Ecorun in SUGO!

August

22

Victory in EV Eco-Run race!

August

10

The Establishment of a New Company in the Philipp

July

9

The Introduction of a New Personnel System

May

9

A Valiant Effort in the EV Eco- Run

April

16

MITSUBA Concludes Overseas Licensing Agreement

March

28

The establishment of a new company in Hungary

March

27

The establishment of a new company in India

March

13

Quality System Requirements QS-9000 Certification for All Sites

February

27

ISO14001 certification


TPM AWARD FOR EXCELLENCE

We are pleased to announce at this time that our company has received two Awards for Excellence at the 2001 productive Maintenace Achievement Awards Ceremony sponsored by the Japan Plant Maintenance Association (Foundation). These awards included a Class 1 TPM Award for Continued Excellence presented to our Niisato Plant, and a Class 1 Award for Excellence presented to our Tone Plant. Details regarding these awards are as follows.

November 6, 2001

1. The Awards Ceremony
Time: Tuesday, November 6, 2001
Place: Tokyo International Forum
Chiyoda-ku, Tokyo

2. Awards Received
1) Awards and Plants
.Niisato Plant Class 1 TPM Award for Continued Excellence
.Tone Plant Class 1 TPM Award for Excellence
2) Active and Evaluate Points
*Niisato Plant
The development of activities, at our own expense, involving the addition of MNP (MITSUBA Niisato Pulsate Production System) to 8-pillar TPM Activity through the construction of a personal computer system, was carried out. This led to a realization of the capacity to share information simultaneously and to achieve real time management practices.
* Tone Plant
Through the elevation of employee knowledge and skills, employees were able to gain self-reliance and to produce their own equipment, layouts, etc. This, in turn, served to support an increased self-reliance with regard to plant facilities as well as advanced processing technology and facilities management. The end result was the development of significant independence as a factory with regard to the manufacturing of our products.

3. Awards Received
* Niisato Plant
.Inventory turn over BM rate 1/3
.Delivery of poor quality items BM rate 1/10
* Tone Plant
.Cost reductions, total loss reduced 41%
.Delivery of poor quality BM rate 1/10
.Achievement of total facility efficiency of over 90%
.Sudden stoppage of machinery 1/10
.Delivery of chronically poor quality items reduced to 0
* BM = Bench Mark

4. MITSUBA TPM Particulars
1986 TPM activities initiated (company wide)
1996, Nov. The Niisato Plant begins activities designed to achieve the TPM Award of Excellence
1998, Sep. The Niisato Plant receives the Class 1 TPM Award for Excellence
1999, Sep. The Tone Plant begins activities designed to achieve the TPM Award of Excellence
2001, Nov. The Niisato Plant receives the Class 1 TPM Award for Continued Excellence and The Tone Plant receives the Class 1 TPM Award for Excellence

5. Future Activities
With regard to the Niisato and Tone Plants, further activities and enthusiastic expansions are to be carried out in the future. Other plants and affiliated companies are to follow in our footsteps as we continue in our pursuit to improve our facilities and generate changes in the environment through the establishment of a predisposition towards strong management.



* For inquiries concerning this subject, please contact Mr Noriyoshi Tabata of the General Affairs Department, Public Relations Section
Email:koho@mitsuba.co.jp

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The Establishment of a New Company in Indonesia

We are pleased to have this opportunity to announce that, after serious considerations, we have just recently signed an agreement and are now entering into joint venture with the establishment of a new company in the Republic of Indonesia.

Details of the establishment are as follows.

October 5, 2001

1. Details
Nine Japanese and local companies, including the Mitsuba Corporation, have been participating in an alliance that has continued to provide cooperative financing for PT. KGD Indonesia Inc. Over the past few years, however, in light of the growth trends noted in the Indonesian market for two-wheeled vehicles, we have come to feel that it is now necessary to carry out a drastic increase in manufacturing and an enhancement of our ability to compete within this market. As a response to this movement, the MITSUBA Corporation has given serious consideration to the establishment of a manufacturing and sales base establish in this country.

2. New Company

(1)

Company Name: PT. MITSUBA Indonesia

(2)

Location: JL SILIWANGI-DESA KERONCONG KEC .JATIUWUNG, P.O. BOX 110/TNG TANGERANG-JAWA BARAT INDONESIA
(This location is within the grounds of the current KDG.)

(3)

Established: November 2001

(4)

Capital investment: US $4,000,000

(5)

Joint Venture Participants and Financing
.MITSUBA Corporation 70%
.ASIAN HONDA MOTOR CO., LTD (Thailand) 20%
.PT. ASTRA HONDA MOTOR (Indonesia) 5%
.PT. HONDA PROSPECT MOTOR (Indonesia) 5%

(6)

Employees: 430 (by 2003)

(7)

President: Takumi Tada, President (MITSUBA Corporation International Business dept. Adviser)

(8)

Enterprise: the manufacture and sales of electronic equipment for 2 and 4-wheel vehicles

(9)

Start up: January 2002

(10)

Customers:
ASTRA HONDA MOTOR, INDOMOBIL SUZUKI INTERNATIONAL, KAWASAKI MOTOR INDONESIA, HONDA PROSPECT MOTOR, YAMAHA INDONESIA MOTOR etc.

(11)

Sales forecast: 3,500,000,000 JPY (by 2003)


3. Signing Ceremony
The joint venture agreement was signed in Indonesia on October 2, 2001

*An outline of KGD Indonesia
*Company Name: PT. KGD INDONESIA INC.
.Established: 1979
.Financing: HONDA MOTOR CO., Ltd., PT.ASTRA HONDA MOTOR, STANLEY ELECTRIC CO., LTD., NIPPON SEIKI CO., LTD., HONDA LOCK MFG. CO.,LTD, TOYO DENSO CO,.LTD., MITSUBA CORPORATION, INDOMOBIL SUZUKI INTERNATIONAL, PT. PROSPECT MOTOR
.Location: JL. SILIWANGI-DESA KERONCONG KEC. JATIUWUNG P.O. BOX 110/TNG TANGERANG-JAWA BARAT INDONESIA
.Representative: Mitsuaki Haba, president
.Capital Investment: US $6,000,000
.Employees: 1,200
.Sales volume: 7,000,000,000 JPY

* For inquiries concerning this subject, please contact Mr Noriyoshi Tabata of the General Affairs Department, Public Relations Section
Email:koho@mitsuba.co.jp

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Runner-up in This Year's E.V. Ecorun in SUGO!

Unable to repeat last year's victory in this year's E.V. Ecorun in SUGO, the MITSUBA Team still was able to achieve a respectable 2nd place finish in this race that was held on August 25 and 26 in Murata-machi, Miyagi Prefecture.

Details of the race are as follows:

October 5, 2001

1. The Contest

Name:

2001E.V. Ecorun in SUGO

Sponsor:

Tohoku Electric Automobile Discussion Gathering

Date:

August 25, 26

Venue:

Sportsland SUGO, Sugo Murata-machi, Shibata-gun, Miyagi Prefecture

Objectives:

To encourage citizens to develop an interest in the environmental problems and energy problems that confront us today through close contact with the non-polluting and energy-saving characteristics of electric cars.

Competition:

One-person electric cars were outfitted with four 12V•7.2Ah equal condition batteries distributed by the Ecorun Headquarters. The cars compete for total distance achieved in a 2-hour trial as well as a command of technology and the effective use of battery energy over a 3.7 km closed course with the steepest ascending slope of 8.4% and descending slope of 10%, and with an overall fluctuation differential of 70 m.

Competitors:

Open Class (27 cars, incl. MITSUBA), Junior Class (17)

2. Race Results

1st place, Honda Engineering•EVER, 70.391 km (19 laps)
2nd place, Team "Yoishoto!" Mitsuba, 66.687 km (18 laps)
3rd place, Tohoku University, Saito Lab, 51.870 km (14 laps)

3. The MITSUBA Team

Team Name:

Team "Yoishoto!" Mitsuba (composed of company employees)

Members:

11 (led by Kimura Masakatsu)

*Entry Car:

1 car (USO 800)

* Length:

284 cm, width: 79 cm, (body width: 40cm.) height: 55 cm, weight: 22.5 kg,

* frame:

ROHACELL + carbon fiber monocock, with three wheels

* Loaded with an original "in-wheel D-D" (direct drive motor)

4. Comments from MITSUBA

This was the final race of the season and, since our team was victorious in this race last year, everyone was anticipating another victory.
However, the victors in this year's race ran the whole race at an exceptionally high pace and our team was simply unable to catch up with them in the allotted time. This resulted in a respectable 2nd place finish and it should be noted that we were able to beat our own record set in last year's victory and both the 1st and 2nd place team were credited with having rewritten the record books.
While it is unfortunate that our Team "Yoishoto!" Mitsuba was unable to take home the gold medal this year, we were all quite pleased with the way our "in-wheel D-D" climbed the steepest hills on the Sugo circuit with ease, and our own record of completing 18 laps is quite a satisfying achievement. We're ready now to set our sights on next year's race and recapturing the winner's cup.


* For inquiries concerning this subject, please contact Mr Noriyoshi Tabata of the General Affairs Department, Public Relations Section
Email:koho@mitsuba.co.jp

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Victory in EV Eco-Run race!

It gives us great pleasure to announce that the MITSUBA Team won first place in the Open Class of the "2001 WEM (World Econo Move) in Tsukuba" held at the Tsukuba Circuit on Sunday, August 19.

Details of the race are as follows:

August 22, 2001

1. The Contest

Name:

2001 WEM (World Econo Move) in Tsukuba (held for the first time this year)

Promoters:

J.A.S.C. Foundation (Japan Auto Sports Center) / J.C.C.A. (Japan Classic Car Association)

Supporters:

World Econo Move Executive Committee / Japan Electric Vehicle Club / Electric Car Research Group / Shikoku EV Challenge 2000 Executive Committee

Venue:

Tsukuba Circuit, Ibaraki Prefecture

Races:

At the European Car Festival "2001 European Challenge in Tsukuba" , races were held for sports racing cars and formula cars as well as the EV Car Race, the third annual race of its kind, and the first to be held at the Tsukuba Circuit.

Competition:

Batteries distributed by the Eco-Run Headquarters were used in vehicles that were competing for total distance (in kilometers) covered on the circuit within a 2-hour time limit.

Competitors:

Open Class (15 vehicles, incl. MITSUBA), Junior Class(7 vehicles)

2. Race Results

*Open Class

1st place:

USO800 (MITSUBA), distance 80.729 km

2nd place:

Golden Eagle 99 (Kanazawa Institute of Technology), 79.840 km

3rd place:

Hybrid Racer II (E.P.A), 69.824 km

3. The MITSUBA Team

.

Team Name:

Team "Yoishoto!" Mitsuba (composed of company employees)

.

Members:

10 (led by Kimura Masakatsu)

.

Vehicle name:

*

USO 800

*

The Car:

Length: 284 cm, width: 79 cm, (body width: 40cm.) height: 55 cm, weight: 22.5 kg, frame: ROHACELL + carbon fiber monocock, with three wheels.

*

Loaded with an original "in-wheel DD motor" (direct drive motor)

4. Comments from MITSUBA regarding the race

While it did seem to take some time for our team to grasp an appropriate pace for its first race ever on this course, the time paid off and Team "Yoishoto!" Mitsuba was able win the Open Class championship.
Both the Open Class and the Junior Class races were held simultaneously on the same circuit. An hour after the race had begun, the 3 cars in the lead were those of the Kanazawa Institute of Technology (Open Class, the Kihoku Technical High School (Junior Class) and our own team. Near the end of the race, our team was vying for the lead with the Kihoku team. While our team ended up losing to the talented young Junior Class victors, we were still able to take first place in the Open Class.
Both the Kihoku Technical High School car and the Kanazawa Institute of Technology car were outfitted with MITSUBA DD motors. In effect, the DD motors seemed to have had a corner on the market since they powered the top three finishers in the race.
Since this was the first time for the Team "Yoishoto!" Mitsuba drivers to experience this course, it was not all that easy to get a grasp of the various load factors and adjust their driving techniques along the circuit. Yet, while some claimed that the DD motor would be at a disadvantage under such circumstances, the results proved this point of view to be totally mistaken, much to our own delight!
The Team "Yoishoto!" Mitsuba will be participating in the "E.V. Ecorun in Sugo" to be held next Saturday, August 25 and Sunday, August 26. We are all anticipating a repeat of last year's victory in this race.


* For inquiries concerning this subject, please contact Mr Noriyoshi Tabata of the General Affairs Department, Public Relations Section
Email:koho@mitsuba.co.jp

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The Establishment of a New Company in the Philippines

We would like to take this opportunity to announce the establishment of a new company in the Philippines. This company is the second MITSUBA company that country.

Details of the establishment are as follows.

August 10, 2001

1. Details

In light of the fact that our previously established company, the MITSUBA Philippines Corporation (MPC) is rapidly approaching its maximum production capacity, and since in response to the rapidly expanding Asian market, MITSUBA decided to establish a second base for manufacturing within the Philippines.

2. New Company

(1)

Company Name: MITSUBA Manufacturing Philippines Corporation

(2)

Location: First Cavite Industrial Estate, Dasmarinas, Cavite, Philippines (This is the same location as MPC)

(3)

Established: August 2001

(4)

Capital investment: US $3,000,000 (1/3 from the MITSUBA Corporation, 2/3 from MPC)

(5)

Employees: 33

(6)

Company Representative: Takashi Nara, President (same as MPC)

(7)

Products manufactured: The manufacturing of pressed processing components, plastic molding components, cutting and shaping components, horn assemblies, dies, jigs, and maintenance

(8)

Customers:
MITSUBA Corporation, and other overseas affiliates

(9)

Start up: Manufacturing to begin in March 2002

(10)

Sales forecast: US $5,000,000 (by 2004)

(11)

Investment plans: approx. US $5,700,000


* For inquiries concerning this subject, please contact Mr Noriyoshi Tabata of the General Affairs Department, Public Relations Section
Email:koho@mitsuba.co.jp

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The Introduction of a New Personnel System

We would like to take this opportunity to announce the introduction of a new personnel system within the MITSUBA Corporation. In light of the expanding globalization in our surrounding environment, and as a means of achieving a revitalization among our employees and, specifically, among our staff of skilled professionals, we are anticipating a substantial response to the changes brought on in this new age through the introduction of this new personnel system.

Details of the system are as follows.

July 9, 2001

1.

Re the Circumstances Dealing with the Introduction of a New Personnel System
CI was introduced into the MITSUBA Corporation in 1996. At that time, in an effort to improve our corporation, amendments were initiated with regard to the current system of personnel affairs. These amendments were based upon the results of employee surveys and various suggestions received from our employees in light of the process of introducing CI into our corporation.
In April 1999, our 5th Mid-Term Management Plan was initiated. This served as the start of the implementation of our basic plans for a new personnel system. In July 2000, we were able to complete the outline for our new personnel system.

2.

The Aims of our New Personnel System
Up until this time, our personnel matters were deeply tainted by the shades of a seniority system that employed a "Job Evaluation Qualification System" , and we began to feel that these kinds of systems suffered from many functional limitations in light of the future needs of the corporation and our employees. Through the introduction of a new personnel system, we felt that this would stimulate the spirit of challenge and creativity among our employees and, at the same time, it would promote personal growth. Therefore, we adopted as our aim plans that would encourage both the revitalization of the organizational features and the elevation of our overall capacity for solving problems. We believed that this would contribute to the continuing development of our corporate independence and the future of our corporation.

3.

Fundamental Ideas

1)

The Policies of Personnel Affairs
"Mitsuba will bring out the best in its associates, as its associates bring out the best in Mitsuba". This is one of our corporation management policies that serve as a fundamental policy behind our new personnel system. It also leads us on to the next policy: "By utilizing the full capacity of each and every employee, it is possible to create a corporate culture filled with volition and creativity through the realization of the individual".

2)

Three Fundamental Rules
The following are the basic rules that we have determined should govern our new personnel system:
(1) The rule of fairness
(2) The rule of communication
(3) The rule of personal responsibility

4.

The Content of the New System
The supporting structure of our new personnel system employs a new "Qualifications System" based upon a cycle of individual systems of "Evaluation", "Remuneration" and "Ability Development" that make significant contributions to the management of our corporation.

1)

Qualifications System
The "One-Line Ability Qualification System" employed in the past has been replaced by a duties (tasks) standard based upon an "Individual Task Group Multiple-Line Personnel System" that binds duties (tasks) of a similar quality into fixed ranges. In effect, this means that employees are to be graded and treated accordingly within an organized work ranking system instead of simply by "task group" and "ranking". Previously, ratings that were based upon an all-company uniform 12-step job evaluation qualification are now to be based upon a system employing 9 task groups as well as individual task groups that are to be ranked on a scale from1 to 6.

2)

Evaluation System
From the consideration of standards based upon ability from the past, we can now carry out evaluations of results, processes and competency that have been incorporated to create a comprehensive behavior evaluation. We can utilize a system that takes into account improvements in the objective management system of the past was well as fairness and a high level of satisfaction. Namely, every half a year we receive reports, prepared by the employees themselves, dealing with their achievements. Individual interviews are carried out and evaluation feedback is provided. This leaves us with something more than simply the results of an evaluation. As a system that clearly evaluates the processes and behavior that leads to results, it also arouses among our employees the volition to meet challenges as it elevates their level of satisfaction.

3)

Remuneration System
As we restrain the influences of the seniority system, there is a change towards the formula of "job rank" = "remuneration". Disparities with regard to the kind of work performed on the job can be linked up with remunerations; a link which, in turn, serves to elevate fairness, levels of satisfaction and transparency. The composition of any worker's basic wage becomes, in effect, a concept of his/her "employee pay" based upon an awareness of the livelihood curve and a job-based "work pay".
Under the bonus system, plans can be carried out for work achievement operations. We are considering a system that would elevate the volition of the employees to participate in management through stable monthly payments, on the one hand, and payment by installment, allotments that are subject to change and that respond to employee achievements that are related to resulting corporate achievements on the other.
We are also considering a retirement allowance system based upon a point system in which the employee would be allotted points for the level of the contributions to the corporation he has made during his employment, above and beyond an impartial system in which retirement benefits are based solely upon job evaluation qualifications and continuous length of service to the corporation.
It is our intention to elevate the fairness of these systems of distribution as high as we possibly can.

4)

Ability Development System
It is our intention to change from the nurturing of a large volume of personnel who possess ability based upon impartial standards to employees who can learn and grow through the possession of a fundamental self-responsibility that comes from within the employee himself. Namely, we seek to clarify the self-responsibility of the employee himself and the responsibility that is fostered upon him by the corporation.
From the point of view of our vision of ability development, we seek to have "each and every employee become a professional". We believe that we can develop an understanding of the early nurturing of an employee by determining his ability development objectives during interviews in which we discuss the employee's voluntary approach towards challenges and the needs of the organization by which he can develop his career.

5)

Other
By initiating amendments in our welfare facilities system, from our current impartial system, we are now considering a cafeteria plan that will respond to the lifestyles of our employees and provide necessary support for their well-being.

5.

Schedule
The new system (including the above qualifications, evaluations and ability development systems) is to be initiated in a step-by-step basis from the latter half of FY 2001. Full-scale enforcement of this system (all systems) is to take place from the beginning of FY 2002.

6.

Future Plans
One part of the system includes certain particulars that need to further clarified and defined. This will be carried out in order to construct their content.


* For inquiries concerning this subject, please contact Mr Noriyoshi Tabata of the General Affairs Department, Public Relations Section
Email:koho@mitsuba.co.jp

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A Valiant Effort in the EV Eco- Run

The 2001 WEM (World Econo Move) competitions were held in Ogata Village, Akita Prefecture on Friday, May 4, and Saturday, May 5. In a valiant effort by our company team led to a fourth place finish. Also, we are pleased to report that the winning vehicle was equipped with the MITSUBA DD motor. We feel that our company made some outstanding contributions to this year's race.

Details of the race are as follows.

May 9, 2001

1. The Contest

.

Name: 2001 WEM (World Econo Move) [7th year]

.

Promoters: World Econo Move, Executive Committee, CAR GRAPHIC Magazine, AAB (Akita Asahi Broadcasting), Energy Promotion Club Japan

.

Venue: Solar Sports Line, Ogata Village, Akita Prefecture

.

Objectives:

(1)The pursuit of effective energy utilization
(2)Promotion & discovery of future engineers

.

Competition:Drivers were to compete for total distance driven over a flat course within a two-hour limit using the 4 batteries (small lead accumulators) provided by the race headquarters.

.

Competitors:53 cars, including our company's car, competed in the Open Class. 31 cars competed in the Junior Class.

2. Race Results

.

1st place:Team Super Energy (Fuji Heavy Industries), 76,598.29 m (12 laps)

.

2nd place:Honda Engineering EVER-1 (Honda Motor Co., Ltd.), 75,383.85 m (12 laps)

.

3rd place:Nakayoshi ZDP, 74,788.50 m (12 laps)

.

4th place:Team "oishotto" Mitsuba, 74,306.60 m (12 laps)

.

5th place:Wakayama Prefectural Industrial High School, 74,079.43 m (12laps)

All of the first 5 finishers set new race and world records.
Also, the first place and fifth place finishers were equipped with MITSUBA DD motors.

3. An Outline of the MITSUBA Team

. The team
Team "Yoishoto!" Mitsuba (composed of a group of MITSUBA employees. There are 9 members on the team led by Kimura Masakatsu.)
. The car
Length: 284 cm, width: 79 cm (body width: 40cm), height: 55 cm, weight: 16 kg, frame: ROHACELL + carbon fiber monocock, with three wheels
Motor: A 12V, 60W motor with a peak efficiency of 87%, with in-wheel D-D
Motor driver: Controlled current, approx. 30mA, control system: PWM, CPU controlled electronic advancement angle

4. Comments from MITSUBA

While our team won this race last year, in spite of setting a new race record, Team "Yoishoto!" Mitsuba ended up with a 4th place finish. In this year's race our team' s drive system (DD motor & controller & supplementary equipment) was sold to 9 of the other competitors and support was provided. While we were unable to capture our third straight title, we were still able to enjoy the separate satisfaction of knowing that the winning car and many other top-finishing cars were relying on our team's products. The top three participants in the Junior Class all carried our Team Mitsuba DD motors.
This year's race was extremely competitive with the top five finishers erasing the previous records. We are anticipating an equally competitive race next time as well, and we are looking forward to finishing in first place.

For further details about these races, please refer to the WEM Official Web Site at;
http://www.ogata.or.jp/spoline/wem/index.htm
You can enjoy the Team "Yoishoto!" MITSUBA Web Site at:
http://www.sunfield.ne.jp/~minaba/ecorun/index.html


* For inquiries concerning this subject, please contact Mr Noriyoshi Tabata of the General Affairs Department, Public Relations Section
Email:koho@mitsuba.co.jp

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MITSUBA Concludes Overseas Licensing Agreement

The MITSUBA Corporation is pleased to announce the signing of a licensing agreement in India with the Varroc Engineering Private Limited. The agreement covers ACG for two-wheeled vehicles.

The following is an outline of the events leading up to this agreement.

April 16, 2001

1. Details

This agreement was concluded in light of anticipation of growth in the two-wheeled vehicle market in India.

2. Contents of the agreement

The manufacturing and sales of parts for two-wheeled vehicles

.

Period of the contract : 5 years

.

Operations: planned to commence in October, 2002

3. Signing Ceremony

.

date : Monday, April 16, 2001

.

place : MITSUBA Head Office
2681,1-Chome, Hirosawa-Cho, Kiryu City, Gumma Pref.

.

participants in the signing:
Naresh Chandra, chairman, Varroc Engineering Private Limited Tarang Jain, president, Varroc Engineering Private Limited
Noboru Hino, president, MITSUBA Corporation
Mitsuyoshi Komoriya, vice president, MITSUBA Corporation
directors and other related parties

4. Outline of Varroc Engineering Private Limited

.

location: Aurangabad, India (280 km northeast of Mumbai)

.

employees: approx. 150

.

representative: Naresh Chandra, chairman

.

capital: 8,000,000JPY

.

business volume: 1,800,000,000 JPY/ year

.

business activities: manufacturing of plastic parts, ACG, starter motors, seats for two-wheeled vehicles, die-cast products, engine valves, etc.

.

major customers: BAJAJ, AUTO CO.


* For inquiries concerning this subject, please contact Mr Noriyoshi Tabata of the General Affairs Department, Public Relations Section
Email:koho@mitsuba.co.jp

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The establishment of a new company in Hungary

With regard the MITSUBA Corporation plans to establish automotive components production foothold in Europe, it was decided to establish a new company in Hungary. We are now pleased to announce that this new company has just been established.

The following is an outline of the events leading up to this establishment.

March 28, 2001

1. Details

In order to develop and enlarge our business efforts in the Four-Base System of the world, we have established 2-wheel vehicle components production base and a sales base for automotive components and these projects are now beginning to unfold. We have just recently opened a new automotive components production base.

2. New Company

(1)

Company name: MITSUBA AUTOMOTIVE SYSTEM OF EUROPE Kft.

(2)

Location: The Shalgotarian Municipal Industrial Complex (approx. 90 min. northeast of Budapest by car)

(3)

Established: April 30

(4)

Capital investment: US $6,000,000 (MITSUBA 50%, Mitsuba Europe Ltd. 50%)

(5)

Employees: 240

(6)

Officer: Mitsuyoshi Komoriya, (vice president of the MITSUBA Corporation)

(7)

Business: the manufacturing and sales of components, and parts, for automobiles

(8)

Major customers: European automobile manufactures and components manufacturers

(9)

Start up: manufacturing to begin in April, 2002

(10)

Sales forecast: US $60,000,000 (by 2004)

(11)

Investment plans: approx. US $10,000,000


* For inquiries concerning this subject, please contact Mr Noriyoshi Tabata of the General Affairs Department, Public Relations Section
Email:koho@mitsuba.co.jp

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The establishment of a new company in India

After entering into a joint venture agreement on November 28, 2000, the MITSUBA Corporation began to carry out the formalities necessary to establish a new company in India. While there were some delays with regard to these formalities, we are now pleased to announce that this new company has just been established.

The following is an outline of the events leading up to this establishment.

March 27, 2001

1. Company name

MITSUBA SICAL INDIA LIMITED

2. Established

March 27, 2001
Capital investment: 60,000,000 INR (150,000,000 JPY)
Investment rate: MITSUBA 60%, SICAL 40%
*SICAL, the joint investment partner, is an abbreviation for South India Corporation (Agencies) Ltd.

3. Other

(1)

The company was established in the suburbs of the city of Chennai.

(2)

Employees: 150

(3)

President; Toshiaki Kobayashi

(4)

Products manufactured:
wiper motors, links, fan motors, washer pumps and tanks

(5)

Major customers: MULTI-SUZUKI, HONDA, TELCO, MAHINDRA, etc.

(6)

Sales forecast: 550,000,000 JPY (by March 31, 2002)


* For further information about the signing of the joint venture agreement, see our news release of November 29, 2000.

* For inquiries concerning this subject, please contact Mr Noriyoshi Tabata of the General Affairs Department, Public Relations Section
Email:koho@mitsuba.co.jp

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Quality System Requirements QS-9000 Certification for All Sites

The MITSUBA Corporation would like to take this opportunity to announce that all of our sites have been certified this month as having passed the rigid QS-9000 requirements standards. Certification for the Akagi site is for areas of further expansion while the remaining 4 sites were certified for the first time for the major products produced at each site.

The following is an outline of the events leading up to this certification.

March 13, 2001

1.

Range of the certification inspection:

The range of the certification inspection categories includes designs, manufacturing and incidental services as noted below.
Akagi Site
EPS sensor units (as well as interlock control units and ETC motor Certification for them was completed last year.)
Kiryu Site
Power window motors, wiper motors
Niisato Site
Small EPS motors
Onishi Site
Window washer motors
Tone Site
Rear window wiper motors, roof motors

2.

Inspection Certification Authority

JQA: Japan Quality Assurance Organization

3.

A History of MITSUBA QS-9000 Certification Activities and Progress

Apr.

2000

Activities initiated at whole site

Aug.

2000

New systems activities initiated

Sep.

2000

Preparatory investigations carried out

Dec.

2000

Final investigations carried out

Mar.

9 ,

2001

Certification

4.

Future Developments

In order for MITSUBA to be able to provide further improvements in customer satisfaction, we will strive to develop ever more substantial quality control systems in the future.


* For inquiries concerning this subject, please contact Mr Noriyoshi Tabata of the General Affairs Department, Public Relations Section
Email:koho@mitsuba.co.jp

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ISO14001 certification

The MITSUBA Corporation strives for a continuous symbiosis with our natural environment through the development of technology that leads to harmony between our society and the environment. Among our activities that have been designed to help maintain the abundance and peace of mind of our environment is our pursuit of the ISO14001 certification for our environmental management systems in our facilities. We are pleased to announce that with the certification of our Akagi site, all 5 of our strategic sites have now been recognized as facilities that strive for environmental preservation.

The following is an outline of the events leading up to this certification.

February 27, 2001

1.

Objective range of the certification
Akagi site
(location : 1106, Omama, Omama-Machi, Yamada-Gun, Gunma Pref. , Japan)

2.

Objective range of the certification investigation
The environmental management system operated for the sake of managing environmental influence generated by the manufacturing of electric parts for automobiles (auto cruise actuators, interlock controls, door lock controls, auto cruise control units) as well as linear actuators, linear actuator controls, etc.

3.

Certification Authority and Investigative Recording Authority
SGY Yardsley (Great Britain) ********UKAS (United Kingdom Accreditation Service)
SGS Japan, Inc. ********JAB (The Japan Accreditation Board for Confromity Assessment)

4.

A History of MITSUBA ISO14001 Certification Activities and Progress with regard to the Akagi Site

Jul.

1998

ISO14001 certification acquisition at the Kiryu Site

Jun.

1999

ISO14001 certification acquisition at the Tone Site

Nov.

1999

ISO14001 certification acquisition at the Onishi Site

Dec.

1999

Activities initiated at the Akagi Site

Aug.

2000

Preparatory investigation carried out at the Akagi Site

Aug.

2000

ISO14001 certification acquisition at the Niisato Site

Dec.

25,

2000

ISO14001(JAB) certification acquisition at the Akagi Site

Feb.

5,

2001

ISO14001(UKAS) certification acquisition at the Akagi Site

Feb.

29,

2001

ISO14001 Certification acquisition at the Akagi Site

5.

Future Developments
Progress is currently being made in arranging for ISO14001 certification acquisition at our Head Office Management Division by the end of the year 2001. Activities are also being carried out for ISO14001 certification at our affiliated companies as well.


* For inquiries concerning this subject, please contact Mr Noriyoshi Tabata of the General Affairs Department, Public Relations Section
Email:koho@mitsuba.co.jp

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