SAE Magnetics (H.K.) Ltd. and NHK Spring Co., Ltd. Announce Termination of Joint Venture in NAT Peripheral (H.K.) Co., Ltd (2024)

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02:00:00 2024-10-25 am EDT
5-day change 1st Jan Change
1,825.00 JPY -0.79% SAE Magnetics (H.K.) Ltd. and NHK Spring Co., Ltd. Announce Termination of Joint Venture in NAT Peripheral (H.K.) Co., Ltd (1) -2.95% +52.46%
Aug. 07 NHK Spring Co., Ltd. Revises Consolidated Earnings Guidance for the First Half Ending September 30, 2024 and Full Year Ending March 31, 2025 CI
Jun. 27 NHK Spring Co., Ltd Announces Voting Results CI

April 01, 2015 at 02:53 pm EDT

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TDK Corporation has announced that its Hong Kong-based HDD head manufacturing wholly owned subsidiary, SAE Magnetics (H.K.) Ltd. (hereinafter SAE) entered into an agreement with NHK Spring Co., Ltd. (hereinafter NHK) to terminate their joint venture in NAT Peripheral (H.K.) Co., Ltd. (hereinafter NAT) established in 2003, which is engaged in HDD suspension manufacturing and to transfer SAEs holding share in NAT to NHK on March 31, 2015. NAT becomes wholly owned subsidiary company of NHK by this agreement. Reason for joint venture dissolution in response to start manufacturing of HDD Suspension in China, the general support from SAE, who had company running know-how in China, had been necessary, and thus SAE had participated in the joint venture.

Now that 11 years have passed since JV establishment, it is agreed to terminate the joint venture in China, having achieved the results regarding the operational support from SAE. Other than this matter will have an insignificant impact on TDK's consolidated financial results.

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© S&P Capital IQ - 2015

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Chart NHK Spring Co., Ltd.

SAE Magnetics (H.K.) Ltd. and NHK Spring Co., Ltd. Announce Termination of Joint Venture in NAT Peripheral (H.K.) Co., Ltd (2)

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Company Profile

SAE Magnetics (H.K.) Ltd. and NHK Spring Co., Ltd. Announce Termination of Joint Venture in NAT Peripheral (H.K.) Co., Ltd (3)

NHK SPRING CO., LTD. is a Japan-based company mainly engaged in the manufacture and sale of suspension springs, seat products and automobile-related products. It has four business segments. The Suspension Springs segment manufactures and sells coil springs, board springs, stabilizers, torsion bars, stabilizer links, bellows, and stabilizer linkers. The Seating segment offers automobile seats, seat-related products, as well as interior equipment. The Precision Component segment offers suspensions for hard disk drives (HDDs), mechanism parts for HDDs, wire springs, lamella springs, probe units for liquid crystal and semiconductor checking, as well as precision processed goods. The Industrial Equipment segment manufactures and sells brazing goods, ceramic products, spring mechanism goods, piping support installations, parking systems, polyurethane products, security products, lighting apparatus and golf shafts and others.

Employees

17,739

Sector

Calendar

2024-11-12 - Q2 2024 Earnings Release

More about the company

Income Statement and Estimates

SAE Magnetics (H.K.) Ltd. and NHK Spring Co., Ltd. Announce Termination of Joint Venture in NAT Peripheral (H.K.) Co., Ltd (4)

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Ratings

Trading Rating

Investor Rating

ESG Refinitiv

C

SAE Magnetics (H.K.) Ltd. and NHK Spring Co., Ltd. Announce Termination of Joint Venture in NAT Peripheral (H.K.) Co., Ltd (5)

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Analysts' Consensus

Sell

SAE Magnetics (H.K.) Ltd. and NHK Spring Co., Ltd. Announce Termination of Joint Venture in NAT Peripheral (H.K.) Co., Ltd (6)

Buy

Mean consensus

BUY

Number of Analysts

4

Last Close Price

1,825.00JPY

Average target price

1,950.00JPY

Spread / Average Target

+6.85%

Consensus

Profit revisions

SAE Magnetics (H.K.) Ltd. and NHK Spring Co., Ltd. Announce Termination of Joint Venture in NAT Peripheral (H.K.) Co., Ltd (7)

Estimate revisions

Quarterly earnings, Rate of surprise

SAE Magnetics (H.K.) Ltd. and NHK Spring Co., Ltd. Announce Termination of Joint Venture in NAT Peripheral (H.K.) Co., Ltd (8)

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SAE Magnetics (H.K.) Ltd. and NHK Spring Co., Ltd. Announce Termination of Joint Venture in NAT Peripheral (H.K.) Co., Ltd (2024)

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