MinebeaMitsumi Notice Regarding Construction of Second Plant in Cambodia and Solar Power Generation Business in Cambodia

PublishTime： 2024-06-28 Article Source：MinebeaMitsumi Official Website

MinebeaMitsumi Inc. (Head Office: Nagano Prefecture, Representative Director Chairman, CEO: Yoshihisa Kainuma, hereinafter MinebeaMitsumi) hereby announces that in order to secure land for the construction of a new plant, we have concluded a lease agreement for a new site of approximately 50 hectares (approximately 500,000 ㎡) in Krakor District, Pursat Province, Kingdom of Cambodia.

The site for this new plant is located 170 km northwest of Phnom Penh, the capital of the Kingdom of Cambodia. Partial construction of the new plant is scheduled to begin during the fiscal year ending March 2025, and we plan to partially start operating in the fiscal year ending March 2027.

MinebeaMitsumi aims to achieve carbon neutrality in 2050. As announced in our press release in December 2023, we plan to use renewable energy to supply all of the electricity required for our existing plant in Cambodia and for future plant expansion and we have signed a Memorandum of Understanding with the Cambodian Ministry of Mines and Energy to start operation of a 50MW solar power generation project in Krakor District, Pursat Province, Cambodia, in collaboration with SchneiTec, a Cambodian government-certified electric power company by the end of March 2026. At the 78th Ordinary General Meeting of Shareholders scheduled to be held on June 27, 2024, MinebeaMitsumi will make an addition of "Businesses related to the use of renewable energy such as solar power generation, and businesses related to the supply and sale of electricity, etc." to our articles of incorporation, and solar power generation is scheduled to begin by January 2026.

This will enable minebeamitsumi's Cambodian plants, including the new plant scheduled to be constructed, to use 100% renewable energy sourced from electricity generated in-house.

We decided to secure the land as we start this solar power generation project and it will be possible to actively utilize renewable energy within the Kingdom of Cambodia and to prepare for an increase in production for the products that are expected to have further market expansion along with the business expansion of the MinebeaMitsumi Group.

MinebeaMitsumi established a local subsidiary in Cambodia's Phnom Penh Special Economic Zone (PPSEZ) in 2010 as the country's first manufacturer of precision electronic components and commenced production in 2011. The MinebeaMitsumi Cambodia plant manufactures a wide range of MinebeaMitsumi products, including bearings and small motors. Since its establishment, the plant has been working to contribute to the local community by creating employment opportunities, improving the living environment of employees, and human resource development through the manufacture of a variety of electronic components.

Aiming at our corporate philosophy "To contribute to the realization of a sustainable, eco-friendly and prosperous society by providing better products, at a faster speed, in larger numbers, at a lower cost, and by smarter means," we will continue to strive to further expand the use of renewable energy and build a sustainable society.

Overview of Cambodia's Second Plant(new plant)Building Site

About the Minebea (Cambodia) Co., Ltd.

In December 2010, the MinebeaMitsumi Cambodia plant received a license to operate as the first precision motor manufacturer in Cambodia. After starting small-scale production at a rental factory in the PPSEZ on April 1, 2011, the first plant began full-scale production activities in the new premises located in the PPSEZ on December 17, 2011.

In the time following, operations commenced in a second plant in 2013 and in a third plant in December 2016, and currently produce miniature and small ball bearings, stepping motors used in OA equipment, brush DC motors for AV equipment, etc., and smart LED road lights.

Further, since 2019, we have been supporting the national team as an official partner of the Cambodian National Football Team.

About MinebeaMitsumi

MinebeaMitsumi is an INTEGRATED precision components manufacturer^* that engages in the development, manufacture, and sale of mechanical and electronic devices and components such as motors, sensors, and semiconductors, with a focus on core technologies typical of ultra-precision machining. Our products include global market leading items such as miniature and small-sized ball bearings, which enable machines to rotate smoothly, for which we hold the highest share in the world^**, and 1 cell protection ICs for lithium ion batteries. Our ultra-precision technologies are used in a wide range of fields, supporting people's lives in unseen ways, including home electronics such as air conditioners, vacuum cleaners, dryers, and gaming equipment, IT devices such as smartphones and computers, automobiles, aerospace products, and medical equipment.

* INTEGRATION means "combining" rather than "simple gathering" of the Company's proprietary technologies to evolve the "Eight Spears" of our core businesses and to create new products in various fields through the INTEGRATION of our advanced technology.

** According to MinebeaMitsumi

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