News Release


June 8, 2001
Tokai Rika Establishes Production and Sales
in Brazil
Aichi, Japan, June 8, 2001 - Tokai Rika Co., Ltd., a technology-focused supplier of automobile components, today announced that it will establish a wholly-owned subsidiary in Brazil, TRBR Industria e Comercio Ltda.(TRBR), to produce and market a variety of electronic switches for automobiles. To be incorporated in July with capital of R$1.5 million (reais) or Yen90 million, TRBR is slated to start operations in April, 2002, to serve a growing demand that is primarily from the Brazilian operations of Japanese, U.S., and European automobile manufacturers. The timely decision to establish a new subsidiary in Brazil gives Tokai Rika an opportunity to strengthen its supply network in the Americas, and it also greatly increases the company's ability to service globally operating automakers.

Based in Pindamonhangaba in the state of San Paulo, TRBR will employ about 10 people in its initial startup with a future sales target of R$3 million (Yen170 million) in 2002. The subsidiary will expand to employ 30 and aim to achieve sales of R$10 million (Yen590 million) in 2005. Tokai Rika is investing R$1.5 million (Yen90 million) to equip TRBR's production facility.


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