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November 1st, 2011
YAMAZEN CORPORATION
Citizen Machinery Miyano Co., Ltd.
Establishment of a Joint Company
for Machine Tool Business
- To strengthen sales in the ASEAN market -
Yamazen Corporation (Head Quarters: Nishi-ku, Osaka city, President & CEO: Toru Yoshii, hereafter Yamazen) and Citizen Machinery Miyano Co., Ltd. (Head Quarters: Miyota-machi, Kitasaku-gun, Nagano pref., President: Kenji Sugimoto, hereafter Citizen) will establish a new company "CINCOM MIYANO ASIA SALES CO., LTD." that controls sales, service and engineering functions of the Cincom, Miyano and Ocean Cincom brands' products in the ASEAN market of which further market expansion is expected.

Yamazen, as an agent of Citizen in the ASEAN region from 25 years ago, has been expanding sales and service of Cincom products. In accordance with the birth of Citizen Machinery Miyano in this April, it added Miyano and Ocean Cincom brands' products to have synergy effect for further sales expansion of each product family. Moreover, by establishing a new company, the engineering function of "Citizen Machinery Asia", Citizen's overseas subsidiary in Thailand and the sales and service functions of Yamazen have been fused so speed and accuracy of information transmission from both maker and user sides will be improved and the base of total-solution-type sales operation, such as propose applications and response to customer needs besides product sales will be strengthen. Thus, it is expected that existing customers' customer satisfaction will be increased as well as succeeding in having new customers.

The new company controls Yamazen's local subsidiary in 7 countries (Singapore, Malaysia, Indonesia, Thai, Philippines, Vietnam and India) and conducts various business activities aiming at 5 billion yen in terms of sales in FY2013.

Corporate Outline

Name CINCOM MIYANO ASIA SALES CO.,LTD.
Address 1230 and 1230/1 Rama 9 Road, Kwang Suanluang, Khet Suanuang, Bangkok 10250.Thailand (c/o Yamazen Thai Headquarters)
Capital 40 million baht (About 100 million yen)
Shareholding ratio Yamazen 51%
(Yamazen Thailand 50% Yamazen (Thai) Engineering 1%)
Citizen 49%
(Citizen Machinery Asia 49%)
President Yoshihiko Fukuda (current General Manager, ASEAN Machinery, Yamazen Corporation)
Number of employees 15 people
Established January 1, 2012 (scheduled date)
Main business activities Sales and service of Cincom, Miyano and Ocean Cincom products.