Tokin Corporation

TOKIN Corporation
Native name	トーキン
Type	KK
Traded as	TYO: 6759
Industry	Electrical components
Predecessors	Japan Specialty Metals KK (日本特殊金属株式会社); Tohoku Metal Industries KK (東北金属工業株式会社); KK Tōkin (株式会社トーキン);
Founded	April 8, 1938
Headquarters	Shiroishi, Miyagi, Japan
Area served	Worldwide
Key people	William M. Lowe Jr (Chief Executive Officer); Shigenori Oyama (President/RD);
Products	Electrical and electronic parts
Net income	¥55.3 billion (2015)
Total equity	¥34.28 billion (2015)
Owners	KEMET; NEC;
Number of employees	6,445 (2015)
Website	www.tokin.com

TOKIN Corporation is a Japanese electrical and electronic industrial and automotive parts manufacturing company. Since April 2017 it has been a wholly owned subsidiary of KEMET Corporation. Previously it was named NEC TOKIN (NECトーキン株式会社, NEC Tōkin Kabushiki-gaisha) and was part of the NEC Group.[1] It is headquartered in Shiroishi, Miyagi Prefecture, Japan.[1]

In February 2013, KEMET Corporation invested in the company to provide capital for Tokin to expand its business.[2] After this investment, KEMET owned 34% of the company, and NEC owned a 66% controlling share.

In September 2015, TOKIN pleaded guilty to fixing the prices of electrolytic capacitors between 2002 and 2013 in a criminal lawsuit filed in the United States District Court for the Northern District of California by the United States Department of Justice, and was required to pay a fine of $13.8 million USD.[3]

In April 2017, KEMET purchased a 61% controlling interest, making Tokin its wholly owned subsidiary. Once the purchase was complete, the company changed its name to "TOKIN Corporation".[4]

References

"会社概要" [Company Information] (in Japanese). Archived from the original on March 31, 2017. Retrieved March 31, 2017.
"＜ＮＥＣトーキン＞米企業の完全子会社に" [NEC TOKIN to become wholly owned subsidiary of American company]. Kahoku Shimpō. February 25, 2017. Archived from the original on March 31, 2017. Retrieved March 31, 2017.
Bartz, Diane (September 2, 2015). "NEC Tokin settles price-fixing charges in U.S." Reuters. Archived from the original on March 31, 2017. Retrieved March 31, 2017.
Chin, Spencer (February 24, 2017). "KEMET Acquires NEC TOKIN to Bolster Component Business". Electronics 360. Archived from the original on March 31, 2017. Retrieved March 31, 2017.

External links

Official website

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[tokin_about-1] "会社概要" [Company Information] (in Japanese). Archived from the original on March 31, 2017. Retrieved March 31, 2017.

[kahoku_shimpo_20170225-2] "＜ＮＥＣトーキン＞米企業の完全子会社に" [NEC TOKIN to become wholly owned subsidiary of American company]. Kahoku Shimpō. February 25, 2017. Archived from the original on March 31, 2017. Retrieved March 31, 2017.

[reuters_20150902-3] Bartz, Diane (September 2, 2015). "NEC Tokin settles price-fixing charges in U.S." Reuters. Archived from the original on March 31, 2017. Retrieved March 31, 2017.

[electronics_360_20170224-4] Chin, Spencer (February 24, 2017). "KEMET Acquires NEC TOKIN to Bolster Component Business". Electronics 360. Archived from the original on March 31, 2017. Retrieved March 31, 2017.