Tokin Corporation

TOKIN Corporation
Native name
トーキン
Company typeKK
IndustryElectrical 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)
FoundedApril 8, 1938; 86 years ago (1938-04-08)
Headquarters
Shiroishi, Miyagi
,
Japan
Area served
Worldwide
ProductsElectrical and electronic parts
ParentYageo Corporation
Websitewww.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

  1. ^ a b "会社概要" [Company Information] (in Japanese). Archived from the original on December 9, 2016. Retrieved March 31, 2017.
  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 April 19, 2017. Retrieved March 31, 2017.
  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.
  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.
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