Yageo to sell historic Tokin plant in Sendai
Yageo has sold a manufacturing plant located in Sendai, Japan belonging to its subsidiary, Tokin Corporation.
According to a filling with the Taiwanese stock exchange, Daiwa House Industry Co., purchased the real estate for JPY 9.07 billion (EUR 67.2 million).
The plant is currently engaged in R&D and the manufacturing of some magnetic materials. However, due to long-term operations – the plant has been operating since 1938 – several of the buildings and the equipment at the facility are ageing, according to information from Tokin.
And as a result of several studies having been made with the aim of ensuring safety, improving production efficiency and expanding equipment for the future, a decision was made to relocate the Sendai operations to the Shiraishi plant.
Tokin Corporation says in the update that the 220 employees working at the Sendai plant are scheduled to continue working at the Shiraishi plant. Production at the Sendai plant is scheduled to be discontinued by the end of March 2023.
The relocation of the Sendai office, where the company was founded, is a tough choice, but we will take this opportunity to make further efforts to enhance and develop our business.