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) 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]
External links
References
- 会社概要 retrieved March 31, 2017^
- ＜ＮＥＣトーキン＞米企業の完全子会社に Kahoku Shimpō, February 25, 2017, retrieved March 31, 2017^
- Diane Bartz. NEC Tokin settles price-fixing charges in U.S. Reuters, September 2, 2015, retrieved March 31, 2017^
- Spencer Chin. KEMET Acquires NEC TOKIN to Bolster Component Business Electronics 360, February 24, 2017, retrieved March 31, 2017^