News Sep. 15, 2023
Hioki Enters into Purchase Agreement for Land and Building in the Kawanishi District of Ueda to Bolster Production Capacity
Hioki is pleased to announce that on August 23, 2023, it entered into an agreement with Daiwa House Industry Co., Ltd., to purchase land and a building in the Kawanishi district of the city of Ueda.
Some production processes currently located at the Head Office Factory will be transferred to the new property. In making this purchase, Hioki is looking to secure sufficient space for production so that it can boost capacity. The close proximity of the listing, which is situated about 2 kilometers from the Head Office Factory, was a factor in the decision to purchase the property. Hioki plans to start operations around March 2024 following renovations and other modifications to the building so that it can accommodate the companyʼ s production structures. The building will be Hiokiʼ s third manufacturing facility, after the Head Office Factory (located in the city of Ueda) and the Sakaki Factory (located in the town of Sakaki).
As Hioki works to realize Vision 2030, its long-term management policy, the company will seek to strengthen production and service structures to accommodate the changing global market so that it can supply customers with high-quality products in a more timely manner.
Overview of the land and building to be acquired
|Property address||886-1 Nikoda, Ueda-shi, Nagano Prefecture|
|Businesses||Development, manufacture, sale, and service of electrical measuring instruments|
|Purpose of purchase||To bolster production capacity by expanding the production floor and to secure warehouse space|
|Land area / Building type and total floor space||10,874 m2 / 3-story steel-construction building with 4,901 m2 of floor space|
|Tentative schedule||・August 2023: Entry into purchase agreement with current owner (Daiwa House Industry Co., Ltd.)
・September 2023 to March 2024: Execution of legal compliance and building improvement work, followed by initiation of some factory operations alongside ongoing renovations
・June 2024: Completion of acquisition of land and building from Daiwa House Industry (transfer of ownership of land and building)
Established in 1935, HIOKI E.E. CORPORATION (TSE: 6866) has grown to become a world leader in providing consistent delivery of test and measuring instruments through advanced design, manufacturing, and sales and services. By offering over 200 main products characterized by safety and quality while meeting an expansive range of applications, we aim to contribute to the efficiency and value of our customers' work in research and development, production and electrical maintenance. Hioki products and services are available around the world through our extensive network of subsidiaries and distributors. For more information, visit us at www.hioki.com.