Notice regarding business suspension of overseas subsidiaries
May 20, 2022
We would like to inform you that the business of FUTABA (Europe) GmbH, our overseas subsidiary, will be suspended as follows.
1. Reason for business suspension
Our consolidated subsidiary, FUTABA (Europe) GmbH, has continued to operate with the main business of selling electronic device-related products. However, the market continued to shrink, requiring drastic structural reforms.
Therefore, in order to rebuild the sales strategy in the European market, we decided to suspend the sales business of the company.
2. Overview of overseas subsidiaries that have been suspended
- (1)Corporate name
- Halskestrasse 9, D-47877 Willich, Germany
- (3)Name and position of representative
- Motoki Tamura (Managing Director)
- (4)Business activities
- Sales of electronic device related products
- June 3, 1979
- 511,000 EUR
- (7)Major shareholder and stockholding ratio
- Futaba Corporation 100%
Business suspension date: December 31, 2022 (planned)
From January 2023, we plan to establish a representative office to collect information on the European market, carry out advertising and promotion activities, and support sales agents.