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Press Release

Announcement regarding the Postponement of New Factory Construction


Mipox Corporation (hereafter the “Company”) announced today that it had decided to postpone the construction of a new factory planned to be built in Nagasaki Prefecture.

 

1.Reasons for the Postponement of New Factory Construction

The Company has been working to prepare for the construction of the factory.  However, due to the recent rapid rise in construction-related cost in the market, the current estimated cost is expected to significantly exceed the initial budget for construction.  In addition, taking into consideration the recent changes in the economic environment, the Company decided to postpone the construction.

 

2.Future Outlook

The construction of the new factory is currently in the design stage.  The Company will determine the timing of the construction based on the market conditions in the future.  The impact on the business results for the fiscal year ending March 31, 2019 is currently under review, and the Company will disclose it promptly if there is a matter to be disclosed in the future.