Shanghai Facility

LECIP Corporation, of Motosu City, Gifu Prefecture, Japan, has established in China the LECIP Shanghai Co., Ltd., a corporation overseeing the consignment of production, in the Min Hang district of Shanghai City, China.

The first product selected for the commencement of operations will be the transformer for use in forklift battery recharger units, managing and overseeing their production at the site chosen.

LECIP has concluded a consignment production agreement with a regional electric company that will go into effect starting in April of this year.

Background
Until this point, transformers used in recharger devices for battery-driven forklifts has been carried out in Thailand, at the Thailand LECIP Corporation, a wholly-owned affiliate that began operations in 1987. However product planning has shown that the price competitiveness of these units ought to be raised, and led to the choice to implement production in China, where production is possible with further savings in production costs.

Overview of Company
Corporate Name	LECIP SHANGHAI, CO., LTD.
Address	Minggyoh District, Shanghai, China
Capital	$200,000 US
Officers	Senior Director and Chief Operating Officer	Masanori Kanetake	LECIP Corporation Special Executive Officer
	Director	Takashi Miura	LECIP Corporation Executive Director
	Director	Kazuhiro Shohji	LECIP Corporation Executive Director
	Director	Fumio Ohshima	LECIP Corporation Special Executive Officer
Operations	Production of various types of transformers, related devices, and their sale under the arrangements of consigned production.

LECIP plans to gradually expand the range of units produced in this region and aim for further gains in establishing competitive product prices and boosting the market share we currently hold.