May 27, 2009
Kuraray Interior Co., Ltd.
(The Kuraray Group)
Kuraray Interior Co., Ltd. - a member of the Kuraray Group and a wholly owned subsidiary of Kuraray, Co., Ltd. (Headquarters: Kita-ku, Osaka City) - announces that it will conclude the operation of its luxury Japanese-style Hokumin Furniture business. Consequently, manufacturing and marketing of these items will cease in September 2009.
In conjunction with the above actions, Kuraray Interior Co., Ltd. is scheduled to be liquidated.
Since being released on the market in 1966, Hokumin Furniture products have garnered favorable reviews owing to their unique texture that feature the use of Hokkaido birch wood and quality craftsmanship. However, business operations have continued to deteriorate in recent years due to market shrinkage, changing tastes among consumers and the penetration of low-cost products by competitors. Consequently, it has been determined that continuing this business would be difficult, despite continued efforts to seek ways to reform operations. Moreover, following the conclusion of manufacturing and marketing activities, repair services for customers who own Hokumin Furniture are scheduled to be provided on an ongoing basis.
|July 31, 2009||Cessation of orders|
|September 30, 2009||Cessation of manufacturing and marketing activities|
|Headquarters||1-12-39, Umeda, Kita-ku, Osaka City|
|Plant||Mikasa City, Hokkaido|
|Business activities||Furniture manufacturing and marketing|
|Investment ratio||A wholly owned by Kuraray|
|Number of employees||48|