SWCC Showa Makes Shoko Kiki 100% Subsidiary

SWCC Showa Cable Systems made Shoko Kiki Kogyo a wholly owned subsidiary by acquiring a 40% share from Kaikou Dengyou. SWCC Showa Cable Systems is an electric and optical cable business company of SWCC Showa Holdings Group and Kaikou Dengyou is Japanese independent power cable dealer. Shoko Kiki Kogyo is a manufacturer of metal and rubber mold parts used for high voltage power cable connecting equipment. SWCC Showa Group aims to expand its power cable connecting equipment business in a medium term. By bringing Shoko Kiki Kogyo into the 100% subsidiary, the firm targets enforcement of domestic operations.

Shoko Kiki Kogyo manufactures copper, brass, aluminium and rubber molded parts for high voltage power cable connecting equipment. The plant is located in Sagamihara City, Kanagawa, Japan with about 60 employees. The annual revenue is approximately 2 billion yen. The capital is 10 million yen, previously 60% owned by SWCC Showa Cable Systems and 40% by Kaikou Dengyou. SWCC Showa Cable Systems acquired a 40% share from Kaikou Dengyou in November 2008.

SWCC Showa Group produces and sells connecting equipment for high voltage power cables, those which are called “SICONEX.” The firm aims to expand annual revenue of “SICONEX” products to 10 billion yen in a mid term from current 3-4 billion yen. SWCC Showa Group’s total consolidated net sales are estimated at 186 billion yen for a fiscal year ending March 2009.