Bel Owns 5.0% of Toko, Inc. Shares
July 13, 2006
JERSEY CITY, New Jersey, July 13, 2006 . . . BEL FUSE INC. (NASDAQ:BELFA) & (NASDAQ:BELFB) today announced that Bel's 100% subsidiary Bel Ventures Inc. has acquired 4,900,000 shares of stock of Toko, Inc. (TSE: 6801), corresponding to 5.0% of Toko's total outstanding shares, and that Bel therefore has submitted the legally required substantial share holdings report to the Kanto Local Finance Bureau.
The acquisition of Toko stock was conducted through market purchases. Bel has presented to Toko's management ways to combine the respective strengths of the two companies. These conversations commenced approximately six months ago, after Bel acquired over 4% of Toko's outstanding stock.
Bel is hopeful that the two companies will resume their discussions to determine how best to maximize shareholder value for both companies. Bel will review its various strategic options before it determines how best to move forward.
About Toko
Toko (6801 JP; head office, Tokyo) (www.toko.co.jp/top/en) develops, manufactures and sells power supply‑related and high frequency components applied in diverse areas such as information communications equipment, audiovisual equipment, flat panel displays, digital cameras, PCs, and mobile phones. Toko's products include voltage regulators, choke coils, inductors, inverters and converters, white LED drivers, LC and other filters interface modules, and wireless LAN modules.
About Bel
Bel (www.belfuse.com) and its subsidiaries are primarily engaged in the design, manufacture and sale of products used in networking, telecommunications, high speed data transmission, and consumer electronics. Products include magnetics (discrete components, power transformers and MagJack®s), modules (DC-DC converters, integrated analog front end modules and custom designs), circuit protection (miniature, micro and surface mount fuses) and interconnect devices (passive jacks, plugs and cable assemblies). Bel operates facilities around the world.
Forward-Looking Statements
Except for historical information contained in this news release, the matters discussed (including the statements regarding the Company's potential future discussions with Toko and strategic options) are forward looking statements that involve risks and uncertainties, including risks associated with the regulatory and trade environment; uncertainties associated with legal proceedings; difficulties associated with predicting Toko's responses to the Company's proposals; and the risk factors detailed from time to time in the Company's SEC reports. In light of the risks and uncertainties, actual results could differ materially from our forward‑looking statements. We undertake no obligation to update or revise any forward‑looking statements.
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Bel Fuse Inc.
206 Van Vorst Street
Jersey City, NJ 07302
tel 201.432.0463
fax 201.432.9542
Investor Contact:
Neil Berkman Associates
(310) 277-5162
Company Contact:
Daniel Bernstein
President