Bel Reduces Its Investment In Toko
April 20, 2007
JERSEY CITY, New Jersey, April 20, 2007 . . . Bel Fuse Inc. (NASDAQ:BELFA & NASDAQ:BELFB) announced today that it has reduced its investment in Toko Inc. (TSE: 6801; head office, Tokyo) to 1,840,919 common shares, or approximately 1.9% of the shares outstanding, from 5,874,919 shares, or 6.02%.
"Since our initial investment in Toko in 2005, it was always our desire to combine the strengths of the two companies in a mutually beneficial, friendly transaction. While we continue to believe that a friendly transaction makes sense for the shareholders of both companies, Toko management has refused to negotiate with us. If conditions change, we may reconsider how to proceed with Bel's investment in Toko," said Bel CEO Daniel Bernstein.
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, custom designs), circuit protection (miniature, micro and surface mount fuses) and interconnect devices (passive jacks, plugs and cable assemblies). The Company operates facilities around the world.
Forward-Looking Statements
Except for historical information contained in this news release, the matters discussed are forward looking statements that involve risks and uncertainties. The factors that could cause actual results to differ materially from such statements are detailed from time to time in the Company's SEC reports. In light of the risks and uncertainties, there can be no assurance that any forward-looking statement will in fact prove to be correct. 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