Nichiyu forklifts manufacturer Nippon Yusoki Co Ltd will wind up its wholly-owned sales and maintenance subsidiary, Hamamatsu Nichiyu, in the Shizuoka prefecture, by the end of March.
The move, reported by the Japanese News Digest, was aimed at strengthening Nippon Yusoki's management operations. Hamamatsu Nichiyu, based in Hamamatsu, was established in 2001.
Nippon Yusoki's subsidiary Nichiyu Shizuoka, headquartered in Numazu, would take over the operations of Hamamatsu Nichiyu.
Nippon Yusoki also plans to establish a marketing subsidiary in Shanghai, China, in March. It will be the third Nippon Yusoki subsidiary in China.