Fukushima Sewing Company Receives Support from Mitsubishi Corpor

Fukushima Sewing Company Receives Support from Mitsubishi Corporation Disaster
Relief Foundation 
Tokyo, Apr 11, 2014 - (JCN Newswire) -  Canyon Works Ltd., a sewing company
located in Iwaki City, Fukushima Prefecture in northeastern Japan, is the
latest recipient of investment support from the Mitsubishi Corporation Disaster
Relief Foundation (MCDRF). The contribution, 50 million yen in loan funds,
complements loan support already being provided by Abukuma Shinkin Bank, a
local credit union, and grants from the Fukushima prefectural government. This
support has enabled the manufacturer to open a new sewing factory today and to
resume full-scale operations in Fukushima. 
Sewing plants run by Canyon Works in the town of Namie in the Futaba district
of coastal Fukushima were forced to close following the Great East Japan
Earthquake of 2011, operating since then from temporary facilities in
neighboring Gunma prefecture. Companies from Namie that were displaced after
the disaster have faced tremendous difficulties reestablishing themselves and,
to date, only 30% have managed to restart their businesses. Notwithstanding the
challenges, Canyon Works remained committed to reestablishing itself in
Fukushima, and managed to secure a 10,000 square meter space at the Yoshima
Industrial Park in Iwaki City to build a new factory. The new facility consists
of two plants. The first will be dedicated to the production of  diving suits
and car seats, while the second will focus on the manufacture of outdoor gear.
Canyon Works plans to increase sales to around 300 million yen, three times
those of pre-disaster levels, in three years. 
In addition, the company plans to rehire 16 employees from the old Namie plant
and seven new staff, including three graduates from a local vocational college
in Iwaki City, thereby making a contribution to the employment generation in
the region. 
MCDRF decided to support Canyon Works because of the contribution this project
stands to make to the revitalization of industry and employment generation in
Fukushima. MCDRF will continue collaborating with local financial institutions
such as Abukuma Shinkin Bank to support efforts aimed at employment creation
and economic recovery in areas affected by the disaster. 
Reference Information 
Canyon Works Ltd 
1) Headquarters: 47, Oaza Kawazoe, Namie-machi, Futaba-gun, Fukushima, Japan 
2) Date Established: May 1, 1984 
3) Capital: 3 million yen 
4) Business Activities: Manufacture and sale of outdoor gear and diving goods
and other canvas-related products 
5) Representative: Masahiko Hangai, Representative Director 
Abukuma Shinkin Bank 
1) Headquarters: 2-4 Haramachi-ku, Sakae-cho, Minamisoma, Fukushima, Japan 
2) Date Established: September 1950 
3) Capital: 10.7 billion yen 
4) Business Activities: Savings, loans and other financial services 
5) Representative: Tsuneo Hanzawa, President 
Mitsubishi Corporation Disaster Relief Foundation 
1) Headquarters: 2-3-1 Marunouchi, Chiyoda-ku, Tokyo 
2) Date Founded: March 2012 (became a foundation in May 2012) 
3) Endowment: 6 billion yen 
4) Purpose: To contribute to the recovery of regions affected by the Great
East Japan Earthquake through the provision of scholarships and grants for NPOs
and social welfare corporations, as well as for recovery of industry and job
5) Representatives: 
- Chairman, Ken Kobayashi (President and CEO, Mitsubishi Corporation) 
- Deputy Chairman, Hideyuki Nabeshima (Member of the Board, Mitsubishi
- Executive Director, Yasuhito Hirota (Executive Vice President, Mitsubishi
About Mitsubishi Corporation 
Mitsubishi Corporation (MC; TSE: 8058) is a global integrated business
enterprise that develops and operates businesses across virtually every
industry including industrial finance, energy, metals, machinery, chemicals,
foods, and environmental business. MC's current activities are expanding
far beyond its traditional trading operations as its diverse business ranges
from natural resources development to investment in retail business,
infrastructure, financial products and manufacturing of industrial goods. With
over 200 bases of operations in approximately 80 countries worldwide and a
network of over 500 group companies, MC employs a multinational workforce of
nearly 60,000 people. For more information, please visit www.mitsubishicorp.com. 
Mitsubishi Corporation
Telephone:+81 3 3210 2171
Facsimile:+81 3 5252 7705 
Copyright 2014 JCN Newswire. All rights reserved. www.japancorp.net 
Provider ID: 00028993
Press spacebar to pause and continue. Press esc to stop.