As Union Tool's share price rose sharply, the company announced construction of the Mitsuke Fourth Plant and preparations to acquire land for a new plant. It is moving to establish production and development bases for future business expansion.
Union Tool announced on the 16th that it would build the Mitsuke Fourth Plant.
The company said the project would increase cutting-tool production capacity and establish production and development bases to support future business expansion. No further details have been released, but the project is viewed as part of the company's large-scale investment plan.
The company also resolved to prepare an application for a regional economic-driving business plan under the Regional Future Investment Promotion Act, in connection with the planned acquisition of land for a new plant in Sekiharamachi, Nagaoka, Niigata Prefecture.