The most common question our employees are asked when meeting someone for the first time is, "Why do you add the word 'new' to it?"
It's certainly a bit worrying, isn't it?
This time, we will explore the history of why company names have the character "new" in them!
NEW COSMOS ELECTRIC CO., LTD.,, Ltd. was founded in 1960, but in fact had experienced two bankruptcies prior to that.
The first one was Fukushima Electric Works, a specialized manufacturer of variable resistors used to control the volume of televisions and radios, founded in 1934.
In addition to variable resistors, the company expanded its business to include intermediate frequency transformers and coils, and at its peak it grew into a large company with over 2,000 employees.
In the midst of the period of rapid economic growth, the company attempted to transform itself from a parts manufacturer into a comprehensive home appliance manufacturer, but failed and was forced into bankruptcy in June 1957.
The second was Osaka New Cosmos Electric Co., Ltd. After Fukushima Electric Works went bankrupt, employees who remained at the Osaka factory rebuilt the company, and Osaka New Cosmos Electric Co., Ltd. was born in 1957.
The remaining 150 or so employees fought hard to rebuild the company, but it did not get on track and went bankrupt in April 1960.
After going bankrupt twice and the company giving up on reconstruction, the labor union took the initiative to establish the company that is NEW COSMOS ELECTRIC CO., LTD.,
This "new" represents the determination of the employees at the time to start over from scratch with our own strength.
Our company history records that, despite the extremely tough business environment at the time, there were many young employees and the atmosphere within the company was bright and cheerful.
The desire to have hope and carve out a bright future even in the midst of hardship is deeply connected to our Corporate Philosophy and is the origin of our company today.