FUJI BICYCLE               HISTORY                       1899-2009 

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1899 - The Nichibei Trading Company is established in Japan as an importer and marketing agent of products from
 the United States. The word ‘Nichibei’ translates literally as ‘Japanese-American’.

1919 - Nichibei Fuji Cycle Company, Ltd. is formed by the merger of Nichibei Trading Company and a Japanese
Mechanical Engineering company. Nichibei Fuji Cycle Company begins the production of bicycles for the Japanese
domestic market.

1946 - Toshoku, or Tokyo Food Products Company, is established as a distributor, exporter and marketer of food
products.

1950’s - By the late 1950’s Toshoku Japan has obtained the rights to distribute Nichibei Fuji made bicycles to
foreign countries. Toshoku America, wholly owned by Toshoku Japan, has been established to distribute Nichibei
Fuji bicycles in the U.S.   Nichibei Fuji bicycles are private branded and sold through Sears & Roebuck and
Montgomery Wards as house brands.

1961 - Toshoku Japan changes name to Toshoku Ltd.

1971 - Toshoku America establishes Fuji America, headquartered in New York City.    Regional distributors are
established to service New York, New Jersey/Pennsylvania, Michigan, Alabama/Louisiana and Minnesota/Wisconsin.

Fuji bicycles are shown for the first time in the U.S. as FUJI branded bicycles at the New York Bicycle Dealer Show.
Three models displayed are The Newest, The Finest and S10-S. Show space is sold out so Fuji America displays
their bicycles in the lobby of the Hilton Hotel.

Private branding for Sears & Roebuck, Montgomery Wards and other distribution channels of Nichibei Fuji bicycles
are phased out by Toshoku America.  Fuji America begins selling FUJI branded bicycles through its own
distributors to local bicycle shops.

1980 - Ideal Bike Company is formed in Taiwan to manufacture bicycles and bicycle accessories.

1979-1990 - In 1979 Nichibei Fuji begins to move the production of some of the lower and lower-middle end
bicycles out of Japan to South Korea, Malaysia and Taiwan. The high-end, hand made models were the last to
leave Japan. By the end of the 1980’s bicycle production has moved toTaiwan.

1996 - Nichibei Fuji and Toshoku, Ltd. merge.

1997 - Toshoku, Ltd. declares bankruptcy. The bicycle distribution portion of the company is taken over by
Advanced Sports, Inc.

Ideal Bicycle Company expands some production into Mainland China.

1998 - The food distribution of Toshoku, Ltd. is taken over by Cargill, Inc. an international food products
distribution company.

Nichibei Fuji Cycle Company declares bankruptcy.

1998-1999 - Jadeland Pacific, an investment group, is formed in the British Virgin Islands and acquires
an 83% ownership of Advanced Sports, Inc.

Advanced Sports, Inc purchases assets of Fuji America and the Worldwide distribution rights to the Fuji
bicycle brand.

Ideal Bicycle Company expands production into Poland.

2000 - Cargill Asia Pacific, Ltd, a division of Cargill, Inc., becomes 100% owner of Toshoku, Ltd.

2001 - Advanced Sports, Inc. and Ideal Bicycle Company sign a strategic relationship and a build and buy
agreement for Fuji brand bicycles.

2002 - Advance Sports Inc. purchases SE Racing (SE Bikes), a BMX bicycle manufacturer. SE bicycles are
marketed and distributed worldwide by Advanced Sports, Inc. 

2004 - Ideal Bicycle Company invests in Advanced Sports, Inc. and acquires 17% ownership. The FUJI
bicycle brand and its world wide distribution rights are owned by Advanced Sports Inc.
Advanced Sports, Inc. is owned by Ideal Bicycle Company (17%) and Jadeland Pacific (83%).

2005 - Ideal Bicycle Company opens a manufacturing facility in Dong Guan, China.

Ideal Bicycle Company enters into a joint venture with Advanced Sports, Inc. to create Advanced Sports
International Asia, Ltd. (ASI-Asia).

ASI Asia begins distribution of Fuji and SE brands in Taiwan.

Advanced Sports, Inc. moves its headquarters from Oakland, New Jersey to Philadelphia, Pennsylvania.

2007
- Advanced Sports, Inc. purchases Kestrel Bicycles. 


2008
- Advanced Sports, Inc. purchases Breezer Bicycle.

ASI enters into a purchase agreement to buy Twin Sport (re-names it ASI-Europe) and begins direct
distribution of ASI's brands in Germany.

2009
- ASI-Asia begins direct distribution in China of all ASI brands.

ASI licenses the Terry brand for bicycles worldwide.

Notes:
Ideal Bicycle Company is the third largest bicycle manufacturer in Taiwan after # 1-Giant and #2-Merida.
Ideal Bicycle Company also has bicycle manufacturing facilities in China and Poland.
Ideal Bicycle Company and Fuji Bicycles are not affiliated with Fuji Heavy Industries LTD or Subaru Automotive.