For the attention of Tadashi Arashima – President Toyoda Gosei.

Letter sent by air mail 31 October 2011 to Toyoda Gosei Japan.

Regarding Toyoda Gosei Fluid Systems UK Ltd Pension Scheme.

            I am writing to you to voice the concern of some of the former employees of the above company. When Toyoda Gosei decided to close this company in 2008, there was an expression of concern to the then employees that the closure should be as honourable as possible. Also, there was a guarantee from Japan that the above pension fund would be supported and any deficit would be fully funded by the parent company – Toyoda Gosei.

While we are willing to accept this funding of the scheme will still be the case (as I have a copy of the guarantee document legally enforceable in both the United Kingdom and Japan) we are duly worried about the capability of both the pension trustees (The Trustee Corporation – Hammonds LLP) and the original pension administrators (Legal & General) in carrying out the closure and wind-up of the scheme.

This has been going on for over three years now, there have been delay after delay, including extremely poor attempts at a data consolidation, without a satisfactory resolution and while I accept The Trustee Corporation may well be correct in the statement that there is no financial loss to The Members (the ex-employees), one thing that Toyoda Gosei should be concerned of is that while this continues there is additional costs involved which someone will be meeting, with no other visible source of funding I would expect that will be yourselves. So, it would be in your interest to oversee a speedy conclusion.

I, on behalf of some of The Members have attempted to persuade, coerce and push for a resolution but there is a general lack of urgency from both The Trustee Corporation and Legal & General.

Listed below are the names of The Members who I am representing: -

Miss xxxx xxxxxxxxxx

Mrs xxxxxx xxxxxxxxx

Mr xxxxxxxxxx xxxxxxxxxxx

Mrs xxxxxxxxxx xxxxxxxxxx

Mr xxxxxxxxx xxxxxxxxxxx

Mr xxxxxx xxxxxxxxxxxx

Mrs xxxxxxxx xxxxxxxx

Miss xxxxx xxxxxxxxxxxx

Mrs  xxxxx xxxxxxxxxx

Miss xxx xxxxxxxxxxxxx

Miss xxxxxxxxx xxxxxxxxxx

Mr xxxxxxx xxxxxxxxxx

Miss xxxxxxxxxx xxxxxxxxxxxx

Mr xxxxxxx xxxxxxxxxx

Miss xxxxxxxx xxxxxxxxxx

Mr xxxxxxxxxx xxxxxxxxx 

Mr xxxxxxxx xxxxxxxxx

Mr xxxxxxx xxxxxxxx

Mrs xxxxxxxx xxxxxxxxx

Mr xxxxxxxx xxxxxxxxxxx

Along with these people I have also been contacted by a firm of financial advisors who state that they are also representing a “good number” of pension members and are receiving similar treatment over this winding up.

Please could you respond to this letter stating what Toyoda Gosei are prepared to do to ensure a satisfactory conclusion to this?

I know that Toyoda Gosei would want this to complete with minimal fuss, however, should this continue along its present course of poor service, poor advice and poor reporting of the situation to The Members I feel the only option open will be to contact the national media (both newspaper and television) to air our concerns.

Yours truly,

Richard (Henry) Nichols