In order to strengthen its production network in the ASEAN region, Toyota Boshoku Corporation (Headquarters: Kariya, Aichi Pref., President: Shuhei Toyoda) will acquire all the shares of Thai Automotive Seating & Interior Co., Ltd. (Chachoengsao, Thailand, hereinafter referred to as TASI), an affiliated company producing automobile interior parts in Thailand.
TASI is a joint company of NHK Springs Co., Ltd. (Headquarters: Yokohama, Kanagawa Pref., President: Takehiko Amaki; hereinafter referred to as NHK) and Toyota Boshoku, and produces interior parts, such as automobile seats and door trims. Toyota Boshoku Asia Co., Ltd. (Samutprakarn, Thailand; hereinafter referred to as TBAS), a regional management company of Toyota Boshoku in the ASEAN region, will acquire all the shares of TASI owned by NHK; accordingly TASI will become a wholly owned subsidiary of TBAS.
This acquisition will strengthen Toyota Boshoku’s development and production structure in the ASEAN region, making Thailand its center. Furthermore, the Group’s global network as an automobile interior system supplier will be further enhanced.
In connection with this acquisition, TASI will be renamed Toyota Boshoku Gateway (Thailand) Co., Ltd. on August 1, 2007.
An outline of TASI is as follows:
| 1. Company name | THAI AUTOMOTIVE SEATING & INTERIOR CO., LTD. |
| 2. Location | Chachoengsao, Thailand |
| 3. President | Yoshinori Omori |
| 4. Established | August 1997 |
| 5. Capital | 250 million baht (about 900 million yen*) |
| 6. Ownership | TOYOTA BOSHOKU CORPORATION : 50% (124,999 shares) NHK SPRINGS CO., LTD. : 15% (37,500 shares) NHK SPRINGS (THAILAND) CO., LTD.: 35% (87,501 shares) |
| 7. Business line | Production and sale of automobile seats and door trims |
| 8. Sales | 3,514 million baht (about 12,000 million yen* for the fiscal term ending in December 2006) |
| 9. Number of employees | 774 (as of December 31, 2006) |
* Capital calculated at 3.6 yen/baht (for the fiscal term ending in June 2007), and sales at 3.41 yen/baht (for the fiscal term ending in December 2006)
[Supplement]
<TBAS company profile>
| 1. Company name | TOYOTA BOSHOKU ASIA CO., LTD. |
| 2. Location | Samutprakarn, Thailand |
| 3. President | Manabu Hachisuka |
| 4. Established | June 2001 |
| 5. Capital | 30 million baht (about 100 million yen*) |
| 6. Ownership | TOYOTA BOSHOKU CORPORATION: 100% |
| 7. Business line | Development, engineering, and sale of automobile seats and interior parts, and sale of filters and power train equipment parts |
| 8. Sales | 13,442 million baht (about 49,300 million yen* for the fiscal term ending in March 2007) |
| 9. Number of employees | 115 (as of March 31, 2007) |
* Capital calculated at 3.6 yen/baht (for the fiscal term ending in June 2007), and sales at 3.67 yen/baht (for the fiscal term ending in March 2007)
<NHK company profile>
| 1. Company name | NHK SPRINGS CO., LTD. |
| 2. Location | Yokohama, Kanagawa Prefecture |
| 3. President | Takehiko Amaki |
| 4. Established | September 1939 |
| 5. Capital | 17,009,570,000 yen |
| 6. Business line | Production and sale of suspension springs, seats, precision springs, HDD suspension systems, industrial machinery, etc. |
| 8. Sales | 428 billion yen (for the fiscal term ending in March 2007, on a consolidated basis) |
| 9. Number of employees | 11,781 (as of March 31, 2007, on a consolidated basis) |
<NHK SPRINGS (THAILAND) company profile>
| 1. Company name | NHK SPRINGS (THAILAND) CO., LTD. |
| 2. Location | Samutprakarn, Thailand |
| 3. President | Hiroyuki Kado |
| 4. Established | December 1963 |
| 5. Capital | 410 million baht (about 1,500 million yen*) |
| 6. Ownership | NHK SPRINGS CO., LTD.: 93.5 % |
| 7. Business line | Production and sale of suspension springs, seats, precision springs, HDD suspension systems, etc. |
| 8. Sales | 16,090 million baht (about 54,900 million yen* for the fiscal term ending in December 2006) |
| 9. Number of employees | 1,845 (as of March 31, 2007) |
* Capital calculated at 3.6 yen/baht (for the fiscal term ending in June 2007), and sales at 3.41 yen/baht (for the fiscal term ending in December 2006)