Aisin Seiki Co., Ltd.
Toyota Boshoku Corporation
Denso Corporation
Aisin Seiki Foshan Body Parts Co., Ltd. (ASFB) and Toyota Boshoku Foshan Co., Ltd. (TBFC), both located in Foshan City, Guangdong Province, China held a joint opening ceremony on January 22 (Monday) at 10 a.m. local time (11 a.m. Japan time on the same day).
ASFB is a subsidiary of Aisin Seiki Co., Ltd. (Headquarters: Kariya City, Aichi; President: Yasuhito Yamauchi), and TBFC is a joint venture between Toyota Boshoku Corporation (Headquarters: Kariya City, Aichi; President: Shuhei Toyoda) and Denso Corporation (Headquarters: Kariya City, Aichi; President: Koichi Fukaya).
Over 150 guests attended the ceremony including Chen Yunxian, the Mayor of Foshan City; Li Zifu, the Vice Mayor of Foshan City; Ou Bangmin, the Chief Executive from Nanhai District, Foshan City; President Toru Kuzuhara from Guangzhou Toyota Motor Co., Ltd.; President Keisaku Ishita from Guangqi Toyota Engine Co., Ltd.; President Eiji Mieno from Tianjin in FAW Toyota Engine Co., Ltd.; Vice President Minoru Hayashi and Senior Managing Director Shinji Itakura from Aisin Seiki Co., Ltd.; Chairman Junichi Yoshikawa from Toyota Boshoku Corporation; Managing Officer Michio Adachi from Denso Corporation.
ASFB has been producing electric sunroofs and motor housings for power seats from May 2006. TBFC started its production of oil filters for China and other Asian markets in July 2006 and it plans to expand its production for the European market in 2007.
Outline of Aisin Seiki Foshan Body Parts Co., Ltd.
| 1. Company Name: | Aisin Seiki Foshan Body Parts Co., Ltd. |
| 2. Location: | Xiao Tang area High-tech Industrial Zone, Nanhai, Foshan, Guangdong, People’s Republic of China |
| 3. Establishment: | December 2004 |
| 4. Capital: | 11.6 million U.S. dollars (* Approximately 1.37 billion yen) |
| 5. Ownership: | Aisin Seiki Co., Ltd.: 55 percent Elite (BVI) Financial Co., Ltd.: 25 percent Hsin Chong International Investment Limited: 20 percent |
| 6. Representatives: | Chairman: Takeshi Kawata(Executive Vice President, Aisin Seiki) President: Tamotsu Hamada |
| 7. Total Investment: | 29 million U.S. dollars (Approximately 3.42 billion yen) |
| 8. Plant Area: | Land: Approximately 53,400 square meters Buildings: Approximately 13,400 square meters |
| 9. Products: | Electric sunroofs; Motor housings for power seats |
| 10. Start of Production: | May 2006 |
| 11. Number of Employees: | Approximately 230 (Planned for the fiscal year ending December 2007) |
| 12. Sales: | Approximately 377 million yuan (Approx. 5.67 billion yen) (Planned for the fiscal year ending December 2007) |
* Calculated at the exchange rates of 1 yuan to 15.03 yen and 1 U.S. dollar to 117.90 yen.
Outline of Toyota Boshoku Foshan Co., Ltd.
| 1. Company Name: | Toyota Boshoku Foshan Co., Ltd. |
| 2. Location: | Nanhai Science & Technology Industrial Park, Foshan, Guangdong, People’s Republic of China |
| 3. Establishment: | April 2005 |
| 4. Capital: | 9.6 million U.S. dollars (Approximately 1.13 billion yen) |
| 5. Ownership: | Toyota Boshoku Corporation: 60 percent Denso (China) Investment Co., Ltd.: 40 percent |
| 6. Representatives: | Chairman: Koji Ueda (Officer, Toyota Boshoku) President: Yasuhiro Maki |
| 7. Total Investment: | 24 million U.S. dollars (Approximately 2.83 billion yen) |
| 8. Plant Area: | Land: 80,000 square meters Building: 17,200 square meters |
| 9. Products: | Oil filters; Air cleaners |
| 10. Start of Production: | July 2006 |
| 11. Number of Employees | Approximately 240 (Planned for the fiscal year ending December 2007) |
| 12. Sales: | Approximately 100 million yuan (Approximately 1.5 billion yen) (Planned for the fiscal year ending December 2007) |
* Calculated at the exchange rates of 1 yuan to 15.03 yen and 1 U.S. dollar to 117.90 yen.
Joint Opening Ceremony of ASFB and TBFC
Denso Corporation Managing Officer Adachi(1st from the left),
Toyota Boshoku Corporation Chairman Yoshikawa (7th from the left),
Aisin Seiki Co., Ltd. Vice President Hayashi (8th from the left)