Toyota Boshoku Corporation Accepts Investment from AUNDE Achter & Ebels to TB Kawashima to Strengthen its Subsidiary's Automotive Seat Fabric Business

Management & Business

Toyota Boshoku Corporation (Head Office: Aichi, Japan; President: Masayoshi Shirayanagi) has decided to accept a capital investment from AUNDE Achter & Ebels GmbH (Head Office: Germany; hereinafter referred to as "AUNDE") to its consolidated subsidiary, TB Kawashima Co., Ltd. (Head Office: Shiga, Japan;  hereinafter referred to as "TB Kawashima"). As a result, our voting rights ratio of TB Kawashima will be 20.0%, and TB Kawashima is scheduled to become an equity method affiliate company.

TB Kawashima, established in December 2009 for manufacturing fabrics for transportation equipment mainly for automobiles, already has a collaborative relationship with AUNDE in India and so on. By developing business jointly together with AUNDE as controlling and major shareholder, which has a business base with European and American automakers, TB Kawashima will strengthen its competitiveness.

After establishing joint venture in India with AUNDE, TB Kawashima has been expanding the relationship with AUNDE such as production outsourcing in the North American region, and a global business partnership agreement.
This time by further strengthening the collaboration, TB Kawashima will evolve into a true global supplier and will enhance new product development capabilities.
We are confident that we can dramatically improve customers' satisfaction by this new joint venture.

Please note that AUNDE's investment in TB Kawashima will be implemented after obtaining clearance from the competition authorities of the relevant countries.  Since it is difficult to predict the time required for the procedures at the competition authorities, the investment has not been finalized at this time. We will notify you again as soon as it is confirmed.

【Company Profile of TB Kawashima】
①Company Name TB Kawashima Co., Ltd.
②Location   Shiga, Japan
③Representative President and Representative Director  Hirokazu Kameno
④Business    Development, manufacturing and sales of interior materials and interior parts for transportation vehicles
⑤Capital     490 million yen
⑥Date Founded December 2009
⑦Shareholder (Before)Toyota Boshoku Corporation 100%  (After) AUNDE 80%, Toyota Boshoku Corporation 20%