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29 Oct 2007
Reinforcement of Business Control Function in China
Toyota Boshoku Corporation (Headquarters: Kariya, Aichi Pref., President: Shuhei Toyoda) will
modify the corporate form of TOYOTA BOSHOKU (SHANGHAI) CO., LTD., a subsidiary of
Toyota Boshoku Corporation and their controlling company in China, from a commercial-type
company to an investment-type company in order to reinforce its business control function.
Accompanying the modification, its capital will be increased by US$30 million (approximately
3.45 billion yen), and its company name will be changed to TOYOTA BOSHOKU (CHINA) CO.,
LTD.
Toyota Boshoku Corporation has so far established 12 production bases in China which
manufacture seats, interior components such as door trims, filtration and power train
components. The new company will advance the reinforcement of its system as a controlling
company in order to operate the business more efficiently in the area as a whole and to perform
the centralized control of every function, with the aim of managing the whole area through one
company.
Together with its global business expansion, Toyota Boshoku Corporation is aiming at
establishing centralized, efficient business management systems through controlling companies
at the four poles of the world, namely the Americas, China, ASEAN and Europe. The current
modification of the corporate form is part of such activities.
The outline of the new company is as follows:
| 1. Company Name: |
TOYOTA BOSHOKU (CHINA) CO., LTD. |
| 2. Location: |
Pudong New District, Shanghai, China |
| 3. Established: |
March, 2002 |
| 4. Modification of Corporate Form: |
December, 2007 (scheduled) |
| 5. Capital: |
US$32 million (approximately 3.68 billion yen*) |
| 6. Ownership: |
Toyota Boshoku Corporation: 100% |
| 7. President: |
Tsumoru Ikeda |
| 8. Line of Business: |
Controlling business of the Chinese area and
development, design and the sale of seats and interior
components |
| 9. Number of Employees: |
330 (scheduled for 2009) |
| 10. Sales Volume: |
Approximately 240 million yuan (3.6 billion yen*)
(predicted volume in 2009) |
* Calculated using the exchange rates of; US$1.00 = 115 yen and 1 yuan = 15 yen.
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