Tachi-s Co., Ltd. TSE:7239
TACHI S : Start of operation in India by a newly-established joint venture company in India
Source: MarketScreener
September 29, 2022 | |
Listed Company Name | TACHI-S CO., LTD. |
Name of Representative | Yuichiro Yamamoto, President & CEO & COO |
(Code 7239: Tokyo Stock Exchange, prime section) | |
Contact | Corporate Planning Office |
(TEL: +81-428-33-1138) |
Start of operation in India by a newly-established joint venture company in India
- Make inroads into growing Indian automotive market -
TACHI-S CO., LTD. (President: Yuichiro Yamamoto, Head Office: Akishima City, Tokyo, hereinafter referred to as "TACHI-S") and Uno Minda Limited (President: Mr. Nirmal K Minda, Head Office: Gurgaon, India) have agreed to start a new joint venture in the fast-growing Indian market. The new joint venture, to be named Uno Minda TACHI- S Seating Private Limited (hereinafter referred to as the "new company"), will start operations under a new management structure after the completion of the investment by both companies, which is planned for November 2022.
As a Global Seat System Creator * , we have been promoting business centering on the development, production and sales of automotive seats at 70 sites in 13 countries (as of September 2022). The joint venture to be established with Uno Minda Limited will be a milestone for future expansion of our business in the growing Indian market and will contribute to achieving the goals of our mid-term management plan called the Transformative Value Evolution (TVE) currently underway. We also intend to contribute to the further development of the Indian automobile industry through this business.
*Global Seat System Creator: A company that can develop seats including frames and produce them globally.
1. Outline of New Company | ||
Company name | Uno Minda TACHI-S Seating Private Limited | |
President | TBD | |
Location | Delhi, India | |
Date of establishment | November 2022 | |
Scope of business | Production and sales of mechanical parts for automobile seats | |
Capital | 132 million Indian rupees | |
Shareholder's ratio | Uno Minda Limited | 51％ |
TACHI-S | 49% | |
Impact on our business performance | The new company is not expected to have a noticeable impact | |
on our consolidated financial results for the fiscal year | ||
ending March 31, 2023 | ||
2. Contact | ||
Company name | TACHI-S CO., LTD. | |
Address | 1-3-1Suehiro-cho,Ome-shi, Tokyo (Technical Monozukuri Center) | |
Telephone | +81-428-33-1138 | (Corporate Planning Office) |