Ts Tech Co., Ltd. TSE:7313
TS TECH : Notice Regarding the Establishment of a New Company in Poland
Source: MarketScreener
September 28, 2021 | |
Company name: | TS TECH Co., Ltd. |
Representative: | Masanari Yasuda, |
President and Representative Director | |
Stock code: | 7313 (First Section, Tokyo Stock Exchange) |
Contact: | Yoshitoshi Goma, |
Administration Department General Manager | |
Phone number: | +81 048-462-1121 |
Notice Regarding the Establishment of a New Company in Poland
TS TECH Co., Ltd. (hereinafter "TS TECH") resolved at the Board of Directors meeting held September 28, 2021 to establish a new company in Poland. Details are as follows.
1. Purpose of the New Company
With a sales/research office in Germany and a production site in Hungary, the TS TECH Group (hereinafter "the Group") has deployed aggressive sales initiatives in order to expand the scope of its automobile seat business in Europe. The Group will establish a new company in Poland to serve as a new production site in anticipation of the acquisition of new customers and the expansion of commercial rights. The Group will work to achieve additional business growth and further improve profitability through increased production capabilities in Europe and an optimal production framework that includes the supply chain.
2. Outline of the New Company (planned)
Name | TS TECH Poland Sp. z o.o. | ||
Address | Częstochowa, Poland | ||
Title and name of representative | TBA | ||
Description of business | Manufacture and sale of seats for automobiles | ||
Capital | PLN 120,000,000 (~3.5 billion yen) | ||
Date of establishment | October 2021 (planned) | ||
Launch of operations | June 2023 (planned) | ||
Major shareholder and ownership ratio | TS TECH, 100％ | ||
Capital | A 100% wholly-owned subsidiary of TS TECH | ||
Relationships | Personal | TS TECH officers will serve concurrently as Directors of the | |
with TS TECH | new company (planned) | ||
Business | Not applicable (planned) | ||
Investment amount | PLN 86,000,000 (~2.5 billion yen) |
3. Future Outlook
As the new company is scheduled to launch operations around June 2023, its impact on the FY2022 consolidated operating results will be minor. It is expected to contribute to the consolidated operating results from FY2024 onward.