TACHI S : Start of operation in India by a newly-established joint venture company in India
September 29, 2022 at 03:14 am
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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)
E-mail
ts-kikaku@tachi-s.co.jp
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Disclaimer
TACHI-S Co. Ltd. published this content on 29 September 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 September 2022 07:13:07 UTC.
TACHI-S CO., LTD. is a Japan-based company mainly engaged in the manufacturing and sales of automotive seats and related parts. The Company operates through six business segments. It is engaged in the manufacturing and sales of seats for vehicles, including passenger cars, trucks and buses. It is also engages in the manufacturing and sales of other parts, such as steering components and vehicle body mechanism components. It is also engaged in the rental of commerce facilities.