Sumitomo Electric Targets No.1Supplier for Auto Wiring Harness

Sumitomo Electric Industries aims no.1 global market share of automotive wiring harness by 2012. The firm already achieved its “Global 20″ target, along which Sumitomo Electric group captures 20% global share of automotive wiring harness market by 2010. The firm continues to strengthen its global supply network of automotive wiring harness for worldwide model cars.Sumitomo Electric and Sumitomo Wiring Systems acquired Volkswagen Bordnetze GmbH (VWBN) in March 2006, which is a leading manufacturer of wiring harnesses in Germany. Sumitomo Electric group could increase its global share by 3 percentage points in automotive wiring harness market thanks to the acquisition and holds more than 21% share at present.Japanese auto makers, main users of Sumitomo Electric’s wiring harnesses, are rapidly increasing their global share of automobile market, when they expand the sales of fuel-efficient and environment-responsive cars at overseas markets under environmental regulations and higher crude oil price. Sumitomo Electric group has increased its market share of automotive wiring harness market following such a circumstance.Toyoaki Hosokawa, executive officer of Sumitomo Electric, said the firm could achieve 20% global share within 2006 even without the acquisition for VWBN. He explained that the firm aims to approach 24-25% global share during its next mid-term management plan to fiscal 2012 ending March 2013.Sumitomo Electric plans to expand sales of automotive wiring harness especially in Chinese market. The firm aims to sell more wiring harnesses to Japanese and Volkswagen group auto makers producing automobiles in China.