Yazaki Corporation held a press conference in Tokyo on Friday about the establishment of a domestic new manufacturing and selling subsidiary, Yazaki Energy System Corporation (below Yazaki ES). Yazaki ES president Ko Yazaki explained the new company plans to increase the domestic sales by 3-4% or more for the first 5 years while projects to advance offshore businesses. Annual domestic revenue of Yazaki ES is estimated at 111.7 billion yen for a fiscal year ending in June 2012.Yazaki ES covers 4 core businesses. Annual revenue of electric wire and cable business is estimated at 67.4 billion yen for a fiscal year ending in June 2012. Gas related appliance business would post 22.6 billion yen. Environmental system business to produce and sell air conditioner and solar thermal appliances would post 13.2 billion yen. Instrumentation business covering automotive appliances such as tachograph and taxi meter would post 8.5 billion yen. Yazaki ES stimulates mutual synergy of 4 core businesses and projects gradual sales growth in domestic market. At the same time, Mr. Ko Yazaki showed an intention to broaden the business fields to offshore market. Yazaki Corp. has operated the electric wire and cable plant in Thailand for long years while Yazaki ES examines the business enhancement to surrounding countries such as Laos, Myanmar and Cambodia. Yazaki Corp. has also sold instrumentation appliances in Southeast Asia or concluded a total business partnership with Chinese enterprise for solar thermal appliances. Yazaki Corp. president Shinji Yazaki also attended the press conference and explained the company decided to establish Yazaki ES since specific optimization is necessary to make speedy managing decisions for each business market. He said automotive component business accounts for 90% of consolidated sales of Yazaki Corp. and the precise operation has been difficult for each business. He described Yazaki Corp. would post 1.22-1.23 trillion yen of annual consolidated revenue with record high recurring profit in a fiscal year ending in June 2012.
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