Sato Shoji to Open JV in China and Thailand in 2011

Japanese major steel trading firm, Sato Shoji establishes automobile related fabricating joint venture in China and Thailand in second half of fiscal 2010 ending March 2011. The investment is about 250 million yen and the JVs will start the operation in 2011. Sato Shoji plans to increase the overseas sales rate of consolidated sales to around 30% from current slightly less than 10% in 5 years. The firm will invest the operation sites in emerging countries.

Sato Shoji establishes the JV due to growing automobile demand in China and Thailand. The machining JV in China starts the commercial operation in July 2011 while Thai automobile parts manufacturing JV starts in early 2011 and Thai plate fabricating JV in April 2011.

Sato Shoji’s affiliated company, Sato Shoji Hong Kong plans to increase the sales to 5.1 billion yen in fiscal 2011 while the sales is estimated at 4.4 billion yen in fiscal 2010 and opens its subsidiary in Guangdong province, China in 2011. Sato Shoji Shanghai increases the sales to 3.7 times at 1.1 billion yen and Sato Shoji Thailand by 18% to 1.3 billion yen. In Japan, Sato Shoji has established coil center and warehouse with increasing the sales to contract users.

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