Toyoda Gosei to Invest in Interior and Exterior Parts Manufacturing Company in Central China
Kiyosu, Japan, July 6, 2022: Toyoda Gosei Co., Ltd., through its regional headquarters in China, Toyoda Gosei (China) Investment Co., Ltd. (TG China), is investing in Wuhan Binyu Auto. Part Co., Ltd. This move will strengthen Toyoda Gosei’s supply system for interior and exterior automotive parts in central China.
Wuhan Binyu is a production company in the Yibin Group (Ningbo Yibin Electronic Technology Corp.) that supplies interior and exterior automotive parts in China’s major automobile manufacturing regions (north China, south China, central China). It provides console boxes and cockpit components to Dongfeng Honda Automobile Co., Ltd. and Dongfeng Motor Co., Ltd. (Dongfeng Nissan) in central China. With this investment, the Toyoda Gosei Group aims to grow its sales in China by merging its engineering and production expertise as a global supplier of plastic parts with the business partnership that Ningbo Yibin has built over many years with automakers in China.
Outline of Wuhan Binyu (investee company)
|Company name||Current: Wuhan Binyu Auto. Part Co., Ltd.
New: Yibin Toyoda Gosei (Wuhan) Auto Parts Co., Ltd.
|Location||Wuhan, Hubei, China|
|Capital||CNY 20.0 million|
|Shareholders||Current: Ningbo Yibin 100%
New: Ningbo Yibin 66%
Toyoda Gosei (China) Invest. Co., Ltd. 34%*
|Products||Interior and exterior products (consoles, registers, more)|
|Approx. 27,000 m2
Approx. 32,000 m2
|No. employees||174 (as of May 31, 2022)|
* TG China is purchasing 34% of shares from Ningbo Yibin for approx. JPY 350 million. Calculated at 1 Chinese yuan = 17.5 Japanese yen
Outline of Ningbo Yibin
|Name||Ningbo Yibin Electronic Technology Corp.|
|Location||Ningbo, Zhejiang, China|
|Capital||CNY 92.80 million|
|Shareholders||Wang Jianhua, others|
|Products||Interior and exterior products|
|No. employees||2,203 (as of May 31, 2022)|
Production locations for interior and exterior products in China