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June 21, 2006

Toyoda Gosei Czech celebrates the 5th anniversary of its establishment

Toyoda Gosei Co., Ltd
Aichi, Japan—Toyoda Gosei Czech, s.r.o, (TGCZ), a joint subsidiary of Toyoda Gosei Co., Ltd and Toyoda Tsusho Co., Ltd, held the celebration ceremony of its fifth anniversary on 
June 6. 

Participating in the ceremony were the company's Chairman of the Board Tokio Horigome, Toyoda Tsusho's Executive Vice President Nobuhiko Sahara, and TGCZ President Yukio Kawakita. Among the guests invited were Czech Republic Prime Minister Jiří Paroubek, Josef Labl, Special Advisor of CzechInvest, and Hideaki Kumazawa, Japanese Ambassador Extraordinary and Plenipotentiary to the CzechRepublic. 

Also invited to the ceremony was Petr Zuna, associate dean of the CzechTechnicalUniversity, which will open a satellite school this September in KomtofuCity, adjacent to the Verne industrial zone in Klásterec nad Ohrí, where TGCZ is located. 

At the ceremony, Prime Minister Paroubek expressed gratitude to TGCZ for being a pioneer among Japanese companies investing in theCzechRepublic and as a model foreign-owned enterprise which shows concern for the welfare of its employees. In October, 2004, the company was awarded the Investor of the Year award by CzechInvest, the investment and business development bureau of the CzechRepublic. 

The company was established as TG Safety System Czech in 2001, with a capital of 970 million Czech korunas (about 4.7 billion yen); since April of 2002, it has focused on the manufacture of automobile safety system products like steering wheels and driver’s side air bags and from February 2004, functional parts such as racks and pinion boots. Our clients include Toyota Peugeot Citroen Automobile Czech, s.r.o., Toyota Motor Manufacturing Turkey Inc., Magyar Suzuki Corp., and Honda of the UK Manufacturing Ltd. In April, 2005, the company name was changed to Toyoda Gosei Checz, s.r.o.

Our company has achieved phenomenal successes in the last five years, including the acquisition of QS9000 certification in December of 2003 and ISO14001 certification in March of 2004. In order to meet the increasing demand for our products, we established a second manufacturing plant in the Czech Republic in 2004 and plan to further expand our business with the opening of a third plant this August, which is scheduled to begin production of body sealing products. Due to this expansion, we expect our revenue to double, from approximately 1.68 billion Czech koruna (about 8.1 billion yen) in fiscal 2005 to approximately 3.5 billion Czech koruna (about 17 billion yen) in fiscal 2008. We have also created numerous job opportunities in the local market by hiring about 460 employees. To meet the expansion of our business, we plan to increase the number of employees to about 840 by fiscal 2008.