TS TECH : Notice Regarding the Establishment of a New Company in Poland
September 28, 2021 at 11:32 am IST
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September 28, 2021
Company name:
TS TECH Co., Ltd.
Representative:
Masanari Yasuda,
President and Representative Director
Stock code:
7313 (First Section, Tokyo Stock Exchange)
Contact:
Yoshitoshi Goma,
Administration Department General Manager
Phone number:
+81 048-462-1121
Notice Regarding the Establishment of a New Company in Poland
TS TECH Co., Ltd. (hereinafter "TS TECH") resolved at the Board of Directors meeting held September 28, 2021 to establish a new company in Poland. Details are as follows.
1. Purpose of the New Company
With a sales/research office in Germany and a production site in Hungary, the TS TECH Group (hereinafter "the Group") has deployed aggressive sales initiatives in order to expand the scope of its automobile seat business in Europe. The Group will establish a new company in Poland to serve as a new production site in anticipation of the acquisition of new customers and the expansion of commercial rights. The Group will work to achieve additional business growth and further improve profitability through increased production capabilities in Europe and an optimal production framework that includes the supply chain.
2. Outline of the New Company (planned)
Name
TS TECH Poland Sp. z o.o.
Address
Częstochowa, Poland
Title and name of representative
TBA
Description of business
Manufacture and sale of seats for automobiles
Capital
PLN 120,000,000 (~3.5 billion yen)
Date of establishment
October 2021 (planned)
Launch of operations
June 2023 (planned)
Major shareholder and ownership ratio
TS TECH, 100％
Capital
A 100% wholly-owned subsidiary of TS TECH
Relationships
Personal
TS TECH officers will serve concurrently as Directors of the
with TS TECH
new company (planned)
Business
Not applicable (planned)
Investment amount
PLN 86,000,000 (~2.5 billion yen)
3. Future Outlook
As the new company is scheduled to launch operations around June 2023, its impact on the FY2022 consolidated operating results will be minor. It is expected to contribute to the consolidated operating results from FY2024 onward.
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Disclaimer
TS TECH Co. Ltd. published this content on 28 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 September 2021 06:01:07 UTC.
TS TECH CO., LTD. is a Japan-based company mainly engaged in manufacture and sale of two-wheel vehicle seats and interior components. The Company operates in four segments. The Japan segment is engaged in the manufacture and sale of two-wheel vehicle seats and resin parts, four-wheel vehicle seats and interior components. The Americas segment is engaged in the manufacture and sale of two-wheel vehicle seats and resin parts, four-wheel vehicle seats and interior components. The China segment is engaged in the manufacture and sale of four-wheel vehicle seats and interior components. The Asia and Europe segment is engaged in the manufacture and sale of two-wheel vehicle seats and resin parts, four-wheel seats and interior components.
TS TECH CO., LTD. 
