Marelli Corporation (Formerly Calsonic Kansei Corporation)

Company Profile

■URL

https://www.marelli.com

■Address

2-19-4 Miyaharacho Kita-ku, Saitama-shi, Saitama-ken 331-8501 Japan

Business Overview

-A major supplier to Nissan, Calsonic Kansei acquired a major Italian lamp manufacturer, Magneti Marelli, in 2019 and renamed the company to Marelli.

-The main products of the former Calsonic Kansei are cockpit modules/interiors, air conditioning systems, heat exchangers, and compressors. The main products of the former Magneti Marelli (Now is Marelli Europe S.p.A.) are lighting, electronics, and powertrain.

-The Company operates through 10 business areas: Automotive lighting and sensing, Electric powertrain, Thermal solutions, Electronics systems, Green technology solutions, Interior experience, Powertrain, Ride dynamics, Motorsport, and Aftermarket.

-On May 2023, the Company announced the creation of Marelli Propulsion Solutions division. The new division combines Powertrain and Electric powertrain businesses and plan to support the customers’ electrification journey with co-created innovation. It focuses on software enabled components and systems such as battery management systems and smart actuators, as well as on vehicle software architecture like vehicle domain controls.

 

Business revitalization plan

-In March 2022, the company filed an application for a Turnaround ADR, a type of private liquidation, because its total liabilities exceeded 1 trillion yen. The company said it would request debt forgiveness from Mizuho Bank, its main bank, and other financial institutions with which it does business. In June of the same year, the company was unable to obtain the consent of all creditors at a meeting of creditors and decided to move into civil rehabilitation proceedings.

-In July 2022, the Company started its simplified civil rehabilitation. With the simplified civil rehabilitation proceeding, the Company can take over the rehabilitation plan of the ADR proceeding. At the same month, the Company’s business revitalization plan including additional investment by KKR & Co. Inc., a U.S. investment fund, and debt waiver by financial institutions has also been approved. The business revitalization plan will focus on the reassessment of the organization and workforce system, cost competitiveness reinforcement, and investment in human resources and innovation.

-In August 2022, the Company announced that the approval of its business revitalization plan by the Tokyo District Court had been confirmed. Revitalization proceedings were concluded with the confirmation of approval. Moreover, the revitalization plan will come into effect, and the parent company's US investment fund KKR will make an additional investment in Marelli, and financial institutions will waive their claims.

Products

Cockpit Modules / Interior Products
-Instrument panels
-Consoles
-Decorative Finisher
-Steering Members
-Full digital cluster
-Cockpit domain controller

Electronics Products
Power Electronics
-Inverters
-LBC Li-ion LBC; Lithium Ion Battery Controller
-Regeneration storage battery system Sonic Power
-Blower motors for HVAC
-LIN communication motor actuators for HVAC
-Body Control Module
-Keyless Entry
-Gateway
-Inverter
-DC-DC converter evolution with SiC/GaN technologies

e-Axle

-Human Machine Interface
-Meter clusters
-Integrated Control Switch
-Air Conditioner Control Switch
-Occupant Detection System

Telematics box module

Exhaust Products
-Exhaust Systems
-Mufflers
-Exhaust manifold converters
-Spun Converters
-Control Valves
-Sheet Metal Turbine Housing CK-SMiTH
-Burner

Climate Control Systems
-Air conditioning units
-Evaporators 
-Heater Cores
-Cool Box

Heat Exchange Systems
-Radiators
-Condensers
-Motor fans
-EGR coolers for gasoline engines
-Built-in oil coolers / warmers
-Charge air coolers (Inter coolers)
-EV Thermal System (iTMS)
-Heat Energy Recovery System (HERS)

Powertrain products
-High and ultra high pressure fuel systems
-Transmission control systems
-Throttle body
-Intake manifold
-Vehicle dynamics control module (VDCM)
-Injector With TJI Technology
-DCT TCU 11TDF

Electric Powertrain


Compressors
-Variable displacement compressors
-Rotary compressor series

Automotive Lighting & Sensing
-LiDAR
-h-Digi lighting module
-Headlamp module
-Rear lamp module
-Smart corner (light unit with integrated sensors)
-Illuminated front panel
-Near field ground projection system

Ride dynamics
-Full active suspensions

Green Technology Solutions

History

Aug. 1938 Founded as Nippon Radiator Manufacturing Co., in Tameike, Akasaka, Minato-ku, Tokyo with capital of 20 thousand yen.
Dec. 1948 Transferred headquarters to Minamidai, Nakano-ku, Tokyo.
Dec. 1952 Renamed as Nippon Radiator Co.,
Jun. 1954 Became a sole supplier of radiators to Nissan Motor.
Feb. 1962 Listed on the Tokyo Stock Exchange.
Jun. 1962 Established the Oppama Plant in Natsushima-cho, Yokosuka, Kanagawa Pref.
Jun. 1966 Established the Atsugi Plant in Aikawa-cho, Aikou-gun, Kanagawa Pref. (in the Kanagawa Pref. Inland Industrial Park)
Jul. 1969 Established the Sano Plant in Sakae-cho, Sano, Tochigi Pref. (in the Sano Industrial Park)
Oct. 1972 Opened a American representative office in Los Angeles, California.
May 1974 Established the Gunma Plant in Oura-machi, Oura-gun, Gunma Pref.
Jun. 1976 Established Calsonic Incorporated in Los Angeles, California (later renamed Calsonic Climate Control Corp in Jan. 1988)
Feb. 1977 Established the Kyushu Plant in Nakatushi, Oita Pref. (currently the Kyushu Nakatushi Plant)
Apr. 1983 Established Calsonic Manufacturing in Tennessee, US.
Apr. 1984 Established NICHIRA International in Victoria, Australia (current company name is Calsonic Australia)
Sep. 1984 Established TI-NIHON in the Netherlands (current company name is Calsonic Automotive Products (NL)).
Feb. 1986 Established Calsonic International in Los Angeles, California as a regional headquarters for the Company's American subsidiaries.
Mar. 1986 Established TI-NIHON UK (current company name is Calsonic Automotive Products) in the U.K.
May 1986 Established Calsonic Harrison in Kiyohara Industrial Park, Utsunomiya-city, Tochigi Pref., as a joint venture with General Motors
Jul. 1988 Established CEI in Tennessee, USA.
Aug. 1988 Renamed as Calsonic Corporation
Jun. 1989 Acquired Sranessry Radiator Group (located in UK), and established Calsonic International (UK) (current company name is Calsonic International (Europe)) as a regional headquarters for the Company's European subsidiaries.
Apr. 1991 Established Crimatisadoress Calsonic in Spain and Calsonic Korea Inc. in Korea.
Jun. 1991 Built a main building for development in Sakae-cho, Sano, Tochigi Pref. and renamed the former Air Conditioning Technology Center as the Technical Center.
Sep. 1991 Established Calsonic Oita Co., Ltd. in Usashi, Oita Pref.
Oct. 1995 Merged Calsonic Manufacturing and Calsonic Climate Control, and named the company North America Calsonic.
Jan. 1996 Founded CESKOR Inc. in South Korea.
Oct. 1997 All facilities obtained ISO9001 certificate simultaneously. In addition, QS9000, a quality standard set by a U.S. automobile manufacturer, is expected to be obtained by the entire organization.
Feb. 1996 Constructed Biwako plant in Ishibe-cho, Koga-gun, Shiga Pref.
Oct. 1996 Established Calsonic Products Inc. by merging Calsonic Twintee Corp., Calsonic Nitto Corp. and Calsonic Kowa Corp.
May 1997 Founded Calsonic Mexicana S.A.de C.V.
Nov. 1999 Signed a merger contract with Kansei Corp. (Date of merger: April 1, 2000)
Jan. 2000 Opened a Paris office to respond orders from Renault. Reorganized the company's part-based sections into module-based sections.
Mar. 2000 Closed its Bewako Plant and integrated exhaust products manufacturing sites at its Gunma Plant. Also reduced no. of production line from 4 to 2.
Apr. 2000 Renamed as Calsonic Kansei after the merger with Kansei Corp.
Mar. 2001 Established Calsonickansei North America in the U.S. as its North American headquarters, and Calsonic Mexicana S.A.de C.V. in Mexico as its Mexican headquarters.
Apr. 2001 Established a wholly-owned subsidiary, Calsonic Kansei (Thailand) Co., Ltd. in Thailand.
Jul. 2002 Handed over a portion of its wire harness business operations.
Jul. 2002 The Kyushu Plant was first acquired by an existing company, Calsonic Oita Co., Ltd., which was then spun off and adopted the name CKK Corporation.
Jul. 2002 Established Calsonic Kansei (Wuxi) Corporation in China.
Jul. 2003 Established a joint venture, Calsonic Compressor in (Narashino City, Chiba Prefecture), with Seiko Instruments Inc.
Oct. 2003 Spun off its Nihonmatsu plant and established CFK Corporation.
May 2004 Made Tokyo Radiator MFG Co., Ltd. as its consolidated subsidiary by purchasing Tokyo Radiator's new shares allocated to a third party and increasing the shareholding ratio to 40.7%.
Jan. 2005 Became Nissan Motor's consolidated subsidiary as Nissan purchased the Company's new shares allocated to a third party and increased the shareholding ratio to 41.9%.
Jul. 2005 Established Calsonic Kansei (China) Holding Company in Shanghai as the group's headquarters in China.
Apr. 2006 Calsonic North America, Inc. and Kantus Corporation merged, becoming Calsonic North America, Inc., the surviving entity.
Jun. 2006 Established Calsonic Kansei Romania S.R.L. in Romania.
Jan. 2007 Kantus Mexicana, Calsonic Mexico, and Calsonic Kansei Mexicana merged, becoming Calsonic Kansei Mexicana, S.A. de C.V.
Apr. 2007 Calsonic Kansei North America, Inc. and Calsonic North America, Inc. merged, becoming Calsonic Kansei North America, Inc.
May. 2007 Constructed a new headquarters and a research and development center in Saitama City, Saitama prefecture and moved its headquarters and consolidated development and design departments there.
Jul. 2007 Acquired additional shares of Magna Kansei Limited, making it a subsidiary of which its results are included in the Company's consolidated financial statements. The company is currently called Calsonic Kansei Sunderland Limited.
Dec. 2007 Merged Calsonic Compressor Inc.
Sept. 2010 Ceased production at the Tochigi Plant.
May. 2012 Established Calsonic Kansei do Brasil Industria e Comercio Ltda. in Brazil.
May. 2012 Established Calsonic Kansei RUS LLC in Russia.
Dec. 2013 Acquired additional shares in Siam Calsonic Co., Ltd. in Thailand. (This company is included in the Company’s consolidated financial statements.)
May. 2019 Acquired Magneti Marelli from FCA for EUR 5.8 billion.
Oct. 2019 Calsonic Kansei's corporate name was changed to "Marelli".
Nov. 2019 Tokaido Plant in Okazaki, Aichi Prefecture becomes first, new production plant to be built in Japan in 20 years.
Feb. 2021 Established Highly Marelli Holdings Co., Ltd., a joint venture with Highly International (Hong Kong) Limited.
Mar. 2022 Filed a turnaround ADR to reorganize business operations.
Jun. 2022 Changed from ADR proceeding to simplified rehabilitation proceeding to reorganize business operations.
Jul. 2022 Started a simplified civil rehabilitation proceeding to reorganize business operations.
Aug. 2022 Confirmed approval of business revitalization plan by Tokyo district court

Supplemental Information 1