Formerly Keihin Corporation

Company Profile

■URL

https://www.hitachiastemo.com/en/

■Address

Shinjuku Nomura Bldg. 39F, 1-26-2 Nishi-Shinjuku, Shinjuku-ku, Tokyo, 163-0539 Japan

Business Overview

-The Company is engaged in various business segments such as control systems for electric vehicles, engine management systems for gasoline-powered vehicles, products for fuel-cell vehicles, engine-management systems for natural-gas vehicles, and air-conditioning systems. Although a part of the Honda Group, the Company won an order for gasoline-engine parts from Toyota in Thailand in June 2019. This product-order from Toyota, i.e., a non-Honda order, was one of the major targets outlined in its 13th mid-term management plan covering three years from April 2017 through March 2020.

-In October 2019, Hitachi Limited and Honda Motor announced that four of their parts-supplier subsidiaries will be merged into one company, which will be Hitachi Automotive Systems. The three Honda subsidiaries (Keihin, Showa, and Nissin Kogyo) will cease to be individual corporate entities. Hitachi Automotive Systems, the surviving company, will consist of Keihin’s powertrain business, Showa’s suspension and steering businesses, Nissin Kogyo’s brake systems business, and its own powertrain-system, chassis-system, and safety-system businesses. The company will take advantage of the synergy effects with Hitachi Limited’s Lumada solution that makes use of digital technology, in order to improve the connected field in terms of safety and mobility services.

-It was decided that there would be few if any synergy effects from the air-conditioning business with Hitachi Limited, so a basic memorandum of understanding was signed in March 2020 to sell the business to MAHLE Behr GmbH & Co. KG under the Mahle Group. The business covered under the agreement includes the air-conditioning businesses in Japan, Southeast Asia, and North America. A formal agreement is scheduled to be signed within the 2020 fiscal year. Also, a resolution was proposed and an agreement was signed to transfer all of the stock shares (55%) held in Keihin Grand Ocean Thermal Technology (Dalian) Co., Ltd. to Songz Automobile Air Conditioning Co, Ltd., although the transfer date has not been decided.

Shareholders

-Listed on the first section of the Tokyo Stock Exchange. (As of Jun. 12, 2020)
Name or Company Name Investment Ratio (%)
Honda Motor Co., Ltd. 41.35
J.P. MORGAN BANK LUXEMBOURG S.A. 1300000 5.65
The Master Trust Bank of Japan, Ltd. (Trust Account) 3.79
MUFG Bank, Ltd. 2.62
Japan Trustee Services Bank, Ltd. (Trust Account) 2.56
Mizuho Securities, Co., Ltd. 1.89
Japan Trustee Services Bank, Ltd. (Trust Account 9) 1.78
GOLDMAN,SACHS& CO.REG 1.63
DFA INTL SMALL CAP VALUE PORTFOLIO 1.54
Japan Trustee Services Bank, Ltd. (Trust Account 5) 1.27
Total 64.10

Products

Control Systems for Electric vehicles
-Power control-units
-Management systems
-Management electronic control-units

Engine-management Systems for Gasoline Vehicles
-Electronic control-units
-Injectors for injection-engines
-Injectors for port internal injection
-In-take manifolds
-EGR valves
-Electronic-controlled throttle bodies

Products for Fuel-cell Vehicles
-Electronic control-units for fuel-cell generator controls
-Electronic control-units for stack impedance measuring
-Battery-management systems for fuel-cell vehicles
-Injectors for hydrogen-fuel vehicles
-High-flow hydrogen supply valves
-High-flow hydrogen regulators
-Cathode pressure-control valve
-Drain valves
-Purge valve

Engine-management Systems for Natural Gas (NG) Vehicles
-2nd ECU
-Injectors for NG vehicles
-Oil-lamp filters
-Pressure regulators

Climate-control Systems
-HVAC
-Condensers
-Evaporators
-Cold-storage evaporators

History

Dec. 1956 Established with capital of 700 yen million in Kawasaki, Kanagawa Prefecture.
Mar. 1957 Following the establishment of a plant, received an order for automotive component machining and finishing from Komatsu
Dec. 1964 Listed on the Second Section of the Tokyo Stock Exchange.
Aug. 1969 Constructed a main plant for carburetor (Kakuda Plant) in Kakuda, Miyagi prefecture.
Feb. 1986 Moved headquarters to Shinjuku Ward, Tokyo.
Apr. 1990 Established R&D center in Kakuda, Miyagi Prefecture.
Sep. 1994 Listed on the First Section of the Tokyo Stock Exchange.
July 1997 Established Keihin Caroline System Technology Inc. in North Carolina, USA.
Feb. 1999 Established Keihin Aircon North America Inc. in Indiana, USA.
Jan. 2001 Refined corporate logo.
Jan. 2001 Moved the Sayama Plant.
Mar. 2001 Started plant construction in Brazil.
May 2001 Established a new company in North America.
Apr. 2001 Spun off the production related departments at Keihin Indiana Precision Technology Inc. and turned it into Keihin IPT Manufacturing Inc. (currently a local/Japanese consolidated subsidiary).
Feb. 2002 Spun off the air conditioning system department at Keihin Philippines Corporation and turned it into Keihin Autoparts (Philippines) Corporation (currently a local/Japanese consolidated subsidiary).
Mar. 2002 Established Dongguan Keihin Engine Management System Co., Ltd. in China, which is currently a consolidated subsidiary.
Oct. 2002 Established Keihin Canada Service Inc., which is currently a consolidated subsidiary in Canada.
Mar. 2003 Established Keihin R&D China Co., Ltd. in China, which is currently a consolidated subsidiary.
Nov. 2003 Established PT Keihin Indonesia, which is which is currently a consolidated subsidiary in Indonesia.
Apr. 2007 Established Keihin Michigan Manufacturing, LLC. in Michigan, USA (which is currently a consolidated subsidiary).
Apr. 2009 Established Tochigi Office in Takanezawa Town, Tochigi Pref., Japan.
Established Miyagi Office in Kakuda City, Miyagi Pref., Japan.
Dec. 2009 Established Keihin Asia Bangkok Co., Ltd. in Thailand.
Jan. 2011 Established Keihin Malaysia Manufacturing SDN. BHD. in Malaysia.
Apr. 2011 Merged Keihin Fuel Systems Inc. into Keihin North America Inc.
Jun. 2011 Established Keihin Vietnam Co., Ltd.
Jul. 2011 Established Keihin Automotive Systems India Pvt. Ltd.
Jan. 2012 Acquired the automotive climate-control heat-exchanger business from Showa Denko through a stock-transfer, so the following companies became subsidiaries: Keihin Thermal Technology; Keihin Thermal Technology of America, Inc.; Keihin Thermal Technology (Thailand) Co., Ltd.; Grand Ocean-Showa Auto Air Conditioning (Dalian) Co., Ltd.; and Keihin Thermal Technology Czech, s.r.o.
Feb. 2012 Established Keihin De Mexico S.A. De C.V.
Jan. 2013 Merged Keihin Sogyo Co., Ltd. into Kanazu Mfg. Co., Ltd. (the surviving company), renaming the company Keihin Sakura Corporation.
Jul, 2014 Established Keihin (Wuhan) Automotive Components Co., Ltd.
Apr. 2017 Merged Keihin Air Conditioner North America, Inc. with Keihin IPT Manufacturing, LLC.
Jun. 2017 Merged Keihin Automotive Systems India Private Ltd. with Keihin India Manufacturing Private Ltd.
Apr. 2018 Opened the Daiba R&D Office in Koto Ward, Tokyo
Oct. 2018 Keihin Watari Co., Ltd. (consolidated subsidiary) and Keihin Sakura Co., Ltd. merged operations and adopted the name Keihin Manufacturing Co, Ltd.
Oct. 2019 Keihin, Nissin Kogyo, and Showa were merged into Hitachi Automotive Systems, based on an agreement made by these four companies and their respective parent companies Hitachi Limited and Honda Motor Co.
Apr. 2020 Keihin IPT Mfg. and Keihin Carolina System Technology merged operations and in doing adopted a new company name Keihin US Mfg. LLC.

Supplemental Information 1