PIOLAX, INC.

Company Profile

■URL

https://www.piolax.co.jp/en/

■Address

7F, Yokohama Hanasaki Building, 6-145 Hanasakicho Nishi-ku, Yokohama-shi, Kanagawa-ken 220-0022, Japan

Business Overview

-A major manufacturer of precision automotive springs and industrial-use fasteners. Automotive products account for 95% of sales.

-The Company signed a comprehensive commercial agreement with Saga Iron Works, a major manufacturer of automotive bolts, in order to create a cooperative, global partnership.

-Has the world’s largest market share of air-dampers that smoothly open/close glove compartments and Japan’s largest market share of latches used in glove boxes, etc., according to the Company’s own research.

Financial Highlight

-FY ending Mar. 2024, consolidated sales JPY 64,551 million (10.5% increase), operating income JPY 4,756 million (20.4% increase), ordinary income JPY 5,650 million (16.1% increase), net profit JPY 4,013 million (18.9% increase).

Shareholders

-Listed on the Prime Market of the Tokyo Stock Exchange.

(As of Mar. 31, 2024)

Name or Company Name	Investment Ratio (%)
Saga Tekkohsho Co., Ltd.	17.06
The Master Trust Bank of Japan, Ltd. (Trust Account)	14.17
Custody Bank of Japan, Ltd. (Trust Account)	7.80
Individual shareholder	3.10
CEPLUX－THE INDEPENDENT UCITS PLATFORM 2 (Standing proxy: Citibank, N.A., Tokyo Branch)	2.48
Customers stockholding	2.19
Hatsuki LLC	1.86
STATE STREET BANK AND TRUST COMPANY 505001 (Standing proxy Mizuho Bank, Ltd. Sales of Yen Settlements Department)	1.83
Mizuho Bank, Ltd.	1.69
MSIP CLIENT SECURITIES (Standing proxy: Morgan Stanley MUFG Securities Co., Ltd.)	1.42
Total	53.64

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Products

Fuel System Parts
-Fuel cut off valve
-Valve for filler neck
-Fuel check valve
-Resin molded part for module
-Resin tube ASSY part
-Small welded part made of HDPE
-Small mesh filter
-Quick connector
-Evapo tube assemblies

Powertrain System Parts
-Compression springs
-Tension Torsion Spring
-Wire form
-Snap rings
-Disc springs & Flat springs
-Piston Return
-Drive system resin parts

Open-close Mechanisms Parts
-Latch
-Air dampers
-Cushion with spring
-Torque hinge

Fasteners
-Button Clip
-Trim clips
-2-piece clips
-Piping clips
-Screw grommets
-Garnish clips
-Plugs
-Hooks

Harness Parts
-Cable Tie
-Clip

Precision Parts
-Support-Head Rest
-Cover-Mirror Harn
-Wheel-cap retainers
-Tension/torsion coil springs
-Sun visor parts
-Luggage board handles

Clamp Parts
-Plate clamps
-Holderless clamp
-Screw clamps

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History

Sep. 1939	Established as Kato Hatsujo Inc.
Jun. 1957	Established the Yokohama Plant in Hodogaya, Yokohama
Oct. 1964	Established the Totsuka Plant in Totsuka, Yokohama
Oct. 1970	Established the Mooka Plant in the First Industrial Park in Maoka, Tochigi
Oct. 1973	Established K.P. Products Inc. in Hodogaya, Yokohama, as a joint venture with Peterson American Corporation, a spring manufacturer in the U.S. Started production of automatic transmission rings.
May, 1995	Increased capital of (USA) Piolax Corporation to USD 6 million
Aug. 1995	Established a subsidiary, Piolax Limited in Lancashire, England
Oct. 1995	Changed the name of the company to Piolax Corporation
Jun. 1996	Established Piolax Corporation in Seoul, Korea with Samyung Trading Co., Ltd. in Korea (moved to Icheon-si in April 1997)
Sep. 1996	(Korea) Piolax Corporation increased capital by 0.3 billion won to 0.4 billion won
Dec. 1996	(Korea) Piolax Corporation increased capital by 1.5 billion won to 1.9 billion won
May, 1997	(USA) Piolax Corporation obtained QS9000
Jun. 1997	(England) Piolax Limited increased capital to 33 million pounds
Feb. 1998	(Korea) Piolax Corporation increased capital by 1 billion won to 2.9 billion won
Oct. 1998	Established the Fuji Plant in Anbara, Shizuoka. Moved the Totsuka Kogyo operation to and also started the Fuji Branch in the same location (added second plant in March 2000)
Apr. 1999	Established STK Inc. by combining three subsidiaries, Totsuka Kasei, Hodogaya Hatsujo and STK
Jun. 1999	(England) Piolax Limited increased capital to 4.05 million pounds
Oct. 1999	Established PMT Inc. in Hodogaya, Yokohama
Jan. 2000	Piolax merged K.P. Products Inc.
Mar. 2000	Piolax Limited formed New Plant and transfer in Lancashire, England
Jul. 2000	Obtained ISO9001, an international quality assurance certification.
Apr. 2002	Increased the capital of Piolax Corporation located in the USA to 1,201 million US dollars.
May 2002	S.T.K Co., Ltd. changed its name to Piolax HFS, Ltd.
Oct. 2002	Established Piolax OC Systems in Hodogaya-ku, Yokohama City, Kanagawa Pref.
Jan. 2003	Reorganized KHK of UK Ltd. as a sales company by adding a sales function, and changing the company name to Piolax Ltd.
Jan. 2003	Reorganized the existing Piolax Ltd into a manufacturing company, changing the company name to Piolax Manufacturing Ltd.
Jan. 2003	Expanded the capital of Piolax (Thailand) Ltd. in Thailand to 250 million Baht.
May, 2003	Increased the capital of Piolax (Thailand) Ltd. to 300 million Baht.
Aug. 2003	Established Dongguan Piolax in Guangdong prov., China together with two Taiwanese companies.
Sep. 2003	Established a representative office in France.
Sep. 2004	Listed on the First Section of the Tokyo Stock Exchange.
Aug. 2005	Established PNS in Hodogaya-ku, Yokohama City, Kanagawa Prefecture.
Aug. 2005	Increased it share capital in Dongguan Piolax Co., Ltd. to US$3.6 million.
Oct. 2005	Merged Piolax OC Systems into Piolax.
Jan. 2007	The Company acquired all the shares in Sankyo Hatsujo Co., Ltd., which was its affiliate under the equity method.
Mar. 2007	Dongguan Piolax Co., Ltd. increased its capital to 7.1 million US dollars.
Apr. 2007	N.S Co., Ltd. absorbed Sankyo Hatsujo Co., Ltd.
May, 2007	Dongguan Piolax Co., Ltd. built a new plant in Dongguan, Guangdong Province, China, and transferred its headquarters there.
Oct. 2007	Established Piolax Kyusyu Co., Ltd. in Iizuka City, Fukuoka Prefecture.
Apr. 2009	Canceled the merger agreement with San Long Industrial Co., Ltd. in Taiwan.
Apr. 2009	Increased the capital of Dongguan Piolax Co., Ltd. in China to 19.10 million US dollars.
Dec. 2009	Established Piolax India Private Ltd. in Chennai, India.
Dec. 2009	Piolax Ltd. (U.K.) merged with Piolax Manufacturing Ltd. (U.K.)
Jul. 2010	Established Piolax Mexicana, S.A. de C.V. in Apodaca, Mexico
Jul. 2012	Established PT. Piolax Indonesia in West Java, Indonesia.
Aug. 2012	Established Wuhan Piolax Co., Ltd. in Hubei Province, China, through a joint-investment project with Dongguan Piolax Co., Ltd.
Sep. 2014	Piolax Co., Ltd. in Korea has established a new production and development base in the Incheon Free Economic Zone, and moved to the location.
Oct. 2016	Based on a short-form merger, absorbed the operations of Psteam Co., Ltd.
Jan. 2019	Established Shanghai Piolax Co., Ltd. in Shanghai.
Apr. 2022	Relocated the home office from Yokohama’s Hodogaya Ward to Nishi Ward.
Apr. 2022	Moved from the First Section of the Tokyo Stock Exchange to the Prime Market.