Press Kogyo Co., Ltd.

Company Profile

■URL

http://www.presskogyo.co.jp/en/

■Address

1-1-1 Shiohama, Kawasaki-ku, Kawasaki-shi, Kanagawa Pref., 210-8512 Japan

Business Overview

-Mainly manufactures and sells automotive components (cross members, frame assemblies, brackets, etc.), finished vehicles, automotive stamping dies and assembly devices, and construction machinery components.

-The Company conducts its business in two operating segments: the Automobile-Related Business; and the Construction Machinery Business.

Financial Highlights

-The Company’s financial results for the fiscal year that ended in March 2018 are as follows.
Consolidated sales: JPY 220,661 million (4.0% increase year-over-year)
Operating income: JPY 13,800 million (20.0% increase year-over-year)
Ordinary income: JPY 13,661 million (19.4% increase year-over-year)
Current net profit attributable to the parent-company’s shareholders: JPY 7,567 million (29.5% increase year-over-year).

Sales generated by the automotive business account for 81.2% of total sales.

Recent Developments
-The Company will start reorganizing its North American operations. It primarily manufactures panel parts like pillars for Nissan Motor Co., Ltd. and axles and other core parts for OEMs such as Toyota Motor Corporation and General Motors Company at its three plants in North America. The panel parts and core parts are currently produced at a ratio of 1 to 1. However, Press Kogyo will shift to a production system that focuses more on core parts in which its strengths lie. The supplier will center on the business of high-value-added axles to improve its profitability and increase the number of customers. (From an article in the Nikkan Jidosha Shimbun on July 24, 2019)

-The Company will accelerate capital investment to promote the introduction of automation and IoT technologies at its plants under its new midterm management plan covering the period until fiscal year 2023 (ended in March 2024). It will continue an annual capital investment of JPY 10 billion. In FY 2019, the first year of the management plan, Press Kogyo will promote the use of IoT technologies at the Utsunomiya Plant, its main plant in the Kanto Region, and improve the efficiency of physical distribution between its Fujisawa Plant and Saitama Plant. At the same time, it will retool production lines at its plants in and outside Japan and integrate the offices of its affiliate companies. Up to now, Press Kogyo has emphasized the improvement of productivity through the production line at each plant. It will improve communications between the plants over the next five years to create a smooth flow of materials including physical distribution. (From an article in the Nikkan Jidosha Shimbun on May 13, 2019)

Shareholders

-Listed on the first section of the Tokyo Stock Exchange. (As of Mar. 31, 2019)
Name or Company Name Investment Ratio (%)
Isuzu Motors Ltd. 9.24
The Master Trust Bank of Japan, Ltd. (Trust account) 5.38
Japan Trustee Services Bank Ltd. (Trust account) 4.32
NIPPON STEEL & SUMIKIN BUSSAN CORPORATION 4.29
Japan Trustee Services Bank Ltd. (Trust account 9) 3.79
NORTHERN TRUST CO. (AVFC)RE NVI01 3.70
STATE STREET BANK AND TRUST COMPANY 505019 3.13
STATE STREET LONDON CARE OF STATE STREET BANK AND TRUST, BOSTON SSBTC A/C UK LONDON BRANCH CLIENTS- UNITED KINGDOM 2.92
DFA INTL SMALL CAP VALUE PORTFOLIO 2.46
NORTHERN TRUST CO. (AVFC) RE IEDU UCITS CLIENTS NON LENDING 15 PCT TREATY ACCOUNT 2.43
Total 41.66

Products

Chassis frames
Rivet type frames for heavy-duty trucks
Rivet type frames for light trucks
Weld type frames for pickup trucks

Axle modules
Front axles
-Front axle units for medium- heavy-duty trucks
-Final drive units
-Rigid type front axle units

Rear dead axles
-Dead axle units for medium and heavy-duty trucks

Rear drive axles
-Rear axle housings for heavy-duty trucks
-Rear axle units for heavy-duty trucks
-Rear axle units for medium-duty trucks
-Rear axle units for pickup trucks
-Rear axle housings for light trucks
-Axle tube units

Suspensions
Front axle units (front independent suspension type)
Front suspension cross member assemblies

Under-run protectors (RUPs)
Front under-run protectors for light, medium and heavy-duty trucks
Rear under-run protectors for medium and heavy-duty trucks

Plastic Parts
Cab rear covers
Side covers
Transmission covers
Under covers
Air cleaner brackets
Urea water tank brackets
Battery trays
Front tyre splash
Rear steps

Other automotive parts
Front bumpers
Axle shafts (after machining)
Front knuckle spindles
ABS sensor rings
Instrument panel cores
Cowl top panels
Front pillar inner
Door beams
Ladder frames

History

Feb. 1925 Established "Press Works," a limited partnership, in Ohi, Shinagawa-ku, Tokyo.
Started stamping of train components and construction materials.
May 1929 Started production of frames. Entered into automotive components segment.
Jun. 1933 Started production of rear axle housing.
Jun. 1934 Incorporated the company and renamed it "Press Kogyo Co., Ltd" with capital of 0.5 million yen.
Dec. 1937 Moved headquarters and plant to Kawasaki.
Apr. 1939 Opened Press Kogyo School for Youth (renamed Press Technical College in 1970).
Jan. 1953 Succeeded in producing Japan's first stamped large-sized rear axle housing.
Feb. 1954 Went public on the Tokyo over-the-counter market (50 million yen capital).
Aug. 1961 Listed on the first section of the Tokyo Stock Exchange (800 million capital).
Oct. 1961 Listed on the first section of the Osaka Stock Exchange (800 million capital).
Jul. 1988 Established a joint venture, PK USA, Inc. (currently a consolidated subsidiary) in the USA..
Dec. 1995 Invested in Thai Summit PKK Co., Ltd.
Mar. 1997 Started PDI service for General Motors Japan's Saturn.
Mar. 1997 Invested in Thai Summit PKK Bangna Co., Ltd.
Apr. 1997 Invested in and established Blue River Stamping, Inc. as a subsidiary to PK USA, Inc.
Aug. 1999 Moved functions of the Tochigi Works to the Utsunomiya Plant
Aug. 2001 Invested in Bankin Kogyo (currently an affiliate).
Mar. 2002 Invested in Thai Summit PKK Engineering Co., Ltd.
Jul. 2004 Established a joint venture, PM Cabin Manufacturing Co., Ltd. , a consolidated subsidiary
Jul. 2004 Established Metal Techno, a consolidated subsidiary.
Feb. 2005 Increased share capital through a public offer of new shares at market value. This amounted to 3,624 million yen.
Mar. 2005 Increased capital under a third-party allocation of new shares amounting to 543.6 million yen.
Apr. 2005 Merged temporality with Press Kogyo Saitama Mfg. Co. Ltd., located in Kawagoe-shi, Saitama; which started its operations as the Saitama plant.
Sep. 2005 Established Press Kogyo Co., Ltd. in Thailand.
Nov. 2005 Established PK-UD Axle Co., Ltd., a joint-venture in Hangzhou in China, which is currently an unconsolidated subsidiary.
Dec. 2005 Thai Sumit PKK Co., Ltd. acquired Siam Auto Manufacturing.
Jun. 2006 Obtained additional shares in Thai Summit PKK Co., Ltd.; Thai Summit PKK Bangna Co., Ltd.; Thai Summit Engineering PKK Co., Ltd.; and Siam Auto Manufacturing Co., Ltd., making them its consolidated subsidiaries.
Dec. 2006 PP Press & Platgruppen AB was reorganized into Press & Plat N.V., and Press & Plat Industri AB.
May 2007 Acquired additional shares of Press & Plat N.V. and Press & Plat Industri AB, making them consolidated subsidiaries.
Nov. 2008 Established a joint-venture company, Thai Summit PK Corporation Ltd. in Thailand with the aim of integrating all of its existing joint-venture units in Thailand in the future. This joint venture is now a consolidated subsidiary.
Jan. 2010 Established Ocean Stream (Thailand) Co., Ltd. in Thailand.
Oct. 2010 Established PK Manufacturing (Suzhou) Co., Ltd. in Suzhou, China.
Aug. 2011 Established PT.PK Manufacturing Indonesia.
Feb. 2012 Established Press Kogyo Mini Cabin (Suzhou) Co.,, Ltd. in Suzhou, China.

Supplemental Information 1