Ichikoh Industries, Ltd.

Company Profile

■URL

https://www.ichikoh.com/en/

■Address

80 Itado, Isehara-shi, Kanagawa-ken, 259-1192, Japan

Business Overview

-The Company is a supplier of automotive lamps and mirrors.

-The Company conducts its business in three operating segments.

  • Automotive products: produces and sells lighting and mirror products for automakers
  • Other parts business: produces and sells automotive valves, wipers and other components mainly for the aftermarket
  • Other business: produces and sells automotive light bulbs

-Formed a strategic partnership with Valeo, a major parts supplier based in France in 2000. The Group have the second largest share of the global automotive lighting market. (According to the Company's survey)

Recent development

-The Company is increasing its share in the automotive rear lamp market in Japan.
-Its Mono LED, the world's first all-in-one standard LED light source, is used on an increasing number of vehicle models.
-The Company is developing electronic mirrors, aiming to put the technology into a practical solution.



Merged into Valeo Group
-The Company will establish a new division that will serve as an intermediary unit between the company and France-based Valeo Group, which is now the parent company of Ichikoh. The two companies are aiming to expand their business in Japan, while creating synergies in the area of product development by sharing business methods and workflows wherever possible. The new team will consist of members of Ichikoh and Valeo from various divisions, and work out new business strategies towards effective utilization of each company's resources. Their initiatives will include elimination of functional overlap and developing a closer partnership in order to become more competitive in the global market. (From an article in the Nikkan Jidosha Shimbun on February 20, 2017)

-Valeo has announced that 32,383,612 Ichikoh shares have been tendered to its offer, which ran from November 24, 2016 to January 12, 2017, at price of JPY 408 per share. On settlement of the transaction, scheduled for January 20, 2017, Valeo will hold 55.08% of Ichikoh's capital. Ichikoh will remain listed on the Tokyo Stock Exchange. Ichikoh will be fully consolidated by Valeo as from February 1, 2017. (From a press release on January 13, 2017)

Shareholders

-Listed on the First Section of the Tokyo Stock Exchange. (As of Mar. 31, 2017)
Name or Company Name Investment ratio (%)
Valeo Bayen 55.00
Toyota Motor Corp. 6.10
Mizuho Bank, Ltd. 4.96
Japan Trustee Services Bank, Ltd. 4.79
Daihatsu Motor Co., Ltd. 2.81
Nomura PB Nominees Limited Omnibus-Margin 1.12
Nippon Life Insurance Co. 1.08
Chase Manhattan Bank GTS Clients Account Escrow 0.96
Sankyo Co., LTD 0.96
The Master Trust Bank of Japan, Ltd. (Trust Account) 0.82
Total 78.64

-Valeo has announced that 32,383,612 Ichikoh shares have been tendered to its offer, which ran from November 24, 2016 to January 12, 2017, at price of JPY 408 per share. On settlement of the transaction, scheduled for January 20, 2017, Valeo will hold 55.08% of Ichikoh's capital. Ichikoh will remain listed on the Tokyo Stock Exchange. Ichikoh will be fully consolidated by Valeo as from February 1, 2017. (From a press release on January 13, 2017)

Products

Lamps
All-in-one standard LED light source - MonoLED

Front lamps

-LED headlamp systems

  • LED highbeams/low beams
  • LED position lamps
  • LED turn signal lamps

-AFS: Adaptive Frontlighting Systems

  • Bi-function HID projectors
  • LED bending lamps
  • LED daytime running lamps
  • Light-guide-clearance lamps
  • Forward stereo CCD

-Front turn signal lamps
-Fog lamps
-Headlamp cleaner

Rear lamps
-LED rear combination lamps

  • LED tail lamps
  • LED stop lamps
  • LED turn signal lamps
  • LED rear fog lamps

-ARS: Advanced Rearlighting Systems

  • Night Vision
  • Rearward stereo CCD

-High mount stop lamps

Other lamps
-Map lamps
-LED console lamps
-LED spot lamps
-Side flasher lamps
-License lamps
-Room lamps
-Indicator lamps

Mirrors
-Multi-functional side mirrors

  • Aspherical mirrors
  • LED side turn signal lamps
  • LED puddle lamps
  • Side blind detection systems
  • CCD cameras

-Outside mirrors
-Inside mirrors
-Auto-dimming room mirrors

Others
-Various types of automotive sealed beam electric bulbs
-Sealed beam electric bulbs for special use
-Wiper blades/arms; high speed blade, winter blades

History

Jun. 1903 Hakkosha started business as a manufacturer specializing in white wax oils, signal lamps, etc. Started to supply products to the Ministry of International Trade and Industry.
Apr. 1916 Ichikawa Seisakusyo started business as an automotive parts manufacturer.
Jun. 1934 Ichikawa Seisakusyo incorporated.
Dec. 1939 Hakkosha Co., Ltd. was established.
Jul. 1962 Ichikawa Seisakusyo built Isehara Plant in Isehara City, Kanagawa Pref.
May 1964 Hakkosha built Nakatsugawa Plant in Nakatsugawa City, Gunma Pref.
Jan. 1965 Ichikawa Seisakusyo built No.1 Fujioka Plant in Fujioka city, Gunma Pref.
May 1967 Hakkosha Industries and Ichikawa Manufacturing entered into a business partnership.
Oct. 1968 The two companies were merged into Ichikoh Industries, Ltd. with capitalization of 1.4 billion yen.
Apr. 1969 Built No.2 Fujioka Plant.
Aug. 1971 Listed on the First Section of the Tokyo Stock Exchange.
Nov. 1990 Established a subsidiary Ichikoh Malaysia SDN. BHD in Malaysia.
Mar. 1997 Established PT. Ichikoh Indonesia in the suburb of Jakarta, Indonesia.
Jan. 2000 Built a new plant for Kenkoh Industries in Taiwan.
Jul. 2000 Formed a comprehensive alliance with Valeo in the area of lighting devices.
Dec. 2000 Isehara Plant QS9000 certified.
2001 Developed jointly with Harrison Toshiba Lighting the world's first next-generation "mercury-free HID head lamp system." Commercialization is planned for 2003.
Jul. 2003 Established Wuxi Koh Sean Technology Co., Ltd. (China).
Mar. 2006 Established Foshan Ichikoh Valeo Auto Lighting Systems Co., Ltd. in China.
Dec. 2006 Established Ichikoh Mitsuba Inc. (IMIC) in Kentucky, USA
Feb. 2007 Dissolved Ichikoh Manufacturing, Inc. (IMI), its subsidiary in Kentucky, USA
Aug. 2008 Established Ichikoh Industries (Thailand) Co., Ltd., its subsidiary in Thailand
Sep. 2009 Closed the Nakatsugawa Plant as part of the initiatives to reorganize the production structure.
Dec. 2009 Closed the Oizumi Plant as part of the initiatives to reorganize the production structure.
Oct. 2010 Located home office to its currently location.
Aug. 2011 Liquidated Ichikoh Mitsuba, Inc., a subsidiary that was located in Kentucky, U.S.A.
Aug. 2012 Established Valeo Ichikoh Holding, Ltd. in Ireland.
Dec. 2012 Transferred all of its shareholdings in Foshan Ichikoh Valeo Auto Lighting Systems Co., Ltd. to Valeo Ichikoh Holding Ltd.
Acquired 15% of the shares that Valeo S.A. held in Hubei Valeo Auto Lighting Co., Ltd.
Dec. 2014 Acquired an additional 50% stake in Ichikoh (Wuxi) Automotive Parts Co., Ltd. and converted it into its wholly owned subsidiary.
Nov. 2015 Sold off some of the operations of the Customer Parts Sales Section of the Automotive After Market Department under the Sales Division.
Jan. 2017 Valeo Bayen turned the Company into a consolidated subsidiary as a result of Valeo’s buying up the Company’s shares in a public tender offer.

Supplemental Information 1