Chuo Spring Co., Ltd.

Company Profile

■URL

http://www.chkk.co.jp/english.html

■Address

68 Kamishiota, Naruumi-cho, Midori-ku, Nagoya-shi, Aichi 458-8505, Japan

Business Overview

-A major manufacturer of automotive springs.
-A Toyota Group company.

Financial Highlights

-In FY ended March 2016, consolidated sales were JPY 83,540 million (a 2.3% decrease on a year-over-year (y/y) basis), operating income was JPY 1,509 million (a 23.3% increase y/y), ordinary income was JPY 1,267 million (a 47.0% decrease y/y), and net income attributable to owners of the parent was JPY 433 million (a 73.2% decrease y/y).

Topics

  • China: The Company will change its wholly-owned subsidiary in Hubei, China, which is engaged in production, export, and import of automotive springs in China, into a joint venture with a Chinese subsidiary of Taiwan's Lioho Machine Works Group. The joint venture will allow Chuo Spring to utilize Lioho Group's sales network in China and facilitate the spring manufacturer's sales expansion.
  • Thailand: The Company announced that it will sign a technical cooperation agreement with Bangkok Spring Industrial Co., Ltd. (BSK), a subsidiary of Somboon Advance Technology of Thailand. Under the agreement, Chuo Spring will provide BSK with its technologies to develop and manufacture suspension parts for automobiles and transportation equipment, including coil springs, stabilizer bars, and leaf springs.



Shareholders

-Listed on the first section of Tokyo Stock Exchange and Nagoya Stock Exchange. (As of Mar. 31, 2016)
Name or Company name Investment ratio (%)
Toyota Motor Corporation 24.11
Aichi Steel Corporation 7.49
The Bank of Tokyo-Mitsubishi UFJ, Ltd. 4.83
Sumitomo Mitsui Banking Corp. 4.77
Customer share holding commission 4.25
Tokio Marine and Nichido Fire Insurance Co., Ltd. 3.55
The Dai-ichi Life Insurance Company, Limited 2.67
Aioi Nissay Dowa Insurance Co., Ltd 2.05
Japan Trustee Services Bank, Ltd. (Trust Account) 1.98
Chuo Spring Co., Ltd. 1.91
Total 57.66

Products

Suspension springs
-Coil springs
-Stabilizers
-Leaf springs
-Torsion bars

Precision springs
-Valve springs
-Ark springs
-Tension springs
-Torsion springs for variable mufflers
-Flat springs
-Spring clamps
-Spiral springs
-Disc springs for HV unit
-Springs for CVT unit

Control cables
-Parking brake cables
-Transmission cables
-Bonnet cables
-Fuel-lid cables
-Luggage cables
-Power slide cables
-Door lock cables
-Lock release cables
-Emergency brake release cables

History

Mar. 1925 Started manufacturing steel springs in Tsukimi Town, Naka District, Nagoya, as Chuo Spring Manufacturing.
Jan. 1931 Relocated Nagoya Plant to Ganmichi Town, Minami District, Nagoya, and founded Chuo Spring Seisakusho Co., Ltd.
Oct. 1931 Started manufacturing valve springs for aircraft engines and machine guns and large springs for automobiles.
Apr. 1936 Name changed to Chuo Spring Co., Ltd.
Dec. 1948 In line with the adjustment plan based on the Industrial Readjustment Act, established a second company, New Chuo Spring Co., Ltd., 
Headquartered in Narumi and dissolved the original company.
Mar. 1954 Name changed to "Chuo Spring Co., Ltd."
Oct. 1961 Listed on the Second Section of the Nagoya Stock Exchange.
Apr. 1964 Opened Hekinan plant.
Oct. 1968 Opened Miyoshi plant.
Jun. 1977 Invested in Togo Cable Co., Ltd . and  merged it into the group as a subsidiary in June 1982.
Apr. 1982 Operated Miyoshi West plant.
Jan. 1985 Listed on the Second Section of the Tokyo Stock Exchange.
Feb. 1985 Invested in CEPLUS Co., Ltd. and merged it into the group as a subsidiary.
Sep. 1985 Established Technical Center in Miyoshi Town, Nishiamo District, Aichi Prefecture.
Mar. 1986 Invested in Chuhatsu Seiko Co., Ltd. and merged it into the group.
Sep. 1986 Listed on the First Section of the Tokyo Stock Exchange and Nagoya Stock Exchange.
Aug. 1987 Established Taiwan Chuhatsu Factory, Co., Ltd. in Taiwan, ROC (became a subsidiary in Aug, 1990).
Apr. 1988 Established CENTRAL SPRING, Inc. in U.S.A. as a subsidiary company.
Aug. 1988 Opened Fujoka plant.
Sep. 1989 Established a joint venture, Ack Controls Inc. in U.S.A. (a subsidiary since Jan, 1992).
Apr. 1990 Invested in P.T. Tri. Satria Utama in Indonesia.
Jun. 1996 Established Chu-O Thai Cable CO., LTD. (became a subsidiary in September 1997).
Jun. 1996 Established a subsidiary Gifu Chuhatsu Co.
Jun. 1997 ISO9001 certified for designing and developing automobile engine valve springs and knit mesh products. (Completed compliance in all divisions and plants by March 1998.)
Mar. 1999 Established a subsidiary, TC Springs Pvt. Ltd. in India. 
Mar. 1999

Fujioka plant ISO14001 certified.

Aug. 1999 Established a joint venture, Mubea Chuo SA in Germany.
Mar. 2000

QS9000 certified for chassis springs, precision springs and cables. 

Mar. 2000 Opened Fujioka experiment laboratory.
Mar. 2000 Established a subsidiary, Chuo Precision Spring Glasgow, INC. as the precision spring manufacturing division of Ack Controls, INC.  
Mar. 2000 Equity participation in EFC Chain Co., which became an affiliate. 
Sep. 2002 Established a subsidiary, Kun Shan Zhong Fa Liu He Machinery Co., Ltd. in China.
Sep. 2003 Established a subsidiary, Tianjin Chuhatsu Huaguan Machinery Co., Ltd., in China.
Oct. 2003 Established an affiliated company, Tianjin Chuhatsu Fawer Spring Co., Ltd., in China.
Mar. 2004 Established a subsidiary, Kunshan Chuho Spring Co., Ltd., in China.
Jun. 2005 Established Tianjin Zhongxing Automotive Components Co., Ltd., in China.
Apr. 2006 Invested in Fujioka-Chuhatsu Co. Ltd., making the company an affiliate.
Apr. 2007 Established Nagasaki-Chuhatsu Co., Ltd., a subsidiary in Nagasaki, Japan. 
Apr. 2007 Established Chuhatsu Techno Co., Ltd., a subsidiary.
Feb. 2012 Established a subsidiary, P.T. Chuhatsu Techno Indonesia in Indonesia.
Nov. 2013 Established a subsidiary, Xiaogan Zhongxing Automotive Components Co., Ltd. in China. (In April 2016, this subsidiary was converted into a joint-venture company and its corporate name was changed to Xiaogan Chuhatsu Lioho Automotive Components Co., Ltd.)
Dec. 2014 Liquidated a U.S.-based consolidated subsidiary, Central Spring, Inc.

Supplemental Information 1

Supplemental Information 2

Technology licensing-out Agreement

(As of Mar. 31, 2016)
Suppliers Country Contents of contract Date of Contract Contract period
Supreme Spring
(A Division of Metindustrial (Proprietary) Ltd.)
South Africa Chassis springs for automobiles and railway vehicles Mar. 31, 1984 Five years
(with provision for automatic extension)
Metal Textiles Corporation U.S. Knitted wire meshes Jun. 1, 1994 Five years
(with provision for automatic extension)
Dura Automotives Systems, Inc. U.S. Control cables Jun. 2, 1995 Ten years
(with provision for automatic extension)
Rozmas Celik Sanayi Ve Ticaret A.S. Turkey Automotive chassis springs Feb. 20, 2010 Until the project is terminated