TACHI-S Co., Ltd.

Company Profile

■URL

http://www.tachi-s.co.jp/en/

■Address

3-3-7, Matsubara-cho, Akishima-shi, Tokyo, 196-8611 Japan

Business Overview

-A leading seat manufacturer.

-The Company has targeted achieving an operating profit margin of 7% and a global market share of 7%, according to its mid-term management plan from 2016 to 2020, “Global Teamwork 2020”. Strengthening the Company’s global competitiveness is one of the main objectives outlined in the plan. In line with this, the Company formed a business alliance with Toyota Boshoku Corporation, which included Toyota Boshoku’s acquisition of 4.17% of the stock shares in Tachi-S in May 2017. On the other hand, in January 2018 Tachi-S acquired 0.7% of the stock shares in Toyota Boshoku. This business alliance will enable the two companies to supply each other with existing parts such as seat frames, consider jointly developing new parts, and share the use of each other’s production facilities and equipment.

Shareholders

-Listed on the first section of the Tokyo Stock Exchange. (As of Mar. 31, 2018)
Name or company name Investment ratio (%)
Japan Trustee Services Bank Ltd. (Trust Account) 5.41
Toyota Boshoku Corporation 4.29
State Street Bank and Trust Company 505223 3.12
Individual shareholder 2.95
The Master Trust Bank of Japan, Ltd. (Trust Account) 2.70
Kasai Kogyo Co., Ltd. 2.56
Customer share holding commission 2.39
JP MORGAN CHASE BANK 380621 2.31
State Street Bank and Trust Company 505103 2.12
Sumitomo Mitsui Banking Corporation 2.12
Total 29.97

Products

Seats

History

Apr. 1954 Established Tachikawa Spring Ltd. in Tachikawa, Tokyo due to an organizational change to strengthen business foundation. This was a move to cope with the business expansion of Tachikawa Spring Works, a manufacturer and seller of precision springs and automotive seat components.
Sep. 1959 Transferred headquarters and plant to Akishimashi, Tokyo, the current location.
Apr. 1961 Spun off the precision spring division and established it as an independent company, Tachikawa Hatsujo (currently a consolidated subsidiary).
Apr. 1969 Established Ome City Plant in Omeshi, Tokyo.
Jun. 1969 Established Nihon Premaflex (currently Tachis Parts, a consolidated subsidiary) in Ome City, Tokyo.
Jan. 1973 Established Kyoritsu Welder (now transferred to Iruma-Shi, Saitama Pref.) in Shinagawa-ku, Tokyo.
Mar. 1973 Nissan Motors, Hino Motors, and Mitsubishi Motors bought into the Company.
Feb. 1976 Established Kinryo Kogyo (merged with Ikeda Bussan; currently a consolidated subsidiary) in Toyotsu-machi, Miyako-gun, Fukuoka Pref.
Jun. 1976 Established Osaka Branch (currently the Osaka sales office) in Nishi Yodogawa Ward, Osaka.
Aug. 1976 Established Tachikawa Kogyo in Omori-machi, Hiraka-gun, Akita Pref.
Oct. 1976 Bought into Fujiko Kogyo in Nagoya, Aichi Pref.
Apr. 1977 Established Aichi Plant in Anjou, Aichi Pref.
Sep. 1978 Acquired Nagoya Interior Ltd.
Jan. 1980 Established Musashi Plant in Iruma, Saitama Pref.
Feb. 1982 Established Tochigi Plant in Tochigi Pref.
Jun. 1982 Established Hiratsuka Plant in Hiratsuka, Kanagawa Pref.
Jun. 1983 Established Suzuka Plant in Mie Pref.
Sep. 1985 Established Hiratsuka No.1 Plant (currently Hiratsuka Plant).
Apr. 1986 Changed Company name to Tachis Co. Ltd.
Jun. 1986 Established Tachis Engineering USA, Inc. in Michigan, USA (currently a consolidated subsidiary).
Nov. 1986 Established Techno Trim Inc. (currently an affiliate) in Michigan, USA as a joint venture with Johnson Controls Inc.
Dec. 1986 Listed on the Second Section of the Tokyo Stock Exchange.
Sep. 1987 Established Seatechs Inc. in Ohio, USA (currently a consolidated subsidiary) as a joint venture with Johnson Controls.
Jan. 1989 Acquired Fujiko Kogyo Ltd.
May 1990 Established Hyperion Inc. (currently Hyperion Seating) in Tennessee, USA as a joint venture with Johnson Controls.
Mar. 1991 Established the Suzuka No. 2 Plant (currently the Suzuka Plant) in Suzuka City, Mie Prefecture.
Apr. 1991 Established Industrialde Asient Superial S. A. de C. V. (currently a consolidated subsidiary) in Aguascalientes, Mexico, as a joint venture with Mexico Nissan.
Mar. 1993 Established and concentrated the R&D division at the Tachis Technology Center in Ome City, Tokyo.
Aug. 1993 Shut down the Hiratsuka No. 2 Plant and integrated it into the No.1 Plant (currently the Hiratsuka Plant).
Mar. 1994 Shut down the Suzuka No.1 Plant and integrated it into the No. 2 Plant (currently the Suzuka plant) and the Aichi Plant.
Apr. 1995 Jointly with Shanghai Vehicle Awning & Cushioned Seat Factory, established Shaihai Taiye Auto Seat Co., Ltd. in Shanghai, China.
Aug. 1998 Opened Tachis Engineering Center Aichi in Anjo City, Aichi Pref.
Dissolved the capital tie-up with Nissan Motor, and formed a capital tie-up with Fuji Kiko (currently one of affiliates).
Jan. 2000 Established Thing Tech NC. in North Carolina, U.S.A.
Feb. 2000 Announced that the Company would close its Honsha Plant within a 2-year target period and instead, increase production volume at facilities in the U.S. and Mexico .
Mar. 2000 Tachis and Fuji Kiko, following capital and business tie-up agreements, started to supply jointly-developed seats to domestic car manufacturers, reducing cost and weight by 10% from the level of existing products.
Jun. 2000 Established a new car seat plant in Yokosuka City, responding to Nissan's production transfer to its Oppama Plant. The new plant will supply car seats for 12,000 units monthly.
Aug. 2000 Set up Oppama Plant in Yokosuka City, Kanagawa Pref.
Jan. 2001 Established a new seat cover sewing plant in Aguascalientes in central Mexico. As a result, production volume in Mexico accounted for 75% of the total output of North, Central, and South America.
Feb. 2001 Jointly with Xi'an Qinchuan Auto, established a seat manufacturing company in Xi'an City, China. The two parties invested capital of 47.5% each. Asahi Trading invested the remaining 5%. It was the Company's second production site in China. Expected output is 10,000 units for the first year, and 50,000 units eventually.
Mar. 2001 Opened Shanghai Office in Shanghai, China.
Mar. 2001 -Thing Tech, TachiS's American subsidiary, announced that it would start commercial production of school bus seats based on the completely synchronized production system" to supply to Thomas Built Buses, Inc, a major school bus manufacturer in the U.S., expecting to become its only supplier by 2001.
-Announced that the Company would establish a car seat parts manufacturing plant on a site adjacent to the Hiratsuka Plant, setting up an integrated production system in Hiratsuka.
May, 2002 Transferred the headquarters site.
Jun. 2002 Established Kanazawa office in Matto city, Ishikawa Pref.
Closed down the headquarters plant.
Dec. 2002 Dissolved capital alliance with Mitsubishi Motors.
Feb. 2003 Established Tachi-S Taicang Co., Ltd in Taicang, Jiangsu Province, China
Mar. 2003 Listed on the first section of the Tokyo Stock Exchange.
Aug. 2003 Sold its shares in Shanghai Taiye Seat Co., Ltd. to its joint-venture partner.
Mar. 2004 Established Fuji Autotech U.S.A. LLC, which is a joint venture with Fujikiko USA in Kentucky, U.S.A.
Apr. 2004 Established TS Design Co., Ltd. in Ome-city, Tokyo (currently a non-consolidated subsidiary).
Sep. 2004 Established Tachi-S Canada Ltd. in Nova Scotia, Canada (currently a consolidated subsidiary).
Sep. 2004 Established Setex Canada GP (a joint venture with Johnson Controls Inc.) in Ontario, Canada (currently a consolidated subsidiary).
Oct. 2004 Established Tachi-S Engineering Europe S.A.R.L in Velizy-Villacoublay, France (a non-consolidated subsidiary).
Nov. 2004 Established Tacle Guangzhou Automotive Seat Co., Ltd. (a joint venture with Dongfeng Lear Automotive Seat Co. and Hsin Chong International Investment Co.) in Guangzhou, Guangdong, China (currently a non-consolidated subsidiary).
Jan. 2005 Established Fuji Autotech Guangzhou Co., Ltd. (a joint venture with Fuji Kiko Co., Ltd. and Shanghai Min Fang Auto Parts Co., Ltd.) in Guangzhou, Guangdong, China (currently a non-consolidated subsidiary).
Sep. 2005 Established Tacle Seating UK Limited (a joint-venture with Lear Luxembourg S.A.R.L.) in Tyne and Wear, U.K.; which is currently a consolidated subsidiary.
Dec. 2005 Established Tacle Seating U.S.A. LLC (a joint-venture with Lear Operations Corporation) in Tennessee, U.S.A; which is currently a consolidated subsidiary.
Jul. 2006 Established Nui Tec Corporation, a controlling company of the Company's sewing businesses. (Currently it is one of the Company's consolidated subsidiaries.)
Nov. 2006 Formed a business tie-up with Kasai Kogyo Co., Ltd.
May, 2007 Nui Tec Corporation (currently a consolidated subsidiary) merged with Tachikawa Kogyo and Fujiko Kogyo.
Dec. 2008 Closed Oppama plant.
May, 2010 Formed commercial alliance with Johnson Controls Inc.
Jun. 2010 Invested in Johnson Controls Inc., making a capital tie-up.
Sep. 2011 Established TACHI-S (Thailand) Co., Ltd. (current consolidated subsidiary) in Bangkok, Thailand.
Established PT.TACHI-S Indonesia (current consolidated subsidiary) in Karawang, Indonesia.
Apr. 2012 Established a Technology and Product-creation Center in Ome City, Japan.
May 2012 Established Tachi-S Engineering Latin America, S.A. de C.V. in Aguascalientes, Mexico; which is currently a consolidated subsidiary
Aug. 2012 Closed the TACHI-S Technical Center.
Sep. 2012 Established Setex Automotive Mexico S.A. de C.V. in Guanajuato, Mexico; which is currently a consolidated subsidiary.
Jul. 2013 Established TACHI-S Lear DFM Automotive Seating (Xiangyang) Co. Ltd. (current consolidated subsidiary) in Xiangyang, Hubei, China.
Oct. 2013 Established TACHI-S Trim Wuhan Co., Ltd. (current consolidated subsidiary) in Wuhan, China.
Apr. 2014 Turned TACLE Seating U.S.A. LLC and TACLE Seating Thailand Co., Ltd. into wholly owned subsidiaries, changing their names to TACHI-S Automotive Seating U.S.A. LLC and TACHI-S Automotive Seating (Thailand) Co., Ltd., respectively.
Mar. 2016 Turned Tachikawa Hatsujou Co., Ltd. into a wholly owned subsidiary.
Mar. 2017 Formed commercial alliance with Toyota Boshoku

Supplemental Information 1