Yorozu Corp.

Company Profile

■URL

http://www.yorozu-corp.co.jp/en/

■Address

3-7-60 Tarumachi, Kohoku-ku, Yokohama-shi, Kanagawa 222-8560, Japan

Business Overview

-Manufactures automotive mechanical components, auto body components and engine components, dies and facilities.

-The Company will strengthen the development capabilities for suspensions - its core technology, and grow to become a “suspension system maker” engaged in the process from performance development to mass production of suspension parts and peripheral components as a unified system.

-Break down of sales in the major countries in the fiscal year that ended in March 2016 is as follows: USA: 32.6%, China: 21.1%, and Japan: 20.0%. Nissan accounted for 63.9% of sales, while Honda accounted for 21.8%.

-The Company announced its new, mid-term management plan called "Yorozu Spiral-up Plan 2017", under which the Company has set the following targets:

  • Sales: JPY 180 billion
  • Operating margin: 6%

The Company plans to increase business with European OEMs and increase production in the U.S. after building a new plant there.
>>>For more details, please see New Mid-Term Business Plan "Yorozu Spiral-up Plan 2017"

Shareholders

-Listed on the Tokyo Stock Exchange. (As of Mar. 31, 2016)
Name or Company name Investment Ratio (%)
Japan Trustee Services Bank, Ltd. (Trust Account) 12.18
BBH for Fidelity Puritan TR: Fidelity SR Intrinsic Opportunities Fund 6.69
Reno 4.58
Shido Holdings Co., Ltd. 3.53
JFE Steel Corporation 3.36
Mizuho Bank, Ltd. 3.36
The Bank of Yokohama, Ltd. 3.36
Suzuki Motor Corporation 3.19
The Master Trust Bank of Japan, Ltd. (Trust Account) 3.16
Mitsubishi UFJ Trust and Banking Corporation 2.72
Total 46.13

Products

Front suspension members
Rear suspension members
Suspension modules
Rear beams
Links/Rods/Arms
Brake pedals
Insulator engine brackets
Splash guards
Actuator brackets
Oil pans
Body frames

History

Apr. 1948 Established Yorozu Jidosha Kogyo with capital of 195,000 yen in Tsurumi-ku, Yokohama to enter the automotive repair shop business.
Apr. 1949 Began doing business with Nissan Heavy Industries (currently Nissan Motor) by producing and supplying exhaust tubes for Nissan's 180 truck.
Apr. 1950 Switched from automotive repair to producing automotive components.
Dec. 1959 Established a new factory in Kohoku-ku, Yokohama and started operations there. (current headquarters)
Jun. 1960 Moved the headquarters to its current location in Kohoku-ku, Yokohama.
Jun. 1969 Nissan Motor obtained a 25% ownership in the Company.
Jun. 1990 Changed the name of the Company from Yorozu Jidosha Kogyo to Yorozu Corporation.
Mar. 1994 Listed on the second section of the Tokyo Stock Exchange.
Jul. 1994 Acquired CYC from Calsonic (now Calsonic Kansei) and made the company into a subsidiary.
Sep. 1995 Listed on the first section of the Tokyo Stock Exchange.
Sep. 2000 Established Yorozu Automotive North America (YANA) in Michigan, USA. Has 100% ownership.
Agreed to an all-inclusive strategic tie-up with Tower Automotive (US).
Tower Automotive International Yorozu Holdings, Inc. (wholly-owned subsidiary of Tower Automotive Corporation), which took over the share of Yorozu from Nissan Motor, became our largest shareholder.
Feb. 2001 Dissolved Fukushima Yorozu Co. Ltd. and settled accounts in May of the same year.
Sep. 2001 Established Yorozu Automotive Mississippi (YAM), in Mississippi, USA. Has 100% ownership.
Dec. 2001 Yorozu America received all the shares issued of Yorozu Automotive North America, Inc. and Yorozu Automotive Mississippi, Inc. and made them both its fully owned subsidiaries.
Nov. 2002 Established Yorozu Engineering Systems (Thailand) Co., Ltd. (YEST) in Rayong, Thailand under the full investment from both Yorozu engineering and Yorozu (Thailand) Co., Ltd.
Sep. 2003 Established Yorozu Oita Corporation in Nakatsu-shi, Oita as a manufacturing outsourcing company. Has 100% ownership.
Nov. 2003 Established a joint venture, Yorozu Bao Mit Automotive Co., Ltd. (YBM), in Guangdong prov., China jointly with Shanghai Baosteel International Economic & Trading Corporation Ltd. and Mitsui&Co., Ltd.
Mar. 2004 Through a share buyback transaction, the Company acquired all the shares that Yorozu's biggest shareholder, Tower Automotive International Yorozu Holdings, Inc. (fully owned subsidiary of Tower Automotive), held; and subsequently dissolved the capital tie-up.
Mar. 2004 Established Yorozu Tochigi Corporation in Oyama-shi, Tochigi as a manufacturing outsourcing company. Has 100% ownership.
Jan. 2005 Yorozu transferred all the shares of YAT Inc. to Yorozu America Corporation, which subsequently made YAT into a subsidiary.
Aug. 2005 Established Yorozu Aichi Corporation in Nagoya, Aichi Prefecture. Has 100% ownership.
Sep. 2007 The Company transferred a 10 percent equity share in Yorozu Thailand to Y-Tec Corporation.
Dec. 2009 Dissolved Yorozu Automotive Mississippi, Inc.
Jul. 2010 Established Whuhan Yorozu Bao Mit Automotive Co., Ltd. (W-YBM) in Hubei Province, China through a joint investment with Bao Steel Metal Co., Ltd. and a Japanese trading house, Mitsui & Co. (W-YBM is included in the Company's consolidated financial statements.)
Feb. 2011 Established Yorozu JBM Automotive Tamil Nadu Pvt Ltd. (YJAT) in Tamil Nadu, India through a joint investment with JBM Auto System Private Limited. (YJAT is included in the Company's consolidated financial statements.)
Feb. 2012 Established PT. Yorozu Automotive Indonesia (YAI) in Karawang Regency as wholly owned consolidated subsidiary.
Mar. 2012 YMEX wholly financed the establishment of Yorozu Automotive Guanajuato de Mexico, S.A. de C.V. (YAGM) in Guanajuato, Mexico.
Apr. 2012 YTC wholly financed the establishment of Y-Ogura Automotive (Thailand) Co., Ltd. (Y-OAT) in Rayong Province, Thailand.
Sep. 2012 Esablished Yorozu Automotive Do Brasil Ltda. (YAB) a wholly owned, consolidated subsidiary.
Apr. 2014 Started operating the Yorozu Global Technical Center (YGTC) in Oyama, Tochigi prefecture, Japan.
Aug. 2015 Established Yorozu Corporation Europe Office in the suburbs of Paris, France.
Oct. 2015 Established Yorozu Automotive Alabama, Inc. (YAA) in the USA (a consolidated subsidiary)

Supplemental Information 1