Tokyo Radiator Mfg. Co., Ltd.

Company Profile

■URL

https://www.tokyo-radiator.co.jp/entop/

■Address

2002-1, Endo, Fujisawa City, Kanagawa Pref., 252-0816 Japan

Business Overview

-A heat exchanger manufacturer

-Mainly produces radiators and EGR coolers for trucks.

-The parent company of Tokyo Radiator was Marelli Holdings starting in 2017. However, from February 2023 it no longer remained the parent company. As of the end of March 2024, Marelli held only 17.1% of the Company’s stock shares.

-The company is also focusing on providing thermal management that takes into account changes in the social environment, as well as developing new powertrains in areas such as diesel and gasoline engine products.

Business Highlights

-The Company’s financial results for the fiscal year that ended in March 2025 are as follows.
Consolidated sales: JPY 34,060 million (2.0% increase year-over-year)
Operating income: JPY 1,714 million (22.7% increase year-over-year)
Ordinary income: JPY 1,920 million (24.0% increase year-over-year)
Current net loss attributable to the parent-company’s shareholders: JPY 1,422 million. (15.4% decrease year-over-year)

Shareholders

-Listed on the Standard Market of the Tokyo Stock Exchange.

(As of Mar. 31, 2025)

Company name	Investment Ratio (%)
Marelli Corporation (Formerly Calsonic Kansei Corporation)	12.22
Isuzu Motor Ltd.	7.16
Yamazaki Kinzoku Sangyo	5.57
Sato Shoji Co., Ltd.	5.31
Individual shareholder	4.98
European Depositary Bank Sa-Dublin-Buttermere Deep Value Fund Limited (Standing proxy: Citibank, N.A., Tokyo Branch)	4.78
Individual shareholder	3.26
Mizuho Bank, Ltd. (Standing proxy: Custody Bank of Japan, Ltd.)	3.18
Nisshin Fire & Marine Insurance Co.,Ltd.	3.18
Interactive Brokers LLC (Standing proxy: Interactive Brokers Securities Inc.)	2.60
Total	52.24

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Products

Heat exchangers
-Radiators
-EGR coolers
-Oil coolers
-Inter coolers
-Cooling modules for trucks

Body parts
-Oil pans
-Fuel tanks
-SCR - Selective Catalytic Reduction tanks
-Sub tanks

Battery Electric Vehicle

Fuel Cell Electric Vehicle

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History

Oct. 1938	Established as Tokyo Radiator Manufacturing Co., Ltd.in Shiba-ku, Tokyo.
Nov. 1938	Acquired Nishimura Radiator Seisakusho and Nihon Bankin Kogyo.
Sep. 1946	Head office moved to Kawasaki City.
Oct. 1961	Listed on the Second Section of the Tokyo Stock Exchange.
Dec. 1991	Launched real estate leasing business. "Talkpia Kawasaki" completed.
Sep. 1995	Established TorkPia Service Co., Ltd. (currently a consolidated subsidiary).
Dec. 1995	Entered into a technology assistance agreement with Calsonic for the development and production of aluminum radiators.
Jul. 1999	Established a subsidiary, Chongqing Tokyo Radiator Co., Ltd. in Chongqing city, China.
Sep. 1999	Closed the Kanuma Plant and concentrated its production facilities in the Fujisawa Plant
Jul. 2000	Moved the headquarters to a new address at 2002-1, Endo, Fujisawa-city, Kanagawa
Apr. 2004	Established a local consolidated subsidiary Wuxi TRS Heat Exchanger Co., Ltd. in Wuxi, China.
May, 2004	Calsonic Kansei Corporation became the Company's parent company.
Jan. 2005	Nissan became the Company's parent company, following Calsonic Kansei's issuing new share capital to Nissan.
Apr. 2012	Established PT. Tokyo Radiator Selemat Sempurna in Banten, Indonesia.
2012	Launched operations in the passenger car EGR cooler business.
Jun. 2013	Converted TR Asia Co., Ltd., formerly an affiliated company under the equity method, into a consolidated subsidiary.
Mar. 2017	CK Holdings Co., Ltd. became the Company’s parent company as a result of acquiring Calsonic Kansei’s common shares in a public tender. In line with this stock acquisition, Nissan Motor Corporation ceased to be the Company’s parent company.
Mar. 2022	Its parent company, Marelli Holdings Co., Ltd. (Marelli), has applied for an alternative dispute resolution (ADR) proceeding, a type of voluntary liquidation for out-of-court settlements.
Apr. 2022	Moved to the Standard Market of the Tokyo Stock Exchange from the Second Section due to the TSE's reorganization.
Feb. 2023	Due to the Company’s buying back its own stock shares, Marelli Holdings, Inc. and Marelli Corporation are no longer parent companies of the Company.