Commencement of Operation of a Pipe Joint Venture Company in China
January 31, 2013
Okaya & Co., Ltd. is pleased to announce that an automotive / industrial pipe manufacturing subsidiary formed with SHINNICHI KOGYO CORPORATION and Okaya group companies start operation on the 1st of March under the following representative officers.
The company aims to participate in the Chinese automotive industry expected to grow further in the future and satisfy needs from local users by supplying products made with SHINNICHI KOGYO’s processing / manufacturing know-how.
| 1 | Corporate name | ZheJiang OKAYA SHINNICHI Co., Ltd. | |
|---|---|---|---|
| 2 | Location | 1353 Xinqun Road, Pinghu Economic Development Zone, Zhejiang, People’s Republic of China (About 80km to the southwest from Shanghai City) |
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| 3 | Business purpose | Manufacture and sale of automotive / industrial pipes | |
| 4 | Capital | Equivalent to JPY 300 million | |
| Okaya & Co., Ltd. | 50% | ||
| SHINNICHI KOGYO CORPORATION | 40% | ||
| Okaya (Shanghai) Co., Ltd. | 5% | ||
| OKAYA SHINNICHI CORPORATION OFAMERICA | 5% | ||
| 5 | Start of sales | March 1, 2013 | |
| 6 | President (part time) | Yoshio Kinoshita (President of SHINNICHI KOGYO CORPORATION) |
|
| 7 | CEO (full time) | Shinichi Kurumiya (Okaya & Co., Ltd.) | |
| 8 | Number of employees | 20 employees | |
| 9 | Annual Sales (plan) | JPY 240 million (fiscal year ending December 2014) JPY 400 million (fiscal year ending December 2015) |
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For reference
SHINNICHI KOGYO CORPORATION
| - | Location | Toyokawa City, Aichi |
|---|---|---|
| - | Business purpose | Manufacture and sale of large-diameter, thin-wall (titanium, stainless steel, steel) pipes |
| - | Capital | JPY 71.2 million |
| - | Establishment | September 1970 |
Okaya (Shanghai) Co., Ltd.
| - | Location | Shanghai City, People’s Republic of China |
|---|---|---|
| - | Business purpose | Trading |
| - | Capital | US$500,000 (100% owned by Okaya & Co., Ltd.) |
| - | Establishment | August 2000 |
OKAYA SHINNICHI CORPORATION OF AMERICA
| - | Location | Charlotte, North-Carolina, USA |
|---|---|---|
| - | Business purpose | Manufacture and sale of automotive parts |
| - | Capital | US$2,500,000 (Okaya & Co., Ltd.: 46%, Okaya (USA) Inc.: 14%, SHINNICHI KOGYO CORPORATION: 40%) |
| - | Establishment | February 1990 |
Commencement of Operation of a Pipe Joint Venture Company in China(22KB)
