Expanding the business overseas and into non-automotive fields, starting with automotive painting
First written in FY2017. 6 of 8 entries say "Advanced", first in FY2020. Latest entry: FY2026.
The whole theme swung hardest in 2023: 1 of 7 companies on the "Worse" side.
5 other companies' latest entry also says "Advanced".
- FY2026AdvancedAnnual report
「To strengthen the Automation business, a growth business, the Company completed an M&A transaction involving a North American automation company with a strong customer base among major U.S. automakers, the Detroit Three.」
The expansion from automotive painting into overseas and non-automotive fields progressed to the stage of conducting an M&A transaction involving a North American automation company and leveraging development bases in Japan and the United States. - FY2023-Q1AdvancedAnnual report
「On 19 April 2022, the company entered into an agreement to transfer part of its shares in Geico S.p.A., hereinafter referred to as “Geico,” and completed the transfer procedures on 20 April 2022. …In light of the ongoing COVID-19 infection situation, the impact of the Russia-Ukraine conflict on capital investment by European automakers, and expected increases in resource prices and the cost of materials and equipment, the Painting Systems business will focus on the four-wheel vehicle market in regions outside Europe, where Geico provides external support, and seek to expand its automation business beyond the four-wheel vehicle market to enhance business value over the medium to long term.」
The planned reduction in Geico's ownership interest announced in the previous fiscal year was completed on 20 April 2022 through the transfer of shares. The shift in focus to four-wheel vehicle markets outside Europe and automation fields outside the four-wheel vehicle market moved into the execution stage. - FY2022ReframedAnnual report
「In light of the ongoing COVID-19 infection situation, the impact of the Russia-Ukraine conflict on capital investment by European automakers, and expected increases in resource prices and the cost of materials and equipment, the Painting Systems business will focus on the four-wheel vehicle market in regions outside Europe, where Geico provides external support, and seek to expand its automation business beyond the four-wheel vehicle market to enhance business value over the medium to long term.」
The policy shifted from expanding the European business through Geico to reducing Geico's ownership interest from 51.0% to 14.5% and shifting the focus to four-wheel vehicle markets outside Europe and automation fields outside the four-wheel vehicle market. - FY2021-Q3AdvancedAnnual report
「To expand its business in Germany, a European customer market where investment is expected over the medium to long term, the company decided to make J-PM Systems GmbH, an engineering company headquartered in Germany specializing in automotive painting equipment and an equity-method affiliate of its consolidated subsidiary Geico S.p.A., a subsidiary. It will also expand its business scope and strengthen its ability to operate by investing in 3 companies engaged in electrical control design businesses, Process Solution Partner GmbH, Process Solution Partner Rus LLC and Software Automation Concepts d.o.o., and by collaborating with other group companies and leveraging each company's strengths.」
To expand its business in the European, particularly German, automotive painting-equipment market, the company acquired J-PM Systems GmbH and 3 electrical control design-related companies, broadening its business scope and collaboration platform. - FY2020AdvancedAnnual report
「To accelerate research and development in painting-equipment businesses for non-automotive applications such as aircraft and railcars, the company has promoted alliances with overseas group companies and raised its ownership interest in Encore Automation LLC to 100% during the consolidated fiscal year. Going forward, it will further develop technologies with Encore, including automated systems for aircraft painting, and roll them out globally.」
Regarding expansion into painting equipment for non-automotive applications, the company raised its ownership interest in Encore Automation LLC to 100%, putting into concrete form its policy of rolling out automated systems for aircraft painting globally. - FY2017First statedAnnual report
「The Painting Systems Division will further develop its comprehensive engineering business, including improving automotive painting and coating efficiency and reducing the energy load of entire painting plants. It will grow by increasing orders for newly built and remodeled painting plants in India, China, the United States and Europe from both Japanese automakers and locally owned automakers. It will also expand into painting-equipment businesses for non-automotive applications, such as aircraft painting, as well as peripheral fields including painting technologies for new materials and conveyor systems.」
The company has set out measures to increase orders from automakers, including locally owned manufacturers, in India, China, the United States and Europe, while expanding into non-automotive fields such as aircraft, new-material painting and conveyors.