Establishment of a Philippine Subsidiary to Create a Backup Production System for Wire Harnesses

「For “wire harnesses connecting critical electronic equipment,” we have been developing a production structure at the Philippine plant established to support BCP and have been building the production structure needed to begin new mass production for local customers.」

「We are also strengthening Japan's shortage of R&D personnel by transferring foreign engineers from overseas to Japan and taking other measures.」

「Against this backdrop, in the third year of the medium-term plan (VISION2025), the Group strengthened its efforts to achieve the plan, including operating the Hamamatsu plant as a production and development site for products that contribute to a low-carbon society and increasing the number of products manufactured at the Philippine subsidiary established to strengthen BCP (business continuity planning).」

「Under these circumstances, in the third year of the medium-term plan (VISION2025), the Group commenced operations at the Hamamatsu Factory, a production and development base for products that contribute to achieving a low-carbon society. It also accelerated the expansion of production capacity at the Philippines Factory, which commenced operations to support BCP, and pursued initiatives to achieve the medium-term plan.」

「We began operations at the Philippine plant as an overseas base supporting BCP (business continuity planning),」

「In the second year of the medium-term plan VISION2025, the Company is intensifying efforts in key areas, including construction of a new plant that will serve as a production and development base for products contributing to the realization of a low-carbon society and preparations to commence operations at its Philippine subsidiary.」

「The Company is focusing on initiatives including the construction of a new plant that will serve as a production and development base for products contributing to a low-carbon society, and preparations to commence operations at its Philippine subsidiary to strengthen its production system.」

「ASTI MANUFACTURING PHILIPPINES INC., which was newly established during the first quarter of the current consolidated fiscal year, has been included in the scope of consolidation.」

「To strengthen the Group’s ability to respond, we will strengthen the overseas business structure at headquarters and improve our information-gathering capabilities. We will also establish a new subsidiary in the Philippines and strengthen our production backup system to diversify the risk of constraints being imposed on production activities at the Group’s factories.」