BookTitleToyota Tsusho 70-Year History

Summary

Toyota Tsusho 70-Year History

7 The Founding of Toyotsu ElectronicsIn April 2003, Toyotsu Electronics was establishedto create a strong business presence in automobileelectronics. That company aimed to expand business withthe vision of becoming the hybrid company leader in carelectronics in four sectors: semiconductors, developmenttools, software, and telematics. Limited liabilityintermediate corporation Japan Automotive SoftwarePlatform and Architecture (JASPAR) was establishedin September 2004 to engage in joint development,standardization, and sharing of software and networks forautomotive electronic control systems and that companystarted to work with manufacturers of automobiles,electrical equipment, semiconductors and software, aswell as other car electronics-related businesses.9 Funding of ElematecIn August 2011, Toyota Tsusho signed a capital andbusiness alliance agreement with independent electricaland electronic materials general trading companyElematec Corp. achieving capital participation in thecompany. The company expanded domestically andinternationally to 55 sites in Japan, China, EasternEurope, Asia, and North America, with approximately4,800 customers for consumer electronics, mobilephones, and industrial equipment for which the companysold customized electrical and electronic materials.Toyota Tsusho invited Elematec to become part of theToyota Tsusho Group because of its complementaryrelationships in products handled and sales channels,aiming to generate synergistic effects.8 The Rise of NEXTY ElectronicsThe electronics business entered a new stage in 2017.In April of that year, Toyotsu Electronics consolidatedwith Tomen Electronics Corp. which had become awholly owned subsidiary in December 2014, to establishNEXTY Electronics Corp. Mighty in the car electronicssector, Toyotsu Electronics aimed to create synergies withTomen Electronics’expertise in the field of consumerproducts, and the merger heralded the birth of one of theworld’s leading electronics general trading companies.Amid rapid changes in the world market, includingthe rise of Chinese and Korean manufacturers, NEXTYElectronics was expected to meet needs for informationand communication technology that is connective inthe automotive field and enables automatic driving,applications of AI and other leading-edge technologies,and use of IoT in the field of industrial equipmentto create more advanced social infrastructures andmanufacturing processes.Birth of NEXTY ElectronicsElematec Electronics (Dalian) Co., Ltd.History143