BookTitleToyota Tsusho 70-Year History

Summary

Toyota Tsusho 70-Year History

Taipei Office in the 1950sHong Kong OfficeBangkok OfficeKarachi OfficeDhaka. After a significant delay, the factory started operation in 1955.TaiwanTaking advantage of a network of entrepreneurs who were affiliated withToyoda Boshoku Sho, a company established in Shanghai by Sakichi Toyoda,Nisshin Tsusho started to export textile machineries made by Toyoda AutomaticLoom Works Ltd to Taiwan in 1951. In the same year, its spinning-related exportsamounted to 180 million yen and, combined with other products, unprecedentedsales of 220 million yen (billions of yen when converted to current value) wererecorded. After that, the company continued to do business with most Taiwanesespinning companies. In addition to exporting educational supplies, water pipes,barbed wire, popsicle-making machines, ice makers, etc., the company alsoimported Taiwanese tea. With this background of active trading, the Taiwan Officewas opened in Taipei in April 1953.In April 1967, Chen Tai Fong Co., Ltd., was appointed as a sole agent forToyoda Tsusho expanding sales of textile machines, exporting products to Japanand conducting trilateral trade. In 1983, Toyoda Tsusho took over 50% of ChenTai Fong Co.’s shares, making it a Taiwanese subsidiary.Hong KongAs the textile industry was growing, a Hong Kong Office was opened in April1953 centering on 14 Shanghai-based spinning companies. In the 1950s, thecompany exported the cotton spinning machines of Toyoda Automatic LoomWorks, looms, and dyeing machines, as well as traded wool fabrics, yarn productsand embroidered sweater to Hong Kong. Toyota vehicles were also exportedthrough distributors.ThailandThe Bangkok Office was established in November 1953. In August 1955,Nisshin (Thailand) Agency Ltd. was established as a joint venture with Suchin,president of local partner Visidha Co. It imported Toyota sewing machines andNichibo cotton thread and exported Thai agricultural products. Following that,the company imported textile machinery from Toyoda Automatic Loom Works,boilers for sugar factories, home appliances from Sanyo Electric Co., Ltd. asit was then, motorcycles from Suzuki Motor Co. Ltd. (currently Suzuki MotorCorp.), Toyota forklifts, and more.In January 1957, Toyoda Thailand Co., Ltd., was established as a 50-50 jointventure with President Suchin and took over the operations of Nisshin (Thailand)Agency Ltd.PakistanIn the 1950s, Pakistan was a big producer of cotton, and many companies,including Japanese general trading companies, sent expatriates to the country. Atthe time, Pakistan had poor foreign currency reserves, and barter trade or deferredpayment was encouraged for imports. Nisshin Tsusho and then Toyoda Tsushoexported cotton weaving machines from Toyoda Automatic Loom Works usingdeferred payment, while importing cotton. In July 1952, the Karachi Office wasestablished as a local base.IndonesiaThe Jakarta Office was established in September 1954 with Masajiro Matsuura,a former employee of Mitsubishi Corp. who acted as an attorney for war criminalsafter the end of the war, as an agent. The company initially exported fishnets58