BookTitleToyota Tsusho 70-Year History

Summary

Toyota Tsusho 70-Year History

this led the company to also expand its overseas bases. In addition to networks inAsia and Central and South America, the company’s networks spread to Europe,North America, Oceania, and the Middle East.ThailandIn Thailand, where Toyoda Thailand Co., Ltd., was active, Sanyo ThailandCo., Ltd., was established in March 1969 as a joint venture with Sanyo ElectricTrading Co., Ltd. After taking a capital stake in Universal Electric Co., Ltd., andchanging its name to Sanyo Universal Electric Co., Ltd., Toyoda Tsusho increasedits percent ownership in 1970. In December 1972, Toyoda Tsusho invested in theThai Textile Co., Ltd. This marked Toyoda Tsusho’s participation in its first localspinning company.Meanwhile, in the automobile business, Toyota Motor Corporation (TMC)started production in Thailand with CKD, and in February 1977 Toyoda Thailandsigned a technical assistance agreement with Siam Steel International for steelsheet processing. This steel sheet processing was not limited to automobiles. Itwas also delivered to customers in the consumer electronics industry, such asSanyo Electric Co., Ltd. In September 1985, Toyoda Tsusho established the SiamSteel Service Center as a joint venture with Siam Steel International.Overall, the company promoted diverse operations in various fields in Thailand,such as automobiles, steel sheets, and apparel. It established joint ventures,supplied materials, processed products, exported to Japan, and cultivated trilateraltrade.Malaysia / SingaporeIn July 1970, the company founded Toyoda (Malaysia) Sdn. Bhd. in KualaLumpur, the capital city of Malaysia. The company mainly coordinated withToyota vehicle sales agents, imported various machines and metal products, andexported tin and wood.In July 1975, Toyoda Tsusho established Toyoda Singapore Pte. Ltd. (currentlyToyota Tsusho Asia Pacific Pte. Ltd.), to engage in rapidly increasing trilateraltrade, switch trading, and financial services.In October 1982, Toyoda Tsusho and its local subsidiary Toyoda (Malaysia)Sdn. Bhd. invested capital in Sejati Motor Sdn. Bhd. (currently UMW ToyotaMotor Sdn. Bhd.), a joint venture established by TMC.IndonesiaIn December 1972, Toyoda Tsusho established P.T.GS Battery Inc. as a jointventure with Japan Storage Battery Co., Ltd. (currently GS Yuasa Corp.), and withlocal firms PT Multi Investment Sltd. and Astra International. Thus began ToyodaTsusho’s local production of batteries for automobiles and motorcycles.In May 1975, Toyoda Tsusho joined Nippondenso Co., Ltd (currently DensoCorp.) and the local Astra Group in investing to found PT Nippon DensoIndonesia Inc. This joint venture company was established to support the assemblyand production of air conditioner radiators and plugs. In February 1976, ToyodaTsusho invested capital together with Kayaba Industry Co., Ltd. (currently KYB),History71