【NEWS RELEASE】
February 5, 2004
Local Car Navigation Manufacturer Established in China
On February 2, Fujitsu Ten (head office: Kobe, president: Takamitsu Tsuchimoto, capital: 5.3 billion yen) established Fujitsu Ten Electronic (Wuxi) Ltd., in Wuxi New District, Wuxi, Jiangsu Province, People's Republic of China. Fujitsu Ten Wuxi is a local manufacturer whose primary function will be the production of multimedia products such as car navigation systems and integrated car audio/visual devices, to strengthen Fujitsu Ten's response to the expanding Chinese automobile market and improve cost competitiveness. A factory will be constructed in the near future, with production scheduled to begin in November 2004.
In China, Tianjin Fujitsu Ten Electronic Ltd., a local corporate joint venture located in the economic and technological development district of Tianjin, has been manufacturing car audio and deck mechanisms (CD and DVD) and exporting them to Japan since 1997. In recent years, they have also begun supplying local automobile manufacturers. The new factory is being constructed for future business expansion toward the Chinese automobile market, further improvement of cost competitiveness, and the market expansion of high-tech products, such as the export of car navigation systems to Japan.
In addition, we established a local distributor in China in last September, as well as a local design company in last November. Our goal is to provide a complete range of products and services through the establishment of this design, manufacturing, and sales system.
Outline of new local corporation/factory
| 1.Purpose : | Respond to the expanding Chinese automobile market and improve cost competitiveness | |
| 2.Company name: | Fujitsu Ten Electronic (Wuxi) Ltd. | |
| 3.Location: | Wuxi New District, Wuxi, Jiangsu Province, People's Republic of China | |
| 4.Date established: | February 2, 2004 | |
| 5.Representative: | Shigeru Suzuki, senior accountant | |
| 6.Capital: | US$10 million (1.05 billion yen) *calculated at US$1 = 105 yen 97% invested by Fujitsu Ten, 3% from local capital |
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| 7.Primary products: | AVN (Audio Visual Navigation): integrated DVD/CD/TV/radio devices, etc. Integrated car audio/visual devices: integrated CD/TV/radio devices, integrated cassette/TV/radio devices |
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| 8.Production scale: | 1 million units in 2008 | |
| 9.Personnel plan: | 500 employees in 2008 | |
| 10.Investments: | 1 billion yen | |
| 11.Land/structures: | 60,000 square meters /6,000 square meters (one-floor reinforced concrete structure) | |
| 12.Start of operations: | November 2004 (estimate) |
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