Notice Regarding Transfer of Overseas Subsidiaries, Which Manufacture Automotive Seat Frame Mechanism Parts

Oct. 25, 2022

News Release

Toyota Boshoku Corporation (President: Masayoshi Shirayanagi; hereinafter referred to as “Toyota Boshoku”), AISIN Corporation (President: Moritaka Yoshida; hereinafter referred to as “AISIN”), and Shiroki Corporation (President: Toshio Tanaka; hereinafter referred to as “Shiroki”) have agreed to transfer PT. SHIROKI INDONESIA (hereinafter referred to as “SID”) and SHIROKI AUTOMOTIVE INDIA PVT. LTD. (hereinafter referred to as “SAI”), which are overseas subsidiaries that manufacture automotive seat frame mechanism parts for AISIN, to Toyota Boshoku group.

The overseas subsidiaries will be transferred through the acquisition of shares of SID and SAI, which are currently held by Shiroki, by TOYOTA BOSHOKU ASIA CO., LTD. (hereinafter referred to as “TBAS”), which is the Regional Management & Collaboration Hub of Toyota Boshoku. Specifically, TBAS will acquire 80% of the shares of SID and SAI each by March 2024, which is set as a practical goal. Subsequently, TBAS will acquire the remaining shares by the end of 2025, which is also set as a practical goal, to make SID and SAI wholly owned subsidiaries. This will be implemented on the condition that the procedures and actions required by the competition laws of each relevant country are completed.

For the operations in North America, we are mainly considering the transfer of the equipment at AISIN U.S.A MANUFACTURIN, INC. (hereinafter referred to as “AUM”) and we will agree on the transfer method and schedule by March 2023.  

Since 2015, Toyota Boshoku has been gradually taking over the development and production functions of seat frame mechanism parts for Toyota Motor Corporation from Aisin in order to become a “HOME”*1 as an interior system supplier. In accordance with this agreement, Toyota Boshoku will gradually transfer sales, development, and production functions for the customers other than Toyota to further strengthen competitiveness, and become a solution company of vehicle interior space who is capable of creating new corporate value as an “Interior Space Creator.”

Meanwhile, Aisin will focus on a “full model change” of its business structure in response to the drastic changes in the automobile industry. In the car body business, Aisin will concentrate resources on the development of system products such as power sliding doors. Shiroki will exert efforts to expand markets with their capability which can provide new products quickly with their manufacturing power.

*1. HOME: Toyota Boshoku business or region that can add value on its own with the practice of Genchi Genbutsu (meaning “Go and see for yourself”) and is highly competitive in comparison with its competitors.

< Outlines of 2 subsidiaries transferring to Toyota Boshoku >

Location: Kawasan Greenland International Industrial Center (GIIC) Block AA  No.18, Kota Deltamas, Desa Sukamahi,Kecamatan Cikarang Pusat, Kabupaten Bekasi 17530 Indonesia
Representative:President, Director; Osamu Ando
Capital:29,900,000 USD
Area:Land 18,561m2, Building 12,442m2
Products:Seat recliners, Seat adjusters, etc.
Employees: Approx. 294 (as of March 31, 2022)


Location:Unit No. 108, 1st Floor, Suncity Success Tower, Golf Course Ext. Road, Sector-65, Gurugram, Haryana 122005 India
Representative:Managing Director; Shinki Yamada
Capital:248,500 INR
Area:Land 19,181m2, Building11, 502m2
Products:Seat recliners, Seat adjusters, etc.
Employees: Approx. 540 (as of March 31, 2022)