Core ASEAN-focused growth strategy enhanced through production base
Mitsubishi Motors Corporation (MMC) announced that it has acquired shares of Asian Transmission Corporation (ATC) from Mitsubishi Motors Philippines Corporation (MMPC)* and Sojitz Corporation (Sojitz). As a result, MMC now holds 90% of ATC shares.
* MMC’s exclusive producer and distributor in the Philippines.
A production base for components, ATC supplies transmissions and engines for automobiles mainly to MMPC and other ASEAN countries. Through capital restructuring of ATC, MMC will enhance management of its component production business. Accordingly, MMC will utilize this advantage in the ASEAN region and produce newly-developed transmissions exclusively at ATC starting from September this year.
One major pillar of MMC’s New Stage 2016 next mid-term business plan is to reinforce its production base in ASEAN countries. MMC will further reinforce operating base in ASEAN countries where automobile market is expected to have sustainable growth. MMC will do so by strengthening the structure of supplying components within ASEAN countries in addition to the restructuring of production capability in the Philippines as announced in March this year.
Outline of ATC (Asian Transmission Corporation)
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Company
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Asian Transmission Corporation
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Headquarters
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Calamba, Laguna, Philippines
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Established
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January 1973
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Capital
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770,000,000 PHP
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Stockholders
(after restructuring)
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MMC 90%, ATC retirement fund 10%
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Scope of operations
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Production of transmissions and engines
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Number of employees
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518 employees (as of end of May, 2014)
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Representative
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Mitsutaka Kaneko, President
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