Toyota Boshoku reduces dependence on Toyota by getting new client in Europe

Article by Anita Panait, on January 23, 2012

Toyota Boshoku Corp. has won a contract to supply a European automaker with car seats, which it currently does for Toyota Motor Corp., according to Boshoku President Shuhei Toyoda. Toyoda, a relative of Toyota Motor chief Akio Toyoda, said his company aims to cater to automakers in Europe, which includes BMW AG and Volkswagen AG, in order to cut its dependence on the Japanese carmaker.

Boshoku is planning to hike its revenue from non-Toyota clients from the current 7% to around 10% in 2015. The company acquired a number of prominent clients after buying the automotive-interior business of Polytec Holding AG in 2011 for an undisclosed sum.

Toyoda said that although competition is very tough in Asia and other regions, Boshoku is continuously approaching possible clients. Boshoku wants to limit its profit drop to 4.1 percent in the fiscal year ending March 31, 2011 and is targeting a net income of 11 billion yen ($143 million).

The company expects its European operations to post a profit by the fiscal year that ends March 31. The company also expects a boost in sales in the next fiscal year after the Japanese government implemented subsidies and tax breaks for purchases of fuel-efficient cars.

"This shouldn't result in a decrease in the sales volume to Toyota but the company needs to diverse its customer base," Satoru Takada, an auto analyst at Toward the Infinite World research firm, said. Toyoda declined to name the European client or provide details.

Topics: toyota, europe

If you liked the article, share on:

Comments

Recommended

Bimmerpost has posted several cool pictures of the new BMW G30 540i and the new G31 generation BMW 5-Series Touring, with both wearing the brilliant Rhodonite Silver Individual colour. The...
by - October 23, 2017
A few years ago, Lotus tried to take on Porsche. They had a five-car plan to go against competitors like Ferrari and Aston Martin. Though it did not go well,...
by - October 23, 2017
To keep the Nissan Maxima interesting, the Japanese automaker gives the 2018 model year a number of small tweaks. Some of these include standard Android Auto, which is a new...
by - October 23, 2017
It looks as if Chevrolet has everything planned out in terms of production. Firstly, they have plans of introducing the Corvette ZR1 in a few months, which will then be...
by - October 23, 2017
While Tesla Motors continues to struggle with regards to the assembly of its much awaited Tesla Model 3, investment firm Oppenheimer & Co. is confident that its previous production estimates...
by - October 22, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries