By Kris M. Crismundo
MANILA, Feb. 10 (PNA) — Tokai Rika Co. Ltd., a Japanese manufacturer of automotive switches, has inaugurated its newest plant in Santa Rosa, Laguna on Tuesday.
Through its local arm, Tokai Rika Philippines (TRP), the Japanese firm invested Php1.0 billion for the expansion of its facility in the country.
It is also the fourth expansion of the Japanese auto parts supplier in the Philippines.
TRP is registered under the Philippine Economic Zone Authority (PEZA).
In a previous interview, TRP president Michio Aoki said its expansion in the Philippines is projected to generate USD100 million exports revenue over a period of three years.
The expansion will also create 300 jobs in addition to its current 982 employees.
Aoki mentioned that the firm’s expansion will increase its capacity by 50 percent and also allow expansion of its product line up.
TRP produces some 1.4 million to two million switches a month.
TRP manufactures 10 types of automotive switches like back-up lamp switches, tire monitor switches, power seat and blower switches, 10 types of lever combination switches, and six types of power window switches.
Meanwhile, Tokai Rika is Toyota’s biggest supplier of automotive switches.
The Japanese firm’s export markets include Toyota, GM, Ford and Subaru in North America.
It also supplies the ASEAN market for Toyota, Suzuki, and Mazda in Indonesia. (PNA)