NEW DELHI & KOBE, Japan--()--Leading Japanese automobile component manufacturer FUJITSU TEN LIMITED and leading Indian auto components manufacturer Uno Minda, NK Minda Group have agreed to establish new manufacturing and sales joint venture companies in India for Car Infotainment(*1) products. The JV agreement was signed today at Bangalore, Karnataka.
The automotive industry in India is one of the largest in the world and one of the fastest growing globally. Considering that the number of new car sales in India exceeded 3 million in 2010, Indian car market has launched itself into a real motorization era and further expansion can be expected at a rapid pace. This JV is an attempt to tap into the growing segment of Car Infotainment products and bring innovative products to Indian market. The JV's manufacturing facility will come up at Bawal, Haryana. The JV plans to produce Car infotainment products such as CD Tuners, Display Audios, AVNs(*2) and Speakers. The Production will start in October 2013.
On the occasion, Mr. Shigematsu, President of Fujitsu Ten said, "We are confident that this partnership can leverage the fundamental strengths of both partner companies and that this JV will offer strong products which makes Indian customers happy. With Uno Minda providing a strong business base to FUJITSU TEN LIMITED's innovative and technically superior products, we aim to bring the best of technologies to Indian market. We will meet the expectations of Indian customers continuously through this JV."
Mr. Nirmal K Minda, CMD of N K Minda Group, said, "Uno Minda, NK Minda Group has maintained a tradition of bringing the latest automotive technologies to India. We are delighted to partner with FUJITSU TEN and are confident that this JV will create a very strong local production base to offer market-leading, technology intensive Audio Infotainment System to Indian OEMs(*3). This JV will bring local design, product development and complete manufacturing for the very first time in India for such products."
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Brief highlights of the Joint Venture (Plan) |
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| Manufacturing Company | Sales Company | ||||
| Name | Fujitsu Ten Minda India Pvt. Ltd. | Minda F Ten Pvt. Ltd. | |||
| Established | July, 2012 | July, 2012 | |||
| Registered Address | Delhi, India | Delhi, India | |||
| Capital | Initial year Paid-in Capital
300 Mil INR(480 Mil JPY) |
Initial year Paid-in Capital
50 Mil INR(80 Mil JPY) |
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| 800 Mil INR (till FY16)
(1.29 Bil JPY) |
100 Mil INR (till FY16)
(160 Mil JPY) |
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| Capital Structure | FUJITSU TEN Ltd 51%
N K Minda group 49% |
FUJITSU TEN Ltd 49%
N K Minda group 51% |
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| Representative | Chairman of the board: Yoriyasu Fukatsu
Managing Director：Naveesh Garg |
Chairman of the board: Yoriyasu Fukatsu
Managing Director：Naveesh Garg |
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| Business Purposes | Designing, Development,
Manufacturing of CI (Car Infotainment) products and its Accessories |
Marketing, Sale, Service of CI (Car Infotainment) products and its Accessories | |||
About FUJITSU TEN
FUJITSU TEN LIMITED（Headquarters／Kobe, Hyogo prefecture, Japan; Capital／5.3 billion yen）, established in 1972 with investment from FUJITSU LIMITED, TOYOTA MOTOR CORPORATION, and DENSO CORPORATION, is a leading manufacturer of automotive electronic equipment. It is a globally-recognized manufacturer of car navigation and audio systems, ECU for engine and airbag control, and mobile communication equipment. Consolidated sales totaled 249 billion yen（US$3.11 billion） for the fiscal year ending March 31, 2012.
For more information, see
FUJITSU TEN official site http://www.fujitsu-ten.com/
FUJITSU TEN channel http://www.youtube.com/FUJITSUTENLIMITED
About UNO Minda, N K Minda Group
UNO Minda, NK Minda Group, a technology leader in Auto Components Industry, is a leading supplier of proprietary automotive solutions to OEMs as Tier-1. It manufactures Automobile Components for Original Equipment Manufacturers (OEMs). It is today a 20 Bil INR (US$400 million) group and is rapidly expanding with increased market share in its product lines.
The Group is a global player in automotive sector with manufacturing facilities in Indonesia and Vietnam and Offices in Japan, Europe and China. It has 27 manufacturing plants in India and has JVs/Technical Agreements with world renowned manufactures in Italy, India and Japan. Our continuous effort is to deliver high technology and quality products to our valued customers in worldwide area. For more information please visit www.mindagroup.com.
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(*1) |
Car navigation and Car audio, etc. Infotainment is a word that combines Information and Entertainment. |
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(*2) |
Term that takes initial of Audio Visual Navigation. AVN is a car navigation system equipped with music reproduction, television reception (or, the video reproduction), and the route guide function in one. First of all, FUJITSU TEN LIMITED puts it on the market as a product that can use each basic function without buying the accessory in 1997. |
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(*3) |
Term that takes initial of Original Equipment Manufacturer. It is translated into "other party brand name manufacturing". It is often used in the meaning for the automobile company in the car industry. |