A TOKYO-based wiring harness and manufacturing company is set to invest in a P230 Million facility project in Bataan, slated to provide jobs for the locals in 2022.
Yokowo Co., Ltd. has chosen the Philippines to be the home of its site for its new subsidiary for automotive wiring harness and components manufacturing and assembly operations, following 12 months of study and survey throughout the ASEAN region.
The Japanese company offers innovative high-tech products to manufacturers worldwide in the advancing electronics, electrical machinery, and automotive industries, as the company claimed the reputation as specialists in antennas, fine connectors, microwaves, and advanced devices for the automotive, semiconductor testing systems, mobile device, and advanced medical device sectors.
“The Philippines will play an important role in the company’s regional strategy for supply chain stratification that has always been responsive to expected increases in business volume and global expansion of major clientele,” according to Yokowo Chief Executive Officer Fujita Yutaka during a meeting with the representatives of the Department of Trade and Industry.
While the DTI-Foreign Trade Service noted that Yokowo recently registered a 100% wholly-owned business in the Philippine Securities and Exchange Commission under the name Yokowo Manufacturing of the Philippines.
“The Philippine venture will support Yokowo’s in-vehicle communication equipment business which accounts for about 60% of the Group’s consolidated sales,” according to Trade and Industry Special Trade Representative Dita Angara-Mathay.
The company plans to conduct ground-breaking activities, slated for January 2022, for a new 3.7-hectare factory of wire harness and components in the Hermosa Ecozone Industrial Park in Bataan, and will require a labor force of 800 workers, which is set to commence operations in April 2022, according to Mathay.
For his part, Trade Secretary Ramon Lopez underscored Yokowo’s expansion project in the country, apart from generating more employment opportunities for Filipinos during this pandemic.
“Yokowo’s expansion project in the country also supports our innovation and technology-driven thrust in DTI as well as increases market competitiveness in our wiring industry. This is the second Japanese investment in wiring harness production in the Philippines this year, the first being Sumitomo Wiring Systems, who is setting up the company’s biggest factory in the world in Pangasinan. At a minimum, the expansion project of Sumitomo will provide employment opportunities for 10,000 workers in Northern Luzon, adding to the company’s total roster of 55,000 in the Philippines,” according to Lopez.