NHK Spring Targets 35B yen of China Automotive Seat Business

Japanese major spring maker, NHK Spring targets total 35 billion yen of automobile seat sales at Chinese 3 plants in fiscal 2013 ending in March 2014. The firm will increase production capacity in India and in Thailand. The firm plans 68 billion yen of capital expenditure in 3 years through the end of fiscal 2013 mainly in offshore countries.

NHK Spring will focus on expansion of automotive seat business in China. The firm will establish third Chinese automotive seat making subsidiary in Zhengzhou in December, which will launch the operation in 2014. Another two Chinese seat making subsidiaries will launch the operation in Hubei province and in Guangzhou. These 2 subsidiaries expect slightly less than 30 billion yen of sales in 2013.

NHK Spring’s Indian subsidiary decided to open coil spring and stabilizer making plant in South India and acquired local spring business. In Thailand, NHK Spring opens new automotive seat making plant.