Toyota Boshoku Corporation, Aisin Seiki Co and Shiroki Corporation have agreed that Toyota Boshoku will acquire the mechanical seat frame component business operated by Aisin Seiki and Shiroki (customer: Toyota Motor Corporation in order to enhance the competitiveness of automotive seats.
Toyota Boshoku believes that it is imperative to enhance engineering capabilities and expertise in the manufacturing of seat frames to become a seat supplier that is able to rival world-class seat manufacturers. Toyota Boshoku considered that the integration of its seat frame business with the mechanical seat frame component business operated by Aisin Seiki and Shiroki would enable Toyota Boshoku to further increase its technology development capabilities and to deliver ever-better seats with higher added value that meet the various needs of automakers.
Thus, Toyota Boshoku proposed acquisition of the mechanical seat frame component business. Toyota Boshoku, Aisin Seiki, and Shiroki have now reached an agreement based on a thorough process of discussions.
Currently, Toyota Boshoku, Aisin Seiki, and Shiroki develop and manufacture seat frame components. Seats are supplied to Toyota from Toyota Boshoku, which develops automotive interior systems. Mechanical components that make up seat frames, such as recliners (a mechanism for adjusting the backrest angle) and slide rails (a mechanism for adjusting the seating position forward/backward), are supplied to Toyota Boshoku from Aisin Seiki and Shiroki.
The operations of Aisin Seiki and Shiroki's development and manufacturing of mechanical seat frames components will be transferred to Toyota Boshoku in stages, in order to establish an integrated system from development to production.
By the end of 2015, the development operations will be consolidated, and the details of the transfer, including the manufacturing operations, will be determined on the condition that necessary procedures will be followed and compliance will be ensured in accordance with applicable competition laws in each of the respective countries.