Management Integration between AISIN KOREA and AW KOREA

Aug. 4, 2020

News Release

 Two Aisin group companies based in South Korea, AISIN KOREA CO., LTD. (hereinafter, AKC) (head office: Gangnam, Seoul, Korea; president: Kazuhiro Mitsuda) and AW KOREA CO., LTD. (hereinafter, AW-K) (head office: Yeouido, Seoul, Korea; president: Yoshinari Kuwayama) have reached a basic agreement to enter into discussion on business integration.

 Aisin Group is currently planning and phasing in the effective consolidation of its functions within the group and the reorganization of its 87 group companies at home and abroad toward the goal of transforming itself into an entity having a higher profitability. The management integration between AKC and AW-K is a part of this scheme. By consolidating the functions overlapping within the group, Aisin Group will answer customer needs more effectively and achieve higher efficiency in management.

 AKC and AW-K will discuss the details to implement the management integration in January 2021.

<Outlines of Two Companies>

Name

AISIN KOREA CO., LTD.

AW KOREA CO., LTD.

Head office location

1505-147, Teheran-ro, Gangnam-gu, Seoul, Republic of Korea

11, Eunhaeng-ro, Yeongdeungpo-gu, Seoul, Republic of Korea

Establishment

December 2013

September 2003

Capital

300 million won

100 million won

Investment ratio

100% by Aisin Seiki Co., Ltd.

100% by Aisin AW Co., Ltd.

Sales

700 million won (FY ending in March 2020)

2.3 billion won (FY ending in March 2020)

Number of employees

4 (as of June 2020)

15 (as of June 2020)

Description of business

— Market research and sales support for automobile components

 

— Market research and sales support for automatic transmissions

— Development support for car navigation systems