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TOYODA GOSEI CO., LTD.

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Toyoda Gosei : Announces Proposal to Close its UK Manufacturing Facilities Reorganization of European Production Network

04/28/2021 | 11:41am EDT

Kiyosu, Japan: Toyoda Gosei Co., Ltd. announced that Toyoda Gosei UK Ltd. (TGUK) has informed its employees of a proposal to close the business in the United Kingdom (UK). TGUK will now enter a formal period of consultation with its employees regarding the proposed changes. The proposal is in response to continued changes in the global automotive sector, and a significant reduction in key UK customer demand. Due to these changes, Toyoda Gosei does not foresee growth of its business there and has decided to make this proposal.

Restructuring of its global business is one part of Toyoda Gosei's efforts to achieve sustainable growth into the future. The company has taken previous steps to reorganize its business in Europe, selling its shares in a production subsidiary for automotive parts in Germany in December 2019 and moving some of production to its main European manufacturing site, Toyoda Gosei Czech, s.r.o. (TGCZ). It will continue to improve productivity and strengthen its European business with TGCZ in a central role.

Toyoda Gosei will respond swiftly and flexibly to the accelerating changes in the business environment with the aim of achieving sustainable growth into the future.

Outline of TGUK

Name	Toyoda Gosei UK Ltd.
Location	Rotherham Plant (HQ) Rotherham, England

Swansea Plant Swansea, Wales

Founded	April 1999
Capital	38 million pounds
Shareholders	Toyoda Gosei Co., Ltd. 91.09%

Toyota Tsusho Corp. 8.91%

President	Shigenori Matsuo
No. employees	458 (as of March 31, 2021)
Products	Rotherham Plant Weatherstrips

Swansea Plant Interiors & Exteriors

(C) 2021 Electronic News Publishing, source ENP Newswire

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Financials
Sales 2021 734 B 6 661 M 6 661 M
Net income 2021 23 769 M 216 M 216 M
Net Debt 2021 20 816 M 189 M 189 M
P/E ratio 2021 14,8x
Yield 2021 2,16%
Capitalization 349 B 3 164 M 3 165 M
EV / Sales 2021 0,50x
EV / Sales 2022 0,47x
Nbr of Employees 39 403
Free-Float 52,9%
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Number of Analysts 9
Average target price 3 335,71 JPY
Last Close Price 2 695,00 JPY
Spread / Highest target 44,7%
Spread / Average Target 23,8%
Spread / Lowest Target 3,90%
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Managers and Directors
NameTitle
Toru Koyama President & Representative Director
Naoki Miyazaki Chairman
Masaki Oka Director, GM-Accounting & Information Technology
Sojiro Tsuchiya Independent Outside Director
Kimio Yamaka Independent Outside Director
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