IJT Technology Holdings was established in October 1, 2013, as a joint stock holding company for I Metal Technology Co., Ltd., Jidosha Buhin Kogyo Co., Ltd., and TDF Corporation through a joint stock transfer.
I Metal Technology Co. Ltd. specializes in casting, and TDF Corporation specializes in forging. Jidosha Buhin Kogyo Co., Ltd. specializes in machining and assembly. All of them supply products to truck and construction equipment manufacturers. They have significantly contributed to the development of the automobile and construction equipment industries over many years.
In recent years, the domestic and overseas business environment for the IJTT Group has significantly changed. While we expect near-term demand to show steady progress, we anticipate that demand will gradually decline post the 2020 Tokyo Olympics. On the other hand, the Company believes that stagnating demand in the ASEAN economies and slower economic growth in China means that overseas demand trends will remain unclear in the short term. However, the shift of our customers' manufacturing bases overseas and the trend toward local procurement of parts are accelerating, and competition within the industry is escalating.
Due to this changing business environment, the IJTT Group is actively engaged in initiatives to support the objectives of management integration: (1) rapid development and expansion of overseas business, particularly in the ASEAN region; (2) evolution and development of our domestic business activities; and (3) expansion and consolidation of the customer base through new products and technologies as well as a low-cost product offering.
With regard to the overseas business, the Company began the production of forged products and components in August 2014 at PT. TJ Forge Indonesia (TJFI), established in March 2013. It began machining casted products sourced from the new PT. Asian Isuzu Casting Center (AICC) factory, which began mass production in April 2014. These products were shipped throughout Indonesia and Thailand. The Company is fully engaged in operations at TFJI and in expansions of AICC and Jibuhin (Thailand) Co., Ltd.
In the domestic business, the Company began production in June 2015 at TDF Corporation using a 12,800-ton forging press, the largest of its kind in Japan. It continues to see steady demand and has begun upgrading and modernizing its facilities. In addition, the Company is actively engaged in building efficient production systems and processes in light of the anticipated reduction of domestic production in future, along with actively securing and developing its human resources.
By developing an organizational structure for future growth and creating new value-added initiatives that leverage the combined strengths of the group in "casting, forging, and machining and assembly," we will contribute to the growth of our customers' business, making the best use of the manufacturing and craftsmanship as mentioned in the Group Philosophy. In so doing, IJTT Group as a whole will strive for the satisfaction of our customers and our community to win their trust and confidence
We humbly ask for your continued guidance, encouragement, and support.
Haruki Mizutani, Chairman and Representative Director
Masashi Harada, President and Representative Director