TOKYO--MISUMI Group announced today that it is fully committed to entering the Mexican market, where high growth is anticipated, to further expand business in the Americas region. Beginning in April 2018, the Mexican subsidiary will support local manufacturing companies.
The automotive industry continues to shift production to Mexico based on the lower costs of production. In addition, Japanese companies have been aggressively investing in the region since 2000 to better service the North American market. In a response to these market conditions, MISUMI will be establishing a local subsidiary in Querétaro City, Mexico, where there is already a concentration of Japanese manufacturers. MISUMI Mexico will offer high quality factory automation components, die and mold components, electrical supplies, tools, and MRO products to meet the diverse needs of the region with local inventory predicated on reliable, quick delivery.
Through its new subsidiary, MISUMI will be able to provide one day shipping on local inventory, and shorten the delivery by up to 10 days on products imported from Japan. MISUMI will continue to improve its manufacturing capabilities to enhance the QCT (high Quality, low Cost, and reliable, quick delivery Time) model, and expand the distribution of third-party brands to provide the best overall value to manufacturers in Mexico, thereby contributing to reducing procurement inefficiencies.
According to Representative Director, President, and CEO, Ryusei Ono, “There is no business capable of supplying all the manufacturing equipment, manufacturing components, and auxiliary production materials used by these manufacturers, and there is a growing need to consolidate this type of procurement. MISUMI Mexico will meet this need,” Ono continues, “with MISUMI’s strength of ’reliable, quick delivery.’”
Outline of the subsidiary in Mexico to be established
Company: MISUMI Mexico S. de R. L. de C. V.
Location: Querétaro City, Querétaro
Investors: MISUMI USA (99%), MISUMI Investment USA (1%)
Capital: Yen 450 million
Number of employees: 30 (expected as of April 2018)
Business activities: Manufacturing and sale of Factory Automation components; Die and mold components; and Auxiliary Production materials