TOKYO, April 23 /PRNewswire-Asia/ -- Johnson Controls, a leading global supplier of automotive interior systems and electronics, and Tachi-S Co., Ltd. have agreed to form a strategic partnership to pursue, develop and manufacture certain global Japanese automotive seat businesses. The newly formed alliance will be led by a management committee represented by both companies. As part of the link up, Johnson Controls will acquire a 5% equity stake of Tachi-S to become the single largest shareholder.
Currently, Johnson Controls and Tachi-S have cooperation through various joint ventures in North America, Japan and China.
"Tachi-S brings extensive experience working with Japanese automakers. By teaming up with Tachi-S, Johnson Controls will be able to better serve our Japanese customers," said Jeffrey Edwards, group vice president, Johnson Controls Automotive Experience. "The equity ownership demonstrates our long term commitment to this alliance and our focus on Japanese automaker business opportunities."
"Johnson Controls has been a partner with Tachi-S since the 1980s. We are proud to strengthen our strategic alliance relationship with Johnson Controls to increase our global competitiveness," said Hiroshi Taguchi, president, Tachi-S.
About Tachi-S
Tachi-S is a listed company on the Tokyo Stock Exchange. Established in 1954, Tachi-S is a global seat system manufacturer supplying most major Japanese automakers. Tachi-S and its subsidiaries operate in North America, Europe and Asia.
Johnson Controls is a global leader in automotive seating, overhead systems, door and instrument panels, and interior electronics. We support all major automakers in the differentiation of their vehicles through our products, technologies and advanced manufacturing capabilities. With more than 200 plants worldwide, we are where our customers need us to be. Consumers have enjoyed the comfort and style of our products, from single components to complete interiors, in over 200 million vehicles.
