Tsudakoma Kogyo: Dissolves Chinese joint venture: Comany, Komatsu Matere
Tsudakoma Industries:
On August 7, Tsudakoma Industry Co., Ltd. announced that it will dissolve and liquidate a joint venture company in China, Shaanxi Province, and Xianyang City, which produces looms.
Due to the influence of corona, the future cannot be seen, and it will be reduced to two locations.
Price competition with local manufacturers,
Impact of COVID-19,
The outlook for the Chinese economy
We have determined that stable orders cannot be expected.
Manufacturing industry in Ishikawa:
Some companies are withdrawing from the Chinese market or withdrawing from the market, and there is widespread movement to revise the Chinese strategy.
Tsudakoma Industries:
It has resolved to dissolve and liquidate “History Tsuda Koma Textile Machinery (Xianyang) Co., Ltd.”
Comany (Komatsu City):
In January this year, it transferred a subsidiary in Nanjing, Jiangsu Province, which manufactures and sells partitions, to a local subsidiary.
Comani’s local bases are only two companies that handle procurement of building materials for the Japanese market.
Komatsu Matere (Nomi City):
In February of this year, he abandoned the construction of a dyeing and processing factory planned in Kai’an City, Jiangsu Province.
We have determined that we cannot expect an increase in orders in the Chinese market.
Ishikawa News | Hokoku Shimbun