JTEKT

JTEKT Overview

Company Headquarters: Osaka, Japan

Founded: 1921

Workforce: ~40,756

Company Working: JTEKT, a subsidiary of Toyota Motors, is engaged in manufacturing and selling steering systems, driveline components, bearings, machine tools, electric control devices, and home accessory equipment. The company offers steering systems, such as electric power steering, hydraulic power steering, and unit components, driveline components, engine and peripheral parts, transmission, and wheels. It also offers sensor systems and pressure transducers for welding guns and indicators as well as for medical equipment. The company also offers bearings, oil seals, driveshafts, and other products for applications in automobiles, construction/transportation/agricultural machinery, steel production equipment, machine tools, renewable energy, medical equipment, aircraft, and railroad vehicles. It also offers products for office, home, and leisure applications. Furthermore, it provides machine tools such as grinders and machining centers and mechatronic products. The company operates in Japan, India, China, and several countries across Asia, North America, South America, and Europe.

Strategy

JTEKT strategizes to supply environmental-friendly products excelling in fuel-efficiency and efficiency and inspire society through products that are safe and reliable. The company aims to provide the best in quality, technology, and service based on concepts derived from the global market, obtain the satisfaction and trust of customers, and fulfill its mission of contributing to environmental protection.

Company Snapshot

$1,591.5M

Revenue

40,756

Employees

1921

Founded

Osaka, Japan

Headquarters

SWOT Analysis

Strengths

Strong presence in APAC
To supply products that reflect the requirements of specific regions, JTEKT established a technical center in Brazil
Higher sales of automobiles in Japan because of the eco-car subsidy

Weaknesses

Smaller business units
Smaller business units and profitability fluctuations
Issue-bearing transactions that allegedly violated the Antimonopoly Act of Japan and the fair competition laws of other countries hurt the brand image

Opportunities

Expansion in emerging economies
Growing economies can be tapped

Threats

Increasing cost of operation
Increasing costs of operations can reduce the margins

Key Developments

Date	Approach	Development
May 2020	Acquisition	KOYO CANADA INC., a subsidiary of JTEKT, acquired the assets of a Halifax, Nova Scotia R&D facility, which was previously owned by KSR International Inc. This acquisition strengthened the company’s global ECU development for vehicle steering and driveline product
November 2017	Product Development	JTEKT Corporation began the production of its new steering systems, Intermediate-EPS (I-EPS), for Utility Task Vehicles. The company decided to install Electric Power Steering (EPS) instead of HPS in UTVs. EPS can control steering torque to respond to driving speed. For the first time, JTEKT’s EPS systems have been implemented on Kubota RTV-XG850, a new UTV

Product Offering

JTEKT
- Rack Parallel type Electric Power Steering system (RP-EPS)
- Dual Pinion type Electric Power Steering system (DP-EPS)
- Column type Electric Power Steering system (C-EPS)
- Torque Vectoring

Financial Performance

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