SYNOPSIS
TMEIC has been maximizing synergies in its core domains, including industrial systems, power electronics equipment, and rotating machinery, and is now expanding its business areas by increasing its penetration into the renewable energy field along with strengthening its global business
TMEIC Group Vision and Global Business
Toshiba Mitsubishi-Electric Industrial Systems Corporation (“TMEIC”; President & CEO Akira Kawaguchi) was established through the integration of the industrial businesses of Toshiba Corporation and Mitsubishi Electric Corporation in 2003. Since then, based on the technologies and business foundation inherited from the two companies, TMEIC has been maximizing synergies in its core domains, including industrial systems, power electronics equipment, and rotating machinery, and is now expanding its business areas by increasing its penetration into the renewable energy field along with strengthening its global business.
Through these efforts, TMEIC has steadily grown over the years, with global net sales up from INR 100 billion since the time of its establishment to INR 130 billion.
TMEIC’s Management Strategy
TMEIC’s medium-term management policy has a strong focus on “growth.” The key to this lies in the Group’s capabilities regarding carbon neutrality and the expansion of global business.
TMEIC boasts a variety of products and technologies that can contribute to the creation of a carbon neutral society, backed by a proven track record in system construction and equipment delivery in the industrial field and beyond. In terms of global business, TMEIC now has bases all over the world, and on the manufacturing front, has expanded into India, the United States, and China to create a strong foundation for business development. The hubs work closely together to boost business and promote strong global ties and resource management. As a result of these endeavours, sales from overseas sites have more than doubled from INR 20 billion in 2016 to INR 60 billion at present.
Based on a plan to continue driving high growth, TMEIC aims to achieve global net sales of INR 280 billion in 2030, over double the current INR 130 billion amount, by bolstering market responsiveness through a process of localization, in which the functions of each base are strengthened and by maximizing use of its global network.
Contributing to the Realisation of Carbon Neutrality
The concept of carbon neutrality provides a significant business opportunity. TMEIC has extensive experience and a variety of product groups that can be leveraged to resolve challenges facing customers in their pursuit to become carbon neutral.
In doing so, TMEIC established the Energy Resource Solutions (ERS) project in February 2021 as a dedicated effort to accelerating this project, working closely with customers to devise the means to achieve carbon neutrality based on their needs.
The construction of production plants for green hydrogen, a next-generation energy, serves as a key example, with TMEIC modernising and developing and providing rectifiers as a DC electric power supply for these facilities as some of their core parts. TMEIC is therefore involved in many different areas of carbon neutrality and will continue to take on new challenges toward its realisation.
Above all, TMEIC’s social mission is to contribute to the resolution of issues affecting the global community, beginning with the realisation of carbon neutrality.
Global Business Strategy: Worldwide “One TMEIC” Operations
TMEIC strives for optimum operations through the concept “One TMEIC” based on a global network. As a member of the Group, TMEIC Industrial Systems India Private Limited (TMEIC India) serves as a key example in becoming a global production base for electric motors and power electronics equipment, and products are shipped via global sales hubs. Elsewhere, photovoltaic inverter systems for the U.S. market are developed in Japan, manufactured in India, and sold and installed in the United States.
TMEIC is also building a global development network. Although Japan and the United States remain key centres, TMEIC India has a proven track record of development-related support (products and technologies) in India for more than a decade, playing a critical role in promoting global development.
The TMEIC India factory includes rooftop solar panels and is now a zero-emission facility. The factory also includes the ESS Lab where tests are conducted to obtain knowledge in energy storage systems (ESS), a field manifesting strong demand worldwide.
Expectations for India Business
TMEIC India products and services support the business activities of many major companies in various fields in the country, including the steel industry, general industrial applications, and renewable energy. In order to expand business in India, which has one of the world’s fastest-growing economies, it is essential to swiftly develop, manufacture, and deliver products and services that the market demands.
To accelerate this undertaking, a new large-scale warehouse has been built at the TMEIC India factory. Efforts will continue to be implemented to strengthen this facility as a key supply base not only for India but for the entire world.
In addition, TMEIC seeks to further bolster the development function in India and reinforce its global development network. TMEIC will make effective use of the young, highly skilled human resources in India based on a global outlook in order to enhance product competitiveness. Through these advancements, TMEIC India aims to continue contributing to industry and society as a leading brand of industrial systems supporting the growth of India.
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