Tamiya to invest P2 billion in PH growth

27 April 2022

According to the Philippine Trade and Investment Center in Tokyo, which is a component of the Department of Trade and Industry in the Philippines, the Japanese company Tamiya Inc. would spend P2 billion in the Cebu Light Industrial Park.

According to a statement that was released on Tuesday by PTIC Tokyo Commercial Counselor Dita Angara-Mathay, Tamiya’s Chairman and President Shunsaku Tamiya verified the investments. The statement was made public today.

Over the next three years, Tamiya’s new factory and building, which have respective square footages of 22,579 and 30,765 square meters (sqm), will result in the creation of 300 new employment and an increase in output of 5%.

In addition to this, the extension will make it possible for the company to increase its overall capacity by an additional 20%.

The annual export production of Tamiya to invest is currently valued at $30 million, with the Philippines contributing to the production of 80% of the company’s total output.

Tamiya to invest to begin operations in the new factory in the Philippines by the end of September 2023.

Tamiya is a Japanese firm that specializes in the production of plastic and radio-controlled models of various types of vehicles, including sports and racing automobiles, motorcycles, aircraft, ships, and battle tanks.

Tamiya only has one production plant outside of Japan, which is located in California, although the company also has activities in the United States and Europe (Germany).

The manufacturing operated by the corporation in the Philippines, specifically in Mactan, Cebu, is a facility that spans 40,000 square meters and employs roughly 1,200 people in model assembly.

“The fact that Tamiya has been operating in the Philippines for nearly 30 years and is now expanding despite the challenges of the pandemic is a testament to the enabling environment that President Rodrigo Roa Duterte, together with his economic managers, have created for foreign direct investors,” Trade Secretary Ramon Lopez said. “The fact that Tamiya has been operating in the Philippines for nearly 30 years and is now expanding despite the challenges of the pandemic is a testament to the enabling environment that

“We are thrilled that a firm known for its ‘First in Quality Around the World’ mentality has entrusted our people with such a huge responsibility,” he continued. “The quality, efficiency, and productivity of Filipino workers will always be the Philippines’ best and most competitive resource.”