Japanese company Yokowo Co Ltd has set up its automotive wiring harness and components manufacturing facility in the Philippines after a year-long due diligence process in the country.
Yokowo Co Ltd has registered a 100% wholly-owned subsidiary company in the Philippines under the name Yokowo Manufacturing of the Philippines. The company will invest PHP 230 million (USD 4.8 million) for the 3.7-hectare production plant at the Hermosa Ecozone Industrial Park in Bataan. Yokowo Co Ltd aims to commence its operation in the country by April 2022 with around 800 employees.
Yokowo Co Ltd offers innovative high-tech products to manufacturers worldwide in the advancing electronics, electrical machinery, and automotive industries. It describes itself as a specialist in manufacturing antennas, fine connectors, microwaves, and advanced devices for the automotive, semiconductor testing systems, mobile device, and advanced medical device sectors.
This is the second investment in wiring harness production in the Philippines this year. The first was from Sumitomo Wiring Systems, another Japanese company that has broken ground for its new wiring factory in Binalonan, Pangasinan last September and which is anticipated to provide 10,000 employment opportunities.
(Sources: Manila Bulleting; Philippine Daily Inquirer; Manila Bulletin)