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Toyo Advanced Technologies (Head Office: Minami-ku, Hiroshima; President: Yuichi Hayano) established a wholly-owned local subsidiary "Shanghai Toyo Advanced Technologies Co., Ltd." in Shanghai, P.R.China. The new subsidiary commenced its business operations on October 9th.

We had been providing operational support for the machine tool business in China through our representative office in Shanghai, but we decided to establish a local subsidiary in order to further improve customer satisfaction and to penetrate our brand in Chinese market.

In China, the semiconductor, consumer electronics, and automobile markets are expected to continue to expand, and demand is anticipated to grow not only for internal grinding machines and semiconductor manufacturing equipment, where we have particular strengths, but also for gear grinding machines used in electric vehicle (EV) parts. With the operation of the local subsidiary, we will enhance our after-sales service and sales activities in China, contributing to the productivity improvement of our customers and promoting the development of new customers.

Outline of the New Company

Company name	Shanghai Toyo Advanced Technologies Co., Ltd.
Founded	May 2023
Registered capital	RMB 2,000,000
Capital structure	100% funded by Toyo Advanced Technologies Co., Ltd.
Chairman	Toshimitsu Iwai
President	Takamitsu Hamasaki
Head Office	Room 1109-1110, Holiday Inn Shanghai Pudong, No.899 Dongfang road, Shanghai 200122, China
Business	Machine tool after-sales service and sales
Employees	5
Phone number	+86-21-6270-0301