Sep. 28, 2007
Logistics Management Company Starts Operations in China
FAW-Guangzhou Automobile-TMC Joint Venture Targets Efficiency, Lower Costs
Tokyo ― TOYOTA MOTOR CORPORATION (TMC) announced that Tong Fang Global Logistics Co., Ltd. (TFGL), a logistics management joint venture it established with China FAW Group Corporation (FAW) and Guangzhou Automobile Group Co., Ltd. (Guangzhou Automobile) in July, began operations today in the Tianjin Economic and Technological Development Zone. This is the first joint venture among FAW, Guangzhou Automobile and TMC.
TFGL aims to increase efficiency and reduce costs by consolidating logistics operations, which, until now, were handled by each Toyota affiliate in China contracting individually with logistics companies. TFGL will also combine the logistics know-how cultivated separately thus far by FAW, Guangzhou Automobile and TMC and will undertake planning, computer-network-based logistics management and logistics consulting to help improve the quality of logistics at local distribution companies.
| Company name | Tong Fang Global Logistics Co., Ltd. (TFGL) |
| Location | Tianjin Economic and Technological Development Zone |
| Representatives |
Chairman: Jin Yi (FAW)―part-time
President: Nobuhito Saito (TMC)―full time |
| Established/Period of business | July 16, 2007/20 years |
| Capitalization | 5 million U.S. dollars |
| Equity participation | TMC: 40%, FAW: 35%, Guangzhou Automobile: 25% |
| Number of employees | Approx. 40 (at start of operations on October 1, 2007) |
| Main business | Logistics for Toyota affiliates in China (including planning and coordination), logistics consulting |
| Targeted products | Completed vehicles (vehicles manufactured in China and imported vehicles), production parts, replacement parts |
| Starting date of business | October 1, 2007 |
