JAPANESE electronics manufacturer MinebeaMitsumi, Inc. is undertaking a P4-billion expansion project in Naga City, Cebu, the Department of Trade and Industry (DTI) said.
In a statement on Tuesday, the DTI said that Philippine Trade and Investment Center-Tokyo Commercial Counselor Dita Angara-Mathay reported the company’s expansion proposal.
According to Ms. Angara-Mathay, the Japanese firm plans to upgrade the production of optical image stabilizer components used in smartphones.
MinebeaMitsumi also operates facilities in Santo Tomas, Batangas; Mariveles, Bataan, and Danao City, Cebu.
The DTI said full operations at the expanded operation are expected to begin by March.
“The expansion project will require incremental workers approximating 30% of the current aggregate human resource complement in the company’s three factories in Santo Tomas, Batangas, Mariveles, Bataan, and Danao City in Cebu,” the DTI said.
“In terms of economic importance, the company holds the distinction of being one of the Philippines’ biggest exporters, employers, and tax contributors. It is part of an elite roster of foreign direct investors whose cumulative investments in the Philippines amount to over $1 billion,” the DTI said.
MinebeaMitsumi also makes miniature ball bearings, class stepping motors, cluster tactile switches, guide plates for LEDs, and backlights for LCDs.
“As a manufacturer of ultra-precision components, MinebeaMitsumi strives to construct a system for stable supply by taking advantage of the worldwide manufacturing bases while constructing a safe and secure system for production management,” MinebeaMitsumi President Yoshihisa Kainuma said.
“With a workforce of over 70,000 in Southeast Asia, the Philippines is currently the second largest production base of the company after Thailand, with over 26,000 workers,” the DTI said. — Revin Mikhael D. Ochave