Japanese model maker Tamiya expected to invest P2 billion in expanding Cebu facility
TAMIYA, Inc., a Japanese manufacturer of plastic scale models and radio-control products for hobbyists, confirmed plans to invest P2 billion in an expansion of its Cebu operation this year, the Department of Trade and Industry (DTI) said.
In a statement on Tuesday, the DTI said Tamiya Chairman and President Shunsaku Tamiya confirmed the company’s widely reported decision to set up a new facility at the Cebu Light Industrial Park, which is targeted to start operations by September 2023. The facility will add to the company’s current operation in Cebu.
Previous reports had estimated the planned investment at P1.5 billion.
The DTI said the decision to invest was reported by Commercial Counselor Dita Angara-Mathay of the Philippine Trade and Investment Center in Tokyo.
“The new plant and building (will be) 22,579 and 30,765 square meters (sq.m.) respectively, which will generate 300 additional jobs and increase output by 5% over three years and overall capacity by 20%,” the DTI said.
According to the DTI, Tamiya’s annual production for export is valued at $30 million, of which 80% is produced in the Philippines.
“While Tamiya’s sizeable overseas regional operations span the United States (California) and Europe (Germany), Tamiya has only one production facility outside of Japan. The company’s factory in the Philippines, specifically in Mactan, Cebu is housed inside a 40,000 sq.m. facility with over 1,200 workers engaged in model assembly,” the DTI said.
Trade Secretary Ramon M. Lopez said Tamiya’s planned investment showcases the quality and efficiency of Filipino workers.
“The fact that Tamiya has been operating in the country for about 30 years and is now moving forward with expansion plans despite the challenges of the pandemic, is testament to the enabling environment that President Rodrigo R. Duterte together with his economic managers have set up for foreign direct investors,” Mr. Lopez said. — Revin Mikhael D. Ochave
