Fuji Heavy Industries

Fuji Heavy Industries
Native name
 富士重工業株式会社
Public KK
Traded as TYO: 7270
OTC Pink: FUJHY
Industry transportation equipment manufacturing
defense
Headquarters Ebisu, Shibuya, Tokyo, Japan
Key people
 Yasuyuki Yoshinaga, President & CEO
Jun Kondo, Vice President
Products Subaru automobiles, aircraft, industrial engines, garbage trucks
Owner Toyota Motor (16.48%)
The Master Trust Bank of Japan (5.40%)
Japan Trustee Services Bank (4.38%)
Mizuho Bank, Ltd. (2.05%)
Suzuki Motor Corporation (1.75%)
Sompo Japan Nipponkoa Insurance Inc. (1.55%)
FHI's Client Stock Ownership (1.40%)
Toyota Marine & Nichido Fire Insurance Co., Ltd. (1.32%)
Website Fuji Heavy Industries

Fuji Heavy Industries, Ltd. (富士重工業株式会社 Fuji Jūkōgyō Kabushiki-gaisha), or FHI, is a Japanese multinational corporation and conglomerate primarily involved in aerospace and ground transportation manufacturing, known for its line of Subaru automobiles. FHI's aerospace division serves as a defense contractor to the Japanese government, manufacturing Boeing and Lockheed Martin helicopters and airplanes under license along with being a global development and manufacturing partner to both companies.

History

Fuji Heavy Industries traces its roots to the Nakajima Aircraft Company, a leading supplier of airplanes to the Japanese government during World War II. At the end of World War II, Nakajima was broken up by the Allied Occupation government under keiretsu legislation, and by 1950 part of the separated operation was already known as Fuji Heavy Industries.

FHI was incorporated on July 15, 1953 when five Japanese companies, known as Fuji Kogyo, Fuji Jidosha Kogyo, Omiya Fuji Kogyo, Utsunomiya Sharyo and Tokyo Fuji Sangyo, joined to form one of Japan's largest manufacturers of transportation equipment.

By late 1980s, the company was a major supplier of military, aerospace and railroad equipment in Japan, but 80% of its sales came from automobiles. Sales in 1989 fell 15% to US$4.3 billion.[1] In 1990, the company faced a loss of over US$500 million. Industrial Bank of Japan Ltd., the main bank of the company, asked Nissan Motor which owned 4.2% of the company to step in. Nissan sent, Isamu Kawai, the president of Nissan Diesel Motor Co., to take charge of FHI.[2] In 1991, FHI started contract-manufacturing Nissan Pulsar (Nissan Sunny in Europe) sedans and hatchbacks.[3]

Currently, FHI makes Subaru brand cars, and its aerospace division makes parts for Boeing, helicopters for the Japanese Self Defense Force, Raytheon Hawker, and Eclipse Aviation business jets.

In 2003, the company adopted the logo of its Subaru division as its worldwide corporate symbol.[4]

On October 5, 2005 Toyota Motor Corporation purchased 8.7% of FHI shares from General Motors, which had owned 20.1% since 1999.[5] GM later divested its remaining 11.4% stake on the open market to sever all ties with FHI. FHI previously stated there might have been 27 million shares (3.4%) acquired before the start of trading by an unknown party on October 6, 2005, and speculation suggested a bank or perhaps another automaker was involved. After the purchase, Toyota announced a contract with Subaru on March 13, 2006 to use the underutilized Subaru manufacturing facility in Lafayette, Indiana, USA as well as plans to hire up to 1,000 workers and set aside an assembly line for the Camry, beginning in the second quarter of 2007.

In June 2014, the company entered into a contract with Boeing, as one of five major Japanese companies contracted, to build parts for Boeing's 777X aircraft.[6]

In May 2016, Fuji Heavy Industries announced that it would change its name to Subaru Corporation pending approval by its shareholders, with the change planned to go into effect in April 2017.[7][8]

Divisions

FHI has four main divisions:

Leadership

Past presidents

Bus models

A 5E body with Isuzu Cubic chassis
A 7E body articulated bus with Volvo B10M chassis
A 1M body with Nissan Diesel Space Arrow chassis

Aircraft

JGSDF AH-64D (DJP) attached to the 1st Airborne Brigade January 2012

References

  1. ↑ Former Nissan Executive Will Head Fuji LA Times Jun 29, 1990
  2. ↑ For Bankrupt Companies, Happiness Is A Warm Keiretsu by Robert Neff Bloomberg Oct 25 1992
  3. ↑ Fuji To Build Nissan Models Chicago Tribune Jan 27 1991
  4. ↑ "Fuji Heavy Industries Adopts Subaru's Six-Star Emblem as New Corporate Symbol". Fuji Heavy Industries. 15 July 2003. Retrieved 2008-06-11.
  5. ↑ Shimizu, Kaho (2005-10-06). "Toyota to buy Fuji shares in GM selloff". The Japan Times.
  6. ↑ "Boeing enters pact with Japanese consortium for supply of 777X plane parts". Chicago Chronicle. Retrieved 12 June 2014.
  7. ↑ Subaru Parent Fuji Heavy Industries Changes Its Name to Subaru Corp.
  8. ↑ Fuji Heavy Industries Ltd. To Change Company Name To Subaru Corporation
  9. ↑ Aircraft Maintainers Demonstrate MV-22B Osprey Systems at Atsugi April 23, 2016 DVIDS Retrieved November 14, 2016
  10. ↑ Osprey noise levels measured at GSDF’s Kisarazu camp in Chiba Prefecture October 25, 2016 Japan Times Retrieved November 14, 2016
  11. ↑ Polaris and Fuji: A Long History of a Powerful Partnership
  12. ↑ http://www.fhi.co.jp/english/outline/section/aero.html
  13. ↑ Foreign firms bid for $2 billion chopper deal The Japan Times/Reuters Accessed 10th October 2014
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