Latest news with #MindaCorporation
Business Standard
13 hours ago
- Automotive
- Business Standard
Minda Corporation Forms Joint Venture with Toyodenso of Japan for Advanced Automotive Switches
NewsVoir Delhi NCR [India], June 11: Minda Corporation Limited ("Minda Corp" or the "Company"; NSE: MINDACORP, BSE: 538962), the flagship company of the Spark Minda Group, today announced a Joint Venture with Japan-based Toyodenso Co. for Advance automotive switches for the Indian market. The partnership will provide end-to end solutions including design, development, manufacturing and marketing of Automotive Switches for two-wheelers, Passenger Cars and other automotive segment for the Indian market. Minda Corporation will have majority stake in the newly formed venture with an investment in the agreed shareholding ratio of 60:40. The new Joint venture has already received orders from customers in India. This greenfield plant will be set up in Noida, Uttar Pradesh and is expected to commence operations by 2nd half of FY 2026-27. This partnership is strategically aligned to cater to the rising demand for advanced switches in the Indian automotive sector and in line with the company synergistic product portfolio and localization of new products and technologies for the customers. Through this partnership, Toyodenso will bring new technologies and advanced engineering capabilities while Minda Corporation will contribute with its deep expertise in localised manufacturing, and robust supply chain ecosystem etc. Mr. Ashok Minda, Chairman & Group CEO, Minda Corporation Limited, said, "We are very excited and privileged to partner with Toyodenso, a Global Japanese company with rich legacy of technological innovation. This partnership marks a pivotal milestone in our journey to drive smart mobility solutions while fostering indigenous manufacturing by integrating globally recognized technologies into India's automotive ecosystem." Mr. Kiyoshi Koide, President, Toyodenso Co., Ltd., stated, "Toyodenso aims to stabilize its business base and will work with SPARK MINDA to develop the Indian market to focus on the manufacturing and sales of automotive parts in India, which is a growing market." Minda Corporation is one of the leading automotive component manufacturing companies in India with a pan-India presence and significant international footprint. The Company was incorporated in 1985. Minda Corporation is the flagship company of Spark Minda, which was part of the erstwhile Minda Group. The Company has a diversified product portfolio that encompasses Vehicle Access, Information and Connected Systems, Electrical Distribution systems, Die casting, Advance Electronics and Powertrain products for Automotive OEMs. These products cater to 2/3 wheelers, passenger vehicles, commercial vehicles, off-roaders, and after-market. The Company has a diversified customer base, including Indian and global original equipment manufacturers. Toyodenso Co., Ltd. founded in 1947. Toyodenso Co., Ltd. is a Japanese manufacturer specializing in automotive, motorcycle, and power products, headquartered in Minato-ku, Tokyo. The company operates multiple domestic and international facilities, including in the U.S., China, Thailand, Indonesia, Vietnam, and Germany. With over 9,000 employees and annual sales exceeding 100 billion yen in previous fiscal year. Toyodenso serves and supplies high-quality electrical components to major clients such as Honda, Toyota, Yamaha, Kawasaki, and Suzuki. The company is known for its focus on innovation, quality, and global collaboration in the automotive electronics sector.
Fashion Value Chain
16 hours ago
- Automotive
- Fashion Value Chain
Minda Corporation Forms Joint Venture with Toyodenso of Japan for Advanced Automotive Switches
Minda Corporation Limited ('Minda Corp' or the 'Company'; NSE: MINDACORP, BSE: 538962), the flagship company of the Spark Minda Group, today announced a Joint Venture with Japan-based Toyodenso Co. for Advance automotive switches for the Indian market. L to R Mr Noriharu Takeshita – Mr Kiyoshi Koide – Mr Ashok Minda – Mr Aakash Minda during the JV ceremony The partnership will provide end-to end solutions including design, development, manufacturing and marketing of Automotive Switches for two-wheelers, Passenger Cars and other automotive segment for the Indian market. Minda Corporation will have majority stake in the newly formed venture with an investment in the agreed shareholding ratio of 60:40. The new Joint venture has already received orders from customers in India. This greenfield plant will be set up in Noida, Uttar Pradesh and is expected to commence operations by 2nd half of FY 2026-27. This partnership is strategically aligned to cater to the rising demand for advanced switches in the Indian automotive sector and in line with the company synergistic product portfolio and localization of new products and technologies for the customers. Through this partnership, Toyodenso will bring new technologies and advanced engineering capabilities while Minda Corporation will contribute with its deep expertise in localised manufacturing, and robust supply chain ecosystem etc. Mr. Ashok Minda, Chairman & Group CEO, Minda Corporation Limited, said, 'We are very excited and privileged to partner with Toyodenso, a Global Japanese company with rich legacy of technological innovation. This partnership marks a pivotal milestone in our journey to drive smart mobility solutions while fostering indigenous manufacturing by integrating globally recognized technologies into India's automotive ecosystem.' Mr. Kiyoshi Koide, President, Toyodenso Co., Ltd., stated, 'Toyodenso aims to stabilize its business base and will work with SPARK MINDA to develop the Indian market to focus on the manufacturing and sales of automotive parts in India, which is a growing market.' About Minda Corporation (BSE:538962; NSE: MINDACORP) Minda Corporation is one of the leading automotive component manufacturing companies in India with a pan-India presence and significant international footprint. The Company was incorporated in 1985. Minda Corporation is the flagship company of Spark Minda, which was part of the erstwhile Minda Group. The Company has a diversified product portfolio that encompasses Vehicle Access, Information and Connected Systems, Electrical Distribution systems, Die casting, Advance Electronics and Powertrain products for Automotive OEMs. These products cater to 2/3 wheelers, passenger vehicles, commercial vehicles, off-roaders, and after-market. The Company has a diversified customer base, including Indian and global original equipment manufacturers. About Toyodenso Co., Ltd. Toyodenso Co., Ltd. founded in 1947. Toyodenso Co., Ltd. is a Japanese manufacturer specializing in automotive, motorcycle, and power products, headquartered in Minato-ku, Tokyo. The company operates multiple domestic and international facilities, including in the U.S., China, Thailand, Indonesia, Vietnam, and Germany. With over 9,000 employees and annual sales exceeding 100 billion yen in previous fiscal year. Toyodenso serves and supplies high-quality electrical components to major clients such as Honda, Toyota, Yamaha, Kawasaki, and Suzuki. The company is known for its focus on innovation, quality, and global collaboration in the automotive electronics sector. For further information on Minda Corporation visit
India Today
17 hours ago
- Automotive
- India Today
Minda Corporation forms joint venture with Toyodenso for advanced automotive switches
Minda Corporation Limited, the flagship company of Spark Minda Group has entered a joint venture with Toyodenso Co. for advanced automotive switches for the Indian market. This partnership will be involved in the design, development, manufacturing and marketing of automotive switches for two-wheelers, passenger cars and other automotive segments of the Indian market. A majority stake in the venture will be held by the Minda Corporation with the shareholding ratio fixed at 60:40. With orders already received from customers, the greenfield plant will be set up in Noida and is slated to commence operations by the second half of FY 2026– firm claims that the partnership is 'strategically aligned to cater to the rising demand for advanced switches in the Indian automotive sector'. It further said that the venture is 'in line with the company's synergistic product portfolio and localisation of new products and technologies for the customers'. Toyodenso will bring new technologies and advanced engineering capabilities while the Minda Corporation will contribute with its expertise in localised manufacturing, and a robust supply chain ecosystem Minda, Chairman & Group CEO, Minda Corporation Limited, said, 'We are very excited and privileged to partner with Toyodenso, a Global Japanese company with rich legacy of technological innovation. This partnership marks a pivotal milestone in our journey to drive smart mobility solutions while fostering indigenous manufacturing by integrating globally recognized technologies into India's automotive ecosystem.'advertisement Kiyoshi Koide, President, Toyodenso Co., Ltd., stated, 'Toyodenso aims to stabilize its business base and will work with SPARK MINDA to develop the Indian market to focus on the manufacturing and sales of automotive parts in India, which is a growing market.'Subscribe to Auto Today Magazine
Business Standard
18 hours ago
- Automotive
- Business Standard
Minda Corporation edges higher after signing JV pact with Japanese firm Toyodenso
Minda Corporation added 2.80% to Rs 61.74 after the company announced a joint venture with Japan-based Toyodenso Co. for advance automotive switches for the Indian market. The partnership will provide end-to-end solutions including design, development, manufacturing and marketing of automotive switches for two-wheelers, passenger cars and other automotive segment for the Indian market. Minda Corporation will have majority stake in the newly formed venture with an investment in the agreed shareholding ratio of 60:40. The new Joint venture has already received orders from customers in India. This greenfield plant will be set up in Noida, Uttar Pradesh and is expected to commence operations by 2 nd half of FY 202627. This partnership is strategically aligned to cater to the rising demand for advanced switches in the Indian automotive sector and in line with the company synergistic product portfolio and localization of new products and technologies for the customers. Ashok Minda, chairman & group CEO, Minda Corporation, said: We are very excited and privileged to partner with Toyodenso, a Global Japanese company with rich legacy of technological innovation. This partnership marks a pivotal milestone in our journey to drive smart mobility solutions while fostering indigenous manufacturing by integrating globally recognized technologies into Indias automotive ecosystem. Minda Corporation is one of the leading automotive component manufacturing companies in India with a pan India presence and significant international footprint. It is the flagship company of Spark Minda, which was part of the erstwhile Minda Group. The company has a diversified customer base including Indian and global original equipment manufacturers and Tier-1 customers. The company's consolidated net profit declined 26.46% to Rs 52.03 crore despite an 8.75% increase in revenue to Rs 1321.26 crore in Q4 FY25 as compared with Q4 FY24.
Time of India
18 hours ago
- Automotive
- Time of India
Minda Corp forms JV with Japan's Toyodenso to make advanced automotive switches in India
Minda Corporation , the flagship company of the Spark Minda Group, has announced a strategic joint venture (JV) with Japan-based Toyodenso Co., Ltd. to design, develop, manufacture, and market advanced automotive switches for the Indian market. Under the terms of the agreement, Minda Corporation will hold a majority 60 per cent stake in the newly formed JV, while Toyodenso will own the remaining 40 per cent . The partnership is aimed at catering to the rising demand for advanced switching systems across two-wheelers, passenger cars, and other automotive segments in India. The JV has already secured initial orders from Indian customers. A greenfield manufacturing facility is planned to be established in Noida , Uttar Pradesh, and is expected to be operational by the second half of FY 2026–27. 'This partnership marks a pivotal milestone in our journey to drive smart mobility solutions while fostering indigenous manufacturing by integrating globally recognized technologies into India's automotive ecosystem,' said Ashok Minda, Chairman and Group CEO of Minda Corporation. 'We are very excited and privileged to partner with Toyodenso, a global Japanese company with a rich legacy of technological innovation.' To leverage advanced engineering capabilities The collaboration will leverage Toyodenso's cutting-edge technologies and advanced engineering capabilities, while Minda Corp will contribute with its local manufacturing expertise and strong supply chain network. Commenting on the alliance, Kiyoshi Koide, President, Toyodenso Co., Ltd., said, 'Toyodenso aims to stabilize its business base and will work with SPARK MINDA to develop the Indian market, focusing on manufacturing and sales of automotive parts in this growing region.' The JV aligns with Minda Corp's strategy to strengthen its synergistic product portfolio and localise new technologies in line with the government's ' Make in India ' initiative.
