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KUALA LUMPUR, Sept 21 -- Tokyo Stock Exchange-listed Taiyo Yuden Co Ltd’s subsidiary, Taiyo Yuden (Sarawak) Sdn Bhd, is expanding its multilayer ceramic capacitors manufacturing facility in Kuching as a strategic move to increase its production capacity in the ASEAN region.
In a statement today, the Malaysian Investment Development Authority (MIDA) said this marked another milestone for Malaysia as the preferred hub for global manufacturers and an ASEAN gateway.
It said the expansion plan was discussed during the Trade and Investment Mission (TIM) to Tokyo in April 2021 led by Senior Minister and the International Trade and Industry Minister Datuk Seri Mohamed Azmin Ali.
“Taiyo Yuden’s decision to inject RM680 million capital investments for their new facility reflects booming investors’ confidence in our ecosystem’s readiness to support global production.
“This achievement demonstrates the success of the government’s aggressive and effective strategies to welcome and facilitate high quality FDIs,” Mohamed Azmin said.
He said MIDA has been working closely with Taiyo Yuden in ensuring a smooth implementation of the company’s expansion project that would generate an additional 2,000 job opportunities.
Meanwhile, Taiyo Yuden director and executive vice-president Shinji Masuyama said the company anticipated higher demand for multilayer ceramic capacitors in the future due to the advancement of technologies in automobiles, electrical and electronics, 5G smartphones and communications infrastructure.
“The construction of this new plant is an important investment agenda under the group’s Medium-term Management Plan 2025.
“More than ever, we will strive continuously to develop as a business enterprise that is trustworthy to all the stakeholders, including our customers, local communities in Malaysia and employees,” he said.
Taiyo Yuden’s production site in Sarawak produces multilayer ceramic capacitors, which are essential components for the creation of miniature and high-performance electronic devices.
Since 1994, the company has employed 4,600 personnel in their manufacturing plant.
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