Faltec

Basic Information

Stock Code
7215
Industry
Transportation Equipment
Category Detail
Auto Parts
Prefecture
Kanagawa Prefecture
Establishment Year
April 2004
Listing Year
March 2013
Official Website
https://faltec.co.jp/
TSE Information
TSE Information
Yahoo! Finance
Yahoo! Finance
Other Companies
Toyota Boshoku, J-MAX, Seiren, Nishikawa Rubber Industry, J-Techt, Toa Seisakusho, Nippa, GMB, Taiheiyo Industrial, Toyoda Gosei, Murakami Kaimeido, T-Estec, Nankai Plywood

Overview

Faltec is an automotive parts manufacturer founded in 2004 and based in Kanagawa Prefecture, primarily serving the Nissan Group as its main customer and providing high-quality interior parts centered on seats, making it an industry注目 company.

Current Situation

Faltec has steadily grown sales in the automotive parts sector in fiscal 2023, with Nissan accounting for about 35% of total sales. Its main products are seat-related interior parts, which play an important role in supporting comfort and safety inside vehicles. As a member of the TPR Group, it strives to improve its technological capabilities and leverages unique material technologies and design strengths compared to competitors. It is also advancing customer diversification, differentiating itself from competitors such as Toyota Boshoku and Toyoda Gosei. In recent years, it has focused on developing environmentally considerate products, promoting the use of recycled materials and the introduction of VOC reduction technologies. It is also investing in building a sustainable production system and has positioned the expansion of interior parts for EVs as a medium- to long-term growth strategy. In the future, it plans to capture the recovery of new car markets domestically and internationally and the trend toward vehicle lightweighting, strengthening its product lineup to establish a stable revenue base. The company's financial position is sound, with excellent fundraising capabilities and active promotion of research and development investments. On the personnel front, it is strengthening the recruitment of new engineers to bolster innovative product development capabilities.

Trivia

Interesting Facts

  • Leverages material technology strengths as TPR Group subsidiary
  • Achieved TSE First Section listing just 10 years after founding
  • Over 35% share of seat parts to Nissan Group
  • Operates advanced molding technology factory in Kanagawa Prefecture
  • Actively promoting carbon neutral compliant parts development
  • Direct transactions with numerous domestic and international automakers
  • President is former Toyota Boshoku executive, unique management team
  • Also handles sub-brand expansion for car accessories
  • Robot introduction advancing in in-house manufacturing sites
  • High ratio of female engineers over 30%
  • Promoting personnel policies for long-term employment
  • R&D department has installed proprietary material testing equipment
  • Rising attention despite not being Nikkei 225 constituent
  • High profitability structure despite small scale
  • Aggressive sales posture for new market development

Hidden Connections

  • Enhances manufacturing efficiency through integration with TPR Group's material supply
  • Strong transaction relationship with Nissan based on long-term joint development
  • Technology sharing exists with competitors Toyota Boshoku and Toyoda Gosei through industry collaboration
  • Conducts joint research with local Kanagawa Prefecture universities to develop technical talent
  • Numerous partner companies in Southeast Asia to promote overseas parts supply expansion
  • Enhancing brand recognition in industry by providing parts for auto shows
  • Market expansion plans utilizing past Mitsubishi Group affiliations
  • Car care products distributed through both professional and general sales channels

Future Outlook

Growth Drivers

  • Expansion of demand for interior parts for EVs
  • Automotive lightweighting trend
  • Increased demand for environmentally considerate products due to regulations
  • Steady recovery of new car sales domestically and internationally
  • Increased demand for safety-related products through technological innovation
  • Product development responding to diversifying customer needs
  • Strengthening synergy with TPR Group
  • Sales expansion in overseas emerging markets
  • Improved cost competitiveness through manufacturing automation
  • Rising consumer awareness emphasizing sustainability
  • Development efficiency improvement through digitalization
  • Increase in joint development projects with customers

Strategic Goals

  • Achieve over 30% sales ratio for EV vehicle products
  • 50% reduction in CO2 emissions
  • Over 60% recycled material usage rate
  • Increase in number of joint developments with domestic automakers
  • Expand overseas sales ratio to over 20%
  • Maintain annual R&D investment at over 5% of sales
  • Introduce 15 or more new product lineups
  • Achieve 80% automation rate in manufacturing processes
  • Continuously strengthen CSR activities for local communities
  • Active recruitment and development of diverse talent

Business Segments

Supply to Automotive Manufacturers

Overview
Mass supplies interior and exterior parts to major automotive manufacturers, achieving high quality and strict delivery deadlines.
Competitiveness
Stable procurement and manufacturing technology from TPR Group
Customers
  • Nissan Motor
  • Toyota Motor
  • Honda
  • Subaru
  • Mazda
  • Mitsubishi Motors
  • Isuzu Motors
  • Daihatsu
  • Suzuki
  • Hino Motors
  • Isuzu Trucks
  • Other automotive-related companies
Products
  • Seat Frames
  • Seat Adjusters
  • Safety Belt Parts
  • Interior Moldings
  • Airbag Parts
  • Dashboard Parts
  • Door Trims
  • Bumper Moldings
  • Seat Cushion Materials
  • Interior Trim Parts

Car Accessories Wholesale

Overview
Wholesales a variety of car accessories to serve diverse customer segments.
Competitiveness
Extensive sales channel network and rich product lineup
Customers
  • Auto parts retailers
  • Car accessory chains
  • Repair shops
  • Dealers
  • Car leasing companies
  • Used car dealers
  • Mail-order businesses
  • Corporate customers
  • Taxi companies
  • Rental car companies
Products
  • Car care products
  • Repair parts
  • Accessory parts
  • Maintenance products
  • Seat covers
  • Cleaning tools

OEM/Custom Parts Manufacturing

Overview
Handles customization requests and new development parts to provide high-value-added products.
Competitiveness
Advanced design technology and flexible small-lot対応
Customers
  • Automotive parts manufacturers
  • Secondary suppliers
  • Design and development companies
  • Overseas manufacturers
  • EV-related companies
  • Special vehicle manufacturers
  • Motorcycle manufacturers
Products
  • Custom Seat Parts
  • Custom Interior Parts
  • Durability-Enhanced Products
  • New Material Parts
  • Prototype Models

Recycled Material Supply

Overview
Produces products based on recycled materials for a circular economy.
Competitiveness
Environmental load reduction technology and group collaboration
Customers
  • Automotive recyclers
  • Environmental companies
  • Building materials manufacturers
  • Material recycling businesses
  • Chemical manufacturers
Products
  • Recycled TPR Material
  • Recycled Plastic Parts
  • Eco-Friendly Interior Parts

Export Business

Overview
Provides high-quality parts to overseas markets, aiming to expand in emerging countries.
Competitiveness
Domestic production quality and international logistics network
Customers
  • Overseas automotive manufacturers
  • Overseas parts distributors
  • Logistics companies
  • Overseas sales companies
  • International projects
Products
  • Interior Parts
  • Seat Sets
  • Repair Parts

Technical Consulting

Overview
Provides technical know-how to support product development and production efficiency improvements.
Competitiveness
Abundant track record and TPR Group technology assets
Customers
  • Small and medium parts manufacturers
  • New entrants
  • Research institutions
  • Universities
  • Local governments
Products
  • Product Design Support
  • Material Evaluation
  • Manufacturing Process Optimization

Maintenance Services

Overview
After-sales services contributing to product life extension and safety enhancement.
Competitiveness
Prompt response and accurate technical support
Customers
  • Major automotive manufacturers
  • Auto dealers
  • Logistics companies
  • Vehicle body repair shops
Products
  • Parts Repair
  • Improved Parts Design
  • Quality Assurance Services

Environmentally Friendly Material Development

Overview
R&D of materials promoting environmental regulation compliance and energy savings.
Competitiveness
Cutting-edge environmental material technology
Customers
  • Automotive manufacturers
  • Environmental equipment manufacturers
  • R&D institutions
Products
  • Biomass Plastic Parts
  • Low-VOC Materials
  • Lightweight Parts

Safety Device Parts Manufacturing

Overview
Manufactures and provides essential parts for improving vehicle safety performance.
Competitiveness
High-quality control and durability testing technology
Customers
  • Airbag manufacturers
  • Crash safety device manufacturers
  • Automotive manufacturers
Products
  • Airbag Covers
  • Impact Absorption Parts
  • Safety Belt Accessories

Electronic Parts Mounting Support

Overview
Develops mounting structure parts for electronic devices in next-generation vehicles.
Competitiveness
Multi-function integration and high-precision molding technology
Customers
  • Automotive electronics manufacturers
  • Autonomous driving-related companies
  • IoT device manufacturers
Products
  • Sensor Holders
  • Wiring-Integrated Parts
  • Control Device Housings

Competitive Advantage

Strengths

  • High interior parts design technology
  • Stable support from TPR Group
  • Strong relationship with Nissan Group
  • Diverse product lineup
  • High-quality production system
  • Flexible custom response capability
  • Environmentally friendly product development capability
  • Solid financial foundation
  • Established domestic and international supply network
  • Strong R&D capabilities
  • Abundant skilled technicians
  • Quick market response capability
  • Sustainability promotion
  • High customer satisfaction
  • High production efficiency

Competitive Advantages

  • Maintains stable supply share of about 35% to Nissan Group
  • Financial and technical support as TPR Group subsidiary
  • Lightweight and highly durable parts design using advanced materials
  • Specialization in interior seat-related products differentiating from competitors
  • Flexible development system responding to customer needs
  • Product design and production technology conscious of environmental load reduction
  • Domestic manufacturing for quality control and safety standard compliance
  • Focus on developing new transactions with diverse automakers
  • Provides luxury feel through surface finishing technology
  • Training of manufacturing personnel and continuous education system
  • Cost competitiveness improvement through manufacturing process optimization
  • Capable of advanced safety parts manufacturing
  • Technology innovation対応 to shorten product lifecycle
  • Reliability secured through comprehensive customer support system
  • Reduces regulatory risks through environmentally compliant product development

Threats

  • Rapid EV shift in automotive market changing parts demand
  • Price competition pressure from domestic and foreign competitors
  • Rising manufacturing costs due to raw material price fluctuations
  • Supply chain disruptions from novel coronavirus and other infectious diseases
  • Increased adaptation costs from stricter environmental regulations
  • Supply delay risks from overseas production bases
  • Demand instability from automotive industry business fluctuations
  • High R&D cost burden for new technology対応
  • Skill inheritance delays due to labor shortages
  • Revenue risks from dependence on certain customers
  • Export profitability deterioration from currency exchange fluctuations
  • Complication of stricter regulations and certification procedures

Innovations

2022: New Development of Lightweight TPR Material

Overview
Developed lightweight, highly durable TPR material for automotive interiors.
Impact
Achieved 10% product weight reduction

2023: Introduction of Environmentally Friendly Interior Parts

Overview
Began mass production of interior parts with low environmental impact featuring VOC reduction technology.
Impact
Contributes to strengthened environmental regulation compliance

2021: Enhanced Production Process Automation

Overview
Promoted labor reduction by introducing robots into seat manufacturing processes.
Impact
Improved work efficiency by 15%, achieved cost reductions

2024: Expansion of Products Using Recycled TPR

Overview
Expanded lineup of interior parts using recycled TPR materials.
Impact
Contributes to environmental load reduction and cost stabilization

2023: Development of New Seat Adjuster

Overview
Launched new seat adjuster with improved lightweight and quietness to the market.
Impact
Contributes to improved customer satisfaction and increased sales

Sustainability

  • Set targets for reducing CO2 emissions in manufacturing processes
  • Achieved over 40% recycled material usage rate
  • Waste recycling rate improvement project
  • Continuous strengthening of environmental regulation compliance system
  • Participation in local cleanup volunteer activities
  • Promotion of labor safety and health activities
  • Implementation of employee environmental education programs
  • Expansion of energy-saving equipment introduction
  • Efficiency improvement in water resource usage
  • Annual issuance of environmental CSR reports
  • Prioritized promotion of environmentally considerate product development
  • Fuel consumption reduction through logistics efficiency