Nippon Plast

Basic Information

Stock Code
7291
Industry
Transportation Equipment
Category Detail
Auto Parts
Prefecture
Shizuoka Prefecture
Establishment Year
October 1948
Listing Year
December 1990
Official Website
https://www.n-plast.co.jp/
TSE Information
TSE Information
Yahoo! Finance
Yahoo! Finance
Other Companies
Toyota Boshoku, ZOA, Seiren, Nishikawa Rubber Industry, G-Tec, Toho, Nipats, GMB, Taiheiyo Kogyo, Univance, Toyoda Gosei, Murakami Kaimeido, T. Estec

Overview

Nippon Plast is a core company in the transportation equipment industry founded in 1948, with high technological capabilities in automotive safety parts and resin products as its mainstays, supplying parts both domestically and internationally.

Current Situation

Nippon Plast recorded consolidated sales of approximately 106.1 billion yen in the fiscal year ended March 2020, maintaining solid management centered on the manufacture of automotive parts such as steering wheels, airbags, and resin components. Headquartered in Fujinomiya City, Shizuoka Prefecture, it has expanded production bases in Isesaki City, Gunma Prefecture, and Tsukiage District, Fukuoka Prefecture, to strengthen production capacity. While competing with major automotive parts manufacturers such as Toyota Boshoku and Toyoda Gosei, it has a stable business foundation with diverse automakers including Suzuki as clients. In recent years, it has focused on product development to meet market needs for enhanced automotive safety and electrification, promoting quality improvements through technological innovation. Although some fluctuations in performance have been seen since the 2020s, it is working on management improvement measures and product diversification to aim for sustainable growth. In terms of sustainability, it is proactive in introducing manufacturing processes that reduce environmental impact and contributing to local communities. Toward 2030, it has set strategic goals of strengthening development of electrification and autonomous driving-related parts and expanding overseas operations to enhance business competitiveness.

Trivia

Interesting Facts

  • Long-established company known for automotive steering manufacturing since its founding.
  • Major manufacturer of automotive resin parts alongside Toyota Boshoku and Toyoda Gosei.
  • Has a production subsidiary in the United States and is proactive in overseas production.
  • Has accumulated high technical know-how in automotive safety parts over many years.
  • Fully independent from Honda R&D in 2013 and operating independently.
  • Based in Fujinomiya City, Shizuoka Prefecture, with multiple factories in Japan.
  • Strength in resin parts for airbags, supporting safety.
  • High trust in quality due to long years of molding technology.
  • Focusing on development of parts for electrification and autonomous driving.
  • Continuously implementing community-based local contribution activities.
  • Diverse product lineup for automotive interiors and exteriors.
  • Pioneering initiatives in using environmentally friendly materials.
  • Corporate culture where many engineers have long tenure.
  • Flexible production system capable of multi-variety small-lot production.
  • Attracts investor attention as a Nikkei auto-related stock.

Hidden Connections

  • Has important ties to the local economy with Nissan Motor's Yoshihara Plant, a long-term trading partner.
  • Former affiliate of Honda R&D with history of technical exchanges, but shifted to independent management in recent years.
  • Subsidiary in Ohio, USA, serves as base for supplying automotive parts to North America.
  • Engages in partial technical collaboration while competing with multiple companies such as Suzuki and Toyota Boshoku.
  • Resin molding technology development collaborates with domestic universities and research institutions.
  • Contributes to local employment as a regional industry in Shizuoka Prefecture.
  • Introduction of environmentally friendly materials corresponds to strengthening environmental regulations across the automotive industry.
  • Close collaboration with same-industry competitors and different industries within the industry supply chain.

Future Outlook

Growth Drivers

  • Increasing demand due to progress in automotive electrification and autonomous driving technology
  • Expansion of demand for environmentally friendly parts due to strengthened domestic and international environmental regulations
  • Promotion of resin parts adoption due to rising lightweighting needs
  • Expansion of supply to emerging automakers in global markets
  • Acceleration of high-function safety parts development through technological innovation
  • Supply chain diversification and risk dispersion strategies
  • Promotion of manufacturing efficiency improvement and production process digitalization
  • Strengthening provision of customized products tailored to customer needs
  • Increasing demand due to heightened environmental sustainability awareness
  • Adaptation of parts technology to new markets and diversification of business models
  • Following domestic automakers' shift to electric vehicles
  • Coexistence with local communities and improvement of social credit

Strategic Goals

  • Achieve over 50% sales ratio for electrification and autonomous driving-related products
  • Halve environmental impact of domestic and international manufacturing bases
  • Secure top-class industry position in resin parts lightweighting technology
  • Expand overseas market sales ratio to over 40%
  • Complete smart factory transformation of production processes
  • Raise ratio of in-house products using sustainable materials to over 60%
  • Realize talent diversification through promotion of diversity and inclusion
  • Strengthen acquisition of international product safety certifications
  • Expand diversification of revenue sources through new customer development
  • Establish symbiotic management model with local communities

Business Segments

OEM Parts for Automakers

Overview
Supplies high-quality safety parts and resin interior/exterior parts to major automakers.
Competitiveness
High-precision resin molding technology and design capabilities honed over many years
Customers
  • Nissan Motor
  • Suzuki
  • Toyota Motor Corporation
  • Honda
  • Mitsubishi Motors
  • Mazda
  • SUBARU
Products
  • Steering Wheel Parts
  • Airbag-Related Parts
  • Resin Interior and Exterior Parts
  • Seat Adjusters
  • Bumper Parts

Automotive Aftermarket Parts

Overview
Provides repair and custom parts for the aftermarket.
Competitiveness
Product development excelling in parts compatibility and durability
Customers
  • Automotive parts specialty stores
  • Car dealers
  • Repair shops
  • Used car market
Products
  • Repair Bumper Parts
  • Custom Resin Parts
  • Replacement Seat Parts

Resin Parts for Industrial Machinery

Overview
Provides durable parts and various protection parts for industrial applications.
Competitiveness
Extensive know-how in processing a wide range of high-performance resin materials
Customers
  • Industrial machinery manufacturers
  • Construction machinery manufacturers
  • Electrical equipment manufacturers
Products
  • Durable Resin Parts
  • Piping Fittings
  • Protection Covers

Overseas Automotive Parts Supply

Overview
Expanding exports and local production mainly in the US and Asia.
Competitiveness
Flexible supply system with overseas production bases
Customers
  • Overseas automakers
  • Local automotive assembly plants
Products
  • Safety-Related Parts
  • Interior and Exterior Resin Parts

Technology Development and Design Contract Services

Overview
Provides integrated technical support from parts design to prototyping.
Competitiveness
Fusion of extensive design experience and prototyping technology
Customers
  • Automakers
  • Supplier companies
Products
  • Resin Parts Design
  • Prototype Processing Services
  • Performance Evaluation

Environmentally Friendly Parts Supply

Overview
Develops and supplies parts aimed at reducing environmental impact.
Competitiveness
Experience in developing environmental materials and patented technologies
Customers
  • Automakers
  • Environmental-related businesses
Products
  • Biomass Resin Parts
  • Recycled Resin Parts

Repair and Maintenance Parts Supply

Overview
Deploys stable supply of repair and maintenance parts.
Competitiveness
Rapid parts supply network
Customers
  • Automotive repair shops
  • Damage insurance companies
Products
  • Replacement Molded Parts
  • Damage Repair Parts

Competitive Advantage

Strengths

  • High-precision resin molding technology
  • Extensive automotive industry experience
  • Strong customer base
  • Diversity of domestic and international production bases
  • Expertise in safety parts field
  • Stable financial foundation
  • Advanced quality control system
  • Environmental response technological capabilities
  • Customization responsiveness
  • Track record in technical design support
  • Long-term customer relationship building
  • Diverse product lineup
  • Efficient production system
  • Rapid delivery system
  • Team of experienced engineers

Competitive Advantages

  • Possesses strong supply network to major domestic automakers
  • Resin parts technology specialized in safety as differentiation point
  • Flexible production adjustment capability through multi-factory deployment
  • Reliability of high-quality products backed by long track record
  • Early initiatives in environmentally considerate parts development
  • Integrated support system from design to manufacturing
  • Risk diversification and market expansion through overseas advancement
  • Product competitiveness enhancement through continuous technological innovation
  • Diverse product provision tailored to customer needs
  • Rapid market response and delivery shortening capability
  • High accumulation of in-house technical know-how
  • Quality and safety standards exceeding industry norms
  • Strong supply chain management
  • High compliance with environmental regulations
  • Superior product diversity compared to competitors

Threats

  • Fluctuations in parts demand due to global automotive industry shift to electrification
  • Low-cost competition from emerging country manufacturers
  • Risk of raw material price fluctuations
  • Impact of exchange rate fluctuations on import/export costs
  • Automakers' supply chain reviews
  • Increased compliance costs due to strengthened environmental regulations
  • Logistics risks from international situation instability
  • Possibility of failing to keep up with rapid technological innovation
  • Vulnerability in production system due to labor shortages
  • Impact of natural disasters on factory operations
  • Declining profit margins due to intensifying market competition
  • Declining sales due to customers' in-house production promotion

Innovations

2024: Improvement of Automotive Electric Power Steering Parts

Overview
Developed lightweight, high-strength steering parts compatible with electrification.
Impact
Achieves improved vehicle fuel efficiency and comfort through product lightweighting.

2023: Mass Production of Environmentally Friendly Biomass Resin Products

Overview
Began production of resin products using biomass-derived materials to reduce environmental impact.
Impact
Corresponds to strengthened environmental regulations and expands market needs.

2022: Introduction of High-Precision Composite Molding Technology

Overview
Introduced the latest molding technology for manufacturing metal-resin composite parts.
Impact
Enables differentiation from competitors and provision of high value-added parts.

2021: IoT-Utilizing Advanced Production Line Management System

Overview
Launched system to maximize production efficiency and quality control.
Impact
Succeeded in reducing defect rates and costs.

2020: Development of Lightweight Safety Parts for Electric Vehicles

Overview
Developed high-strength lightweight steering parts dedicated for EVs.
Impact
Successfully established a foothold for entering the EV market.

Sustainability

  • Promotion of factory energy conservation and CO2 emissions reduction
  • Improvement of waste resin recycling rate and promotion of resource circulation
  • Active adoption and commercialization of environmentally considerate materials
  • Environmental conservation activities aiming for coexistence with local communities
  • Implementation of employee environmental awareness education programs
  • Contribution to reducing traffic accidents through safety parts
  • Strengthening of environmental management based on legal compliance
  • Advanced water usage reduction and wastewater treatment
  • Promotion of sustainability across the entire supply chain
  • Promotion of product design supporting circular economy
  • Environmental risk reduction through thorough chemical substance management
  • Expansion of renewable energy utilization