Toyoda Gosei Starts Operation of New Plant in Mexico

05/17/2021

Source: Business Wire

KIYOSU, Japan–(BUSINESS WIRE)–Toyoda Gosei Co., Ltd. (TOKYO:7282) has established a new plant in Mexico, the TAPEX Mexicana, S.A. de C.V. (TAPEX) Monterrey Plant, and started its production of the bags that are a main component of automotive airbags in March 2021. This will help to meet the growing demand for airbags.

In Toyoda Gosei’s medium-term 2025 Business Plan, airbags and other safety system products are a key area that will drive future business growth, and the company is focusing effort on increasing sales to Japanese automakers and other customers. The bags are produced mainly in Mexico and Vietnam to raise cost competitiveness. With the operation of the new plant in Mexico, Toyoda Gosei will increase annual bag production capacity by about 8 million units.

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Mexico Turns Trade Attention to Japan With Nafta Talks at Risk

06/11/2018 Bloomberg

mexican-flag1Mexico’s top trade official is traveling to Japan this week as the Latin American nation seeks to diversify exports and investment amid an impasse in Nafta talks.

Economy Minister Ildefonso Guajardo said he still sees a high chance of a deal to update the North American Free Trade Agreement, but that the U.S., Canada and Mexico will need to show flexibility. The three sides will strongly engage next month, Guajardo was quoted by Reuters as saying on Monday in Tokyo, where he will meet Japanese officials and business leaders.

Nafta talks are on the back burner ahead of Mexico’s election on July 1, according to a person familiar with their timing, who asked not to be named citing private conversations. Uncertainty about the future of the trade deal increased this weekend after President Donald Trump clashed with Canadian Prime Minister Justin Trudeau just after a Group of Seven meeting ended in Canada.

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Asia Faces Competition in Mexico’s Energy Sector

The Wall Street Journal, 12/16/2013

Oil barrelsAsian energy groups are looking at opportunities in Mexico following a decision to break Petróleos Mexicanos’s oil and gas monopoly, but they could face tough competition from Western rivals for the right to exploit the country’s huge and lightly developed reserves.

Mexico’s relatively stable political environment and geographic proximity to the U.S. could attract investors from there, including companies that have been selling stakes in Asian and African energy projects to focus on exploiting shale gas and oil opportunities nearer to home. Attractive Mexico projects could also interest European companies such as Spain’s Repsol, which is 9.3% owned by Pemex, and others already active in the country.

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Mexico-Japan: building pipelines

oil pipeline150Financial Times, 4/9/13

Tuesday’s announcement that Mexico has signed an agreement with Japan’s Mitsui Corporation to construct a gas pipeline for $460m was accompanied by the idea that the deal would provide cheaper and more abundant energy for Latin America’s second-largest economy.

And so it probably will. The pipeline, which will connect Mexico to Arizona, will be able to carry about 770m cubic feet of gas every day – and cheaply – from the US to its southern neighbor. Considering that Mexico last year imported about 1.7bn cubic feet, the new infrastructure stands to add significant capacity to Mexico’s ability to import.

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Mexico backs Japan’s bid to join Trans-Pacific trade talks

Enrique PeñaNieto 2Reuters, 4/8/13

Mexico on Monday gave its support to Japan’s bid to join trade talks in the Asia-Pacific region that would create the world’s largest free trade zone. Japan asked to join the Trans-Pacific Partnership (TPP) in March and is awaiting a formal decision by the 11 current participating countries, which could come as early as this month.

“We express our sympathy, support and backing for the interest that Japan has shown in participating in the TPP,” Mexican President Enrique Pena Nieto said at a joint news conference with Japanese Prime Minister Shinzo Abe in Tokyo. If Japan, the world’s third-largest economy, joins the TPP, the free trade zone would cover nearly 40 percent of world economic output.

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Stalemate in the inclusion of members in transpacific alliance [In Spanish]

El Economista, 6/5/2012

The United States and eight other countries that are negotiating a treaty for free commerce in the Asia Pacific region are still undecided about an offer made almost seven months ago by Japan, Canada and Mexico to join these conversations.

This information comes from the United States Trade Representative (USTR) that also assured that “once again, the ministers thanked the interest of Canada, Japan and Mexico to join the TPP (Trans-Pacific Partnership).” According to this information release, the ministers spoke about the progress of bilateral consultations of each member country with Canada, Japan and Mexico, respectively.

“Decisions on the admittance of these candidates into the TPP have not been made,” declared the USTR in an information release signed in Russia and added that consultations will surely continue.

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Top Latin America Issuer Probing Samurai Market: Mexico Credit

San Francisco Chronicle with Bloomberg, 8/23/11

Mexico may issue yen-denominated bonds for the second time in 10 months, tapping into Japanese investors’ growing demand for the higher yields offered on so- called Samurai bonds.

The government hired three banks to arrange investor meetings in Japan, according to a person familiar with the matter. The 1.41 percent yield on Mexico’s yen bonds due 2020 is 51 basis points, or 0.51 percentage point, more than that on Japanese government debt. While that gap lures buyers looking for alternatives to near-zero benchmark Japanese rates, it’s below the 179 basis-point spread Mexico is paying over Treasuries in the dollar market and less than the 204 basis- point premium over German bunds in the euro market.

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