PRESS RELEASES & NEWS

At the Board of Directors Meeting on December 19, 2013, JATCO Ltd decided on the following changes:

 

1. Board Member changes

–   Retiring Board Member (as of January 31, 2014): Takashi Hata, President and Representative Board Member. (Scheduled to be appointed as Senior Vice President of Nissan Motor Co., Ltd., effective February 1, 2014.)

–    Newly appointed Board Member (as of the Annual Shareholders Meeting to be held in June 2014): Teruaki Nakatsuka (current General Manager of North Asia Pacific Region, GE Aviation).

Initially, Nakatsuka will join JATCO on February 1 as an Adviser, and is subsequently scheduled to be appointed as President (Representative Board Member) and CEO (Chief Executive Officer) at the Annual Shareholders Meeting and following Board Meeting scheduled to be held in June 2014.

> CV_Nakatsuka / Photo

–    Seiji Honda, a current Board Member, will be appointed as Representative Board Member as of February 1.

2. Management changes

–    Seiji Honda, current Executive Vice President, will become COO (Chief Operating Officer) as of February 1. He will also serve as Acting President from February 1 until Nakatsuka becomes President & CEO.

–    Tomoyoshi Sato (current CVP in charge of the Americas) will be promoted to Senior Vice President as of February 1 and will be in charge of the Production Division, replacing Seiji Honda.

JATCO profile

JATCO Ltd (President & CEO Takashi Hata; headquarters in Fuji City, Shizuoka, Japan; capital: \29.94 billion) is one of the world’s leading manufacturers of AT (automatic transmission), and the No. 1 CVT (continuously variable transmission) manufacturer in the world with nearly half of the global market share. Comprising approximately 12,000 employees worldwide and with manufacturing plants in Japan, Mexico, China and Thailand, the company provides innovative products to markets around the world. Consolidated sales in 2012 were nearly \600 billion (approximately $6 billion) and the company has set a sales target of \1 trillion (approximately $10 billion) to be achieved by fiscal 2018. JATCO is 75 percent owned by Nissan Motor Co., Ltd., 15 percent by Mitsubishi Motors and 10 percent by Suzuki Motor Corporation. The company supplies step AT and CVT to its shareholders and other car companies globally.

 

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