Aiming for sales of 26 billion yen in USA and India
TMEIC started operation of the new factories one after another in India and the USA as one of the measures to further improve sales in line with market expansion, responding to the steady increase of orders in the two markets.
China, the USA, India and Japan are currently the four major solar power markets in the world. The company believes it is important to gain shares in the major markets to become one of the top power electronics manufacturers in the world.
The company recorded sales of approximately 2 billion yen in fiscal 2016 in the USA, and it expects sales will reach roughly 5 billion yen in fiscal 2017. The output-based production capacity of PV inverters at the new factory is 1.5GW per year, which is about three times the conventional capacity. Following the expansion of the production capacity, TMEIC plans to increase sales to about 10 billion yen in fiscal 2020, estimating that the sales of PV inverters for solar power generation will consist of about 70% of total sales (Fig. 5).
Meanwhile, the company shipped about 1.15GW of PV inverters for solar power plants to the Indian market in fiscal 2016, and the sales of all power electronics products in the same fiscal year reached approximately 5 billion yen. Following the start of operation at the new plant, TMEIC aims to increase sales in India by more than three times in the coming three years and increase the sales of motors and power electronics products to about 22 billion yen in total in fiscal 2020 (Fig. 6).
If the plan is realized, sales of all power electronics products in the USA and India will total approximately 26 billion yen.