MinebeaMitsumi’s leadership recently identified ASEAN as the focus of its expansion activities in the region.
With a workforce of over 70,000 in Southeast Asia, the Philippines is currently the second largest production base of the company after Thailand, with over 26,000 workers.
Commercial Counselor Dita Angara-Mathay reported that during the Department of Trade and Industry’s recent meeting with the MinebeaMitsumi’s senior executives, the company has affirmed its confidence in the country via a major expansion project in Naga City in Cebu, for the manufacture of optical image stabilizer components for smartphones.
Ms. Angara-Mathay added that the expansion project will require incremental workers approximating 30% of the current aggregate HR complement in the company’s three factories in Santo Tomas, Batangas, Mariveles, Bataan and Danao City in Cebu. The project has a value of approximately PHP 4 billion.
With the planned expansion in Cebu, the country can potentially become MinebeaMitsumi’s largest production base in the world.
In terms of economic importance, the company holds the distinction of being one of the Philippines’ biggest exporters, employers and tax contributors.
It is part of an elite roster of foreign direct investors whose cumulative investments in the Philippines amount to over USD 1 billion.
With its plans to raise areas of support from the Philippine government to reduce its carbon footprint, MinebeaMitsumi will be building a solar generation facility with electric generating capacity of 12.82 GWh per year for its own use to meet its carbon neutrality goals as well as address the recent rising cost of energy.
The company’s global operations span 96 R&D Centers and factories in 22 countries. These facilities are backed by a labor force of close to 86,000.
In March 2022, MinebeaMitsumi reported net sales of JPY 1.12 billion. Its target for sales is JPY 2.5 trillion by 2029.
