NSK Ltd. and Toshiba Corporation have announced formation of a joint venture called ADTech Corporation which aims at developing an automotive steering system, and the commencement of the joint venture’s activities.
The release discloses that in order to accommodate this changing business environment in the automotive steering field, NSK and Toshiba established ADTech Corporation on September 30, 2010, and this joint venture has since entered full operation. The joint venture’s objective is the effective development of an automotive steering system that fuses NSK’s experience in electronic, mechanical, and other in-car safety technologies with Toshiba’s advanced electronics and software technologies.
Details of New Joint Venture
(1) Joint venture name: ADTech Corporation
(2) Representative: Kazutaka Motoda, President and Representative Director
(3) Location: 1-6-3 Ohsaki, Shinagawa-ku, Tokyo
(4) Date established: September 30, 2010
(5) Description of business: Development and related undertakings for in-car safety systems in response to the transition to EVs
(6) Employees: Approx. 60
(7) Capital: 200 million yen
(8) Equity investment ratio: NSK 51%, Toshiba 49%