GS Yuasa Corporation (Tokyo Stock Exchange: 6674) today announced that consolidated subsidiary GS Yuasa International Ltd. (“GS Yuasa”) established PT. Yuasa Industrial Battery Indonesia as a joint venture in Indonesia in April 2021. The new joint venture is engaged in the sale and maintenance of industrial batteries and other products.
The new joint venture was financed by GS Yuasa, GS Yuasa Siam Industry Ltd. (Thailand), and PT. Santi Yoga, a distributor of lead-acid batteries primarily focused on the Indonesia market. PT. Santi Yoga’s industrial battery business will be transferred to the new joint venture in July.
Indonesia has the largest economy among ASEAN-member nations, and infrastructure-related business in the country is expected to see further expansion. PT. Yuasa Industrial Battery Indonesia is aiming to achieve annual sales of two billion yen by 2025 through integrating GS Yuasa’s global industrial battery business network and the robust sales network that PT. Santi Yoga has built up in Indonesia.
GS Yuasa is working to consistently deliver high-quality and high-value-added products and services in a timely manner to users in the Indonesian market on the way to achieving its aim of further expanding sales in the ASEAN region.
Overview of PT. Yuasa Industrial Battery Indonesia
| 1．Company name | PT. Yuasa Industrial Battery Indonesia | |
| 2．Location | Jakarta, Indonesia | |
| 3．Date of establishment | April 1, 2021 | |
| 4．Capital | IDR 36,430 million (approx. JPY 255 million) | |
| 5．Shareholders | GS Yuasa International Ltd. | 20% | GS Yuasa Siam Industry Ltd. (Head office: Bangkok, Thailand) | 20% | PT. Santi Yoga (Head office: Jakarta, Indonesia) | 60% | 6．Business | ・Sales and maintenance of industrial batteries and power supplies ・Sales and maintenance of batteries for battery-powered forklifts |