Japan's Tamiya Invests P1.5 Billion in the Philippines for a New Facility
The Tamiya Group of Japan, through its subsidiary Tamiya Philippines Inc., has announced a P1.5 billion capital injection into the Philippines that will be poured into building a new production facility in Cebu Light Industrial Park.
Tamiya is the manufacturer of the plastic mini 4WD race cars that saw a peak in popularity in the ’90s. The four-wheel-drive race cars are powered by electric motors through a pair of AA batteries.
At the height of its popularity, 4WD races were organized in the Philippines and around the world and followed by millions of enthusiasts, many of whom were students who would spend their allowances on upgrades on stock engines, parts, and car shells.
A Tamiya 4WD Race Car
Tamiya has expanded to manufacturing radio controlled cars, plastic model kits, battery and solar powered models, sailboat models, acrylic and enamel model paints, and modeling tools and supplies.
A Track with Tamiya 4WD Operators Preparing for a Race
Tamiya Philippines has been operating a production facility in Cebu since 1994. According to a report by the Manila Bulletin, the company’s annual export is $23.24 million. A bulk of the exports of Tamiya Philippines go to Japan, which accounts for 65 percent of its sales.
With the construction of the new facility in Cebu, the Japanese firm expects to grow its output by five percent over the next three years.