Since recording GDP of 6 trillion dollars in 2010, and overtaking Japan, China has continued its economic growth apace, and with GDP in excess of 13 trillion dollars is now closing in on the USA. The driver for this growth has been the manufacturing sector, which includes industries based on the electronics industry; such as home electrical appliances, computers and telecommunications equipment, and the car industry. Chinese peoples’ standard of living has risen, and China is not just a manufacturing base but one of the world's largest consumer markets. Shenzhen in China is attracting attention as a cutting-edge technology hub, just like Silicon Valley in the Bay Area in USA, and Israel, and at the same time China's BAT (Baidu, Alibaba, and Tencent) are changing people's lives at a speed that is outpacing the US IT giants. According to the Ministry of Science and Technology of the People’s Republic of China, the country now has 217 unicorn startups which are great expectations as engines of ongoing technology innovation (Year 2020).
Structures of Our East Asia Region
We have built an organizational structure to cater to customer needs that consists of around 600 staff members across our corporate group, which includes approx. 150 staff members who are engaged in hardware sales and marketing, approx. 250 staff members who are engaged in the Software development, approx. 30 new staff members joined from Toyota Tsusho, and approx. 150 staff members at Shanghai Hong Ri International Electronics Co., Ltd., which is a semiconductor and electronic parts distributor that is a joint venture between us and the Huahong Group. Please refer "East Asia region's Introduction" below, for the each companies information and locations. We have set up operating bases in China's main cities as well as logistic centers and a quality support center, software development center thereby providing support beyond customer's requirement, not only for Japanese companies, but also for domestic and international companies.
Our Hardware Department, from our dozen or so locations within the region, supports the value chain of electronic semiconductor parts to our customers who are designing, manufacturing, and assembling products in East Asia. We will continue to enhance our Technical Support Department (S&E: Solution & Engineering) to ensure our organizational structure is capable of delivering new technologies and services and of supporting electronics peripheral technologies to our customers who have investigative, planning and design, and R&D functions in East Asia and to our local customers in the region, so that we can create new value together. Our Software Development Department is expanding business operations centred on software development and product evaluation from our base in Dalian.
With a capital investment from iAuto (Shanghai) Co., LTD. a company with a track record in software development of over two decades in China, we intend to step up our development of IVI products even further. As fusion of disparate industries and sectors, such as cars and industrial devices, consumer electronics based platforms, etc., progresses even further in East Asia in future, the NEXTY Group will strive to bring together our hardware know-how and software development capabilities, design and manufacturing partners, quality function, and technology goods and services to provide functionality greater than the sum of its parts, thereby allowing us to offer our customers products and services that exceed their expectations.