Developing strong partnerships with local players across Southeast Asia
Last year, Nagoya-based INOAC Corporation celebrated ninety years since its founding as Inoue Rubber Co. Initially a bicycle tire and inner tube manufacturer, the company has evolved into an international conglomerate supplying a range of polyurethane, rubber, plastic and new material products and technologies.
The company’s first overseas joint venture was established in Sri Lanka in 1959 and Chairman and CEO, Soichi Inoue (son of the founder) has continued to internationalize the company over the last six decades.
“I am proud that the factory we opened in Sri Lanka continues to operate today”, says Inoue. “Our business in Southeast Asia began in Thailand in the 1960s and the success we have seen across the region continues to be based on the strong partnerships and joint ventures we have established”.
The company’s overseas business represents two thirds of its total revenue with the Southeast Asian region generating thirty percent of this business.
Products manufactured by the company can be found in a range of applications from automotive parts to insulation for housing and building materials.
“Automotive is one of the largest sectors we serve but today, bedding and furniture make up significant portions of our business”, says Inoue. “We also supply various products such as polyurethane system for the shoe manufacturing industry, insulation materials for cold-storage and consumer products across Southeast Asia while serving many other industries”.
INOAC Corporation maintains a strong philosophy towards localization.
“We have developed strong technical know-how with many of our products and we work closely with local partners to assist them as they grow their business,” says Inoue. “We will further develop and assist in localization across Southeast Asia as we are building in their ‘backyard’.”