Japanese electronics manufacturer MinebeaMitsumi Inc on July 26 expressed satisfaction in its sole Cambodian factory and its decade-long presence in the Kingdom.
Speaking at a meeting with Prime Minister Hun Sen on July 26 MinebeaMitsumi CEO Yoshihisa Kainuma noted that “in the past 10 years”, the company has invested about 1.124 trillion yen ($8.23 billion) around the world, including in 95 factories, according to a statement posted on the premier’s official Facebook page.
The CEO said that his company is “very focused” on quality, pricing, economy, service standards, speed, and especially on environmental matters.
According to the Ministry of Commerce’s business registry, Minebea (Cambodia) Co Ltd was incorporated on November 5, 2010.
Kainuma said the company’s local factory exports 100 per cent Cambodian-made LED light bulbs around the world.
He said the firm has had 18,880 of the bulbs installed across the Kingdom alone, which he claimed have helped reduce electricity consumption and costs along with CO2 emissions by “about $1 million per year”.
Despite slight disruptions due to Covid-19, the company has largely continued to operate as per usual, with no major production or supply chain issues.
Prime Minister Hun Sen said that the company has been “very successful” in investing in Cambodia over the past decade, while continuously expanding operations.
“The company’s decision to invest was the right thing to do. This is an example that shows all companies that come to Cambodia – have confidence in Cambodia,” he said in the statement.
According to Kainuma, the company increased its capital investment in Cambodia from about $372 million in 2018 to $400 million in 2019. In December 2019, Minebea said it would produce toys for export carrying a “Made in Cambodia” label.