ShinMaywa Group has set “Acceleration of overseas expansion” as one of its key strategic items in its Long-term management plan [SG-Vision 2030] setting 2030 as the target year. Although Elevator Type Car Parking System and Two-storied/Multi-storied System, its main products of the Car Parking Systems segment, feature high quality and functionality, the land and car parking conditions vary by country. The Company has therefore decided to invest in TOP QUALITY MACHINERY, which produces “underground-type” car parking systems that are mainstream in the Southeast Asian market, including the Taiwanese market, to add this product series to its lineup.

TOP QUALITY MACHINERY has a broad range of products and also engages in the maintenance and repair business. It is a leading company with a share of approximately 20% in the “underground-type” systems market in Taiwan. With a view of entering this market, the Company acquired 10% of the shares of TOP QUALITY MACHINERY in 2021 and has been working to collaborate with it. The Company has a plan to acquire all of the shares of TOP QUALITY MACHINERY in the future, and will use this additional share acquisition as an opportunity to accelerate initiatives for advancing urban infrastructure in Taiwan as well as further strengthening collaboration within the ShinMaywa Group to expand the parking systems business in the region and Southeast Asian market.