Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us


May 05, 2015 6:36 PM ET

Auto Components

Company Overview of Asahi Tec Corporation

Company Overview

Asahi Tec Corporation offers various components primarily for the construction and automobile industries. Its products include aluminum components, such as intake manifolds, transfer cases, rear arms, cross members, body frames and sub-frames, steering members, crutch housings, seatback frames, def mount brackets, and motorcycle parts; aluminum wheels; and ductile components, including hanger brackets, differential carriers, front hubs, support beams, port blocks, hydraulic cylinder heads, planet carriers, floating seals, boom posts, and axle assemblies. The company also offers electric power equipment products that comprise transmission and distribution line, and underground cable hardware ...

547-1 Horinouchi

Kikugawa,  439-8651

Japan

Founded in 1916

3,964 Employees

Phone:

81 5 3736 3111

Fax:

81 5 3736 4160

Key Executives for Asahi Tec Corporation

Chief Executive Officer, President, Representative Executive Officer and Director
Age: 62
Chief Financial Officer, Senior Managing Executive Officer and Representative Director
Senior Managing Executive Officer
Age: 62
Senior Managing Executive Officer
Executive Officer and Manager of China Business Department for Light Alloy Division
Age: 59
Compensation as of Fiscal Year 2014.

Asahi Tec Corporation Key Developments

Pension Benefit Guaranty Corporation Announces $40 Million Asahi Tec Settlement

The Pension Benefit Guaranty Corporation settled a long-standing lawsuit with Asahi Tec Corporation, that called into question the authority the PBGC, and U.S. courts, have over foreign companies with U.S. operations. Asahi Tec Corp. agreed to pay PBGC $39.5 million. Asahi Tec bought Metaldyne based in Plymouth, Mich., in 2007 for $1.2 billion. Two years later, Metaldyne went bankrupt. PBGC asked Asahi Tec to take on the pensions of Metaldyne's 10,000 workers, and also requested Asahi cover the terminated plan's $200 million in liabilities. In October 2013, a U.S. District Court in Washington, D.C., affirmed its jurisdiction over the foreign company, and said Asahi Tec was liable for the unfunded benefits and the termination premiums of its bankrupt subsidiary. Asahi argued that because it did not make any decisions with respect to Metaldyne's pension plan, it had no obligation to assume the liabilities. The court ruled that was irrelevant, and emphasized in its decision that Asahi extensively reviewed Metaldyne's pension obligations before completing the acquisition. Prior to that ruling, which allowed PBGC's $175 million suit against Asahi to proceed, foreign corporate parents of U.S.-based subsidiaries operated under the assumption that they were not responsible for subsidiary pensions.

Similar Private Companies By Industry

Company Name Region
Uchihamakasei Corp. Asia
Narumi Goukin Manufacturing Co., Ltd. Asia
Kotani Corporation Asia
Adtech Corporation Asia
Yamaha Motor Electronics Co., Ltd. Asia

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
April 27, 2015
Asahi Tec Corporation, Business of Iron Casting, Forging and Machining
 

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
NYC2012, Inc. United States
Bertelsmann AG Europe
Rush University United States
Greater Houston Partnership United States

Sponsored Financial Commentaries

Sponsored Links

Report Data Issue

To contact Asahi Tec Corporation, please visit www.asahitec.co.jp. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.