TAMIYA, Inc., a Japanese manufacturer of plastic scale models and radio-control products for hobbyists, confirmed plans to invest P2 billion in an expansion of its Cebu operation this year, the Department of Trade and Industry (DTI) said. READ:
In a statement on Tuesday, the DTI said Tamiya Chairman and President Shunsaku Tamiya confirmed the company’s widely reported decision to set up a new facility at the Cebu Light Industrial Park, which is targeted to start operations by September 2023. The facility will add to the company’s current operation in Cebu.The DTI said the decision to invest was reported by Commercial Counselor Dita Angara-Mathay of the Philippine Trade and Investment Center in Tokyo.
According to the DTI, Tamiya’s annual production for export is valued at $30 million, of which 80% is produced in the Philippines.
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