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Competing in the Global Truck Industry Emerging Markets Spotlight
KPMG INTERNATIONAL Competing in the Global Truck Industry Emerging Markets Spotlight Challenges and future winning strategies September 2011 kpmg.com ii | Competing in the Global Truck Industry – Emerging Markets Spotlight Acknowledgements We would like to express our special thanks to the Institut für Automobilwirtschaft (Institute for Automotive Research) under the lead of Prof. Dr. Willi Diez for its longstanding cooperation and valuable contribution to this study. Prof. Dr. Willi Diez Director Institut für Automobilwirtschaft (IfA) [Institute for Automotive Research] [email protected] www.ifa-info.de We would also like to thank deeply the following senior executives who participated in in-depth interviews to provide further insight: (Listed alphabetically by organization name) Shen Yang Senior Director of Strategy and Development Beiqi Foton Motor Co., Ltd. (China) Andreas Renschler Member of the Board and Head of Daimler Trucks Division Daimler AG (Germany) Ashot Aroutunyan Director of Marketing and Advertising KAMAZ OAO (Russia) Prof. Dr.-Ing. Heinz Junker Chairman of the Management Board MAHLE Group (Germany) Dee Kapur President of the Truck Group Navistar International Corporation (USA) Jack Allen President of the North American Truck Group Navistar International Corporation (USA) George Kapitelli Vice President SAIC GM Wuling Automobile Co., Ltd. (SGMW) (China) Ravi Pisharody President (Commercial Vehicle Business Unit) Tata Motors Ltd. (India) © 2011 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. All rights reserved. Competing in the Global Truck Industry – Emerging Markets Spotlight | iii Editorial Commercial vehicle sales are spurred by far exceeded the most optimistic on by economic growth going in hand expectations – how can we foresee the with the rising demand for the transport potentials and importance of issues of goods. -
Why the Russians Backed the Opel-Magna-GAZ Deal??
Why the Russians backed the Opel-Magna-GAZ deal?? Evolution of Russian Market PC Regs. Credit: R L Polk Keep three facts in mind: the Russian car market will be the largest in ‘Europe’ by 2012. The average amount people are willing to spend on a car is rising rapidly ($21,700 in 2008). Foreign car makers are taking a growing slice of the market away from domestic producers. Potentially, Russia is one of the globe’s ‘prize’ markets and its domestic car makers do not intend to give it all away to foreigners. Since the collapse of the Soviet Union in 1991, the car market in Russia has split into two broad geographic segments: in west Russia, the affluent ‘have’ buyers acquire cars that match European standards. They are mostly full or Russian-built imports; in east Russia, the majority ‘have-nots’ buy cheaper, domestic cars. The challenge facing the domestic producers is that their customer base want cars of similar standards as the imports. Domestic and Foreign Shares of the lucrative Russian Car Market 2002 - 2008 So, what’s the problem? To start with, domestic cars are still plagued with sub-standard suppliers and counterfeit after-market parts. Quality control in the factory’s is embryonic, so electrical and trim parts are poor, engineering in unreliability. To cap it all, many domestic brands are tarnished by their terrible reputation established in the ‘90’s—with the fall of the Soviet Union—when production quality collapsed as they couldn’t pay their workers. Another obstacle is emissions compliance. Most domestic cars meet Euro 0 standards and only in 2010 will Euro 2 be required. -
Wilmington Funds Holdings Template DRAFT
Wilmington Global Alpha Equities Fund as of 5/31/2021 (Portfolio composition is subject to change) ISSUER NAME % OF ASSETS USD/CAD FWD 20210616 00050 3.16% DREYFUS GOVT CASH MGMT-I 2.91% MORGAN STANLEY FUTURE USD SECURED - TOTAL EQUITY 2.81% USD/EUR FWD 20210616 00050 1.69% MICROSOFT CORP 1.62% USD/GBP FWD 20210616 49 1.40% USD/JPY FWD 20210616 00050 1.34% APPLE INC 1.25% AMAZON.COM INC 1.20% ALPHABET INC 1.03% CANADIAN NATIONAL RAILWAY CO 0.99% AIA GROUP LTD 0.98% NOVARTIS AG 0.98% TENCENT HOLDINGS LTD 0.91% INTACT FINANCIAL CORP 0.91% CHARLES SCHWAB CORP/THE 0.91% FACEBOOK INC 0.84% FORTIVE CORP 0.81% BRENNTAG SE 0.77% COPART INC 0.75% CONSTELLATION SOFTWARE INC/CANADA 0.70% UNITEDHEALTH GROUP INC 0.70% AXA SA 0.63% FIDELITY NATIONAL INFORMATION SERVICES INC 0.63% BERKSHIRE HATHAWAY INC 0.62% PFIZER INC 0.62% TOTAL SE 0.61% MEDICAL PROPERTIES TRUST INC 0.61% VINCI SA 0.60% COMPASS GROUP PLC 0.60% KDDI CORP 0.60% BAE SYSTEMS PLC 0.57% MOTOROLA SOLUTIONS INC 0.57% NATIONAL GRID PLC 0.56% PUBLIC STORAGE 0.56% NVR INC 0.53% AMERICAN TOWER CORP 0.53% MEDTRONIC PLC 0.51% PROGRESSIVE CORP/THE 0.50% DANAHER CORP 0.50% MARKEL CORP 0.49% JOHNSON & JOHNSON 0.48% BUREAU VERITAS SA 0.48% NESTLE SA 0.47% MARSH & MCLENNAN COS INC 0.46% ALIBABA GROUP HOLDING LTD 0.45% LOCKHEED MARTIN CORP 0.45% ALPHABET INC 0.44% MERCK & CO INC 0.43% CINTAS CORP 0.42% EXPEDITORS INTERNATIONAL OF WASHINGTON INC 0.41% MCDONALD'S CORP 0.41% RIO TINTO PLC 0.41% IDEX CORP 0.40% DIAGEO PLC 0.40% LENNOX INTERNATIONAL INC 0.40% PNC FINANCIAL SERVICES GROUP INC/THE 0.40% ACCENTURE -
Mizuho BK Custody and Proxy Board Lot Size List OCT 27, 2020 21LADY
Mizuho BK Custody and Proxy Board Lot Size List OCT 27, 2020 Board Lot Stock Name (in Alphabetical Order) ISIN Code QUICK Code Size 21LADY CO.,LTD. 100 JP3560550000 3346 3-D MATRIX,LTD. 100 JP3410730000 7777 4CS HOLDINGS CO.,LTD. 100 JP3163300001 3726 A DOT CO.,LTD 100 JP3160590000 7063 A-ONE SEIMITSU INC. 100 JP3160660001 6156 A.D.WORKS GROUP CO.,LTD. 100 JP3160560003 2982 A&A MATERIAL CORPORATION 100 JP3119800005 5391 A&D COMPANY,LIMITED 100 JP3160130005 7745 A&T CORPORATION 100 JP3160680009 6722 ABALANCE CORPORATION 100 JP3969530009 3856 ABC-MART,INC. 100 JP3152740001 2670 ABHOTEL CO.,LTD. 100 JP3160610006 6565 ABIST CO.,LTD. 100 JP3122480001 6087 ACCESS CO.,LTD. 100 JP3108060009 4813 ACCESS GROUP HOLDINGS CO.,LTD. 100 JP3108190004 7042 ACCRETE INC. 100 JP3108180005 4395 ACHILLES CORPORATION 100 JP3108000005 5142 ACMOS INC. 100 JP3108100003 6888 ACOM CO.,LTD. 100 JP3108600002 8572 ACRODEA,INC. 100 JP3108120001 3823 ACTCALL INC. 100 JP3108140009 6064 ACTIVIA PROPERTIES INC. 1 JP3047490002 3279 AD-SOL NISSIN CORPORATION 100 JP3122030004 3837 ADASTRIA CO.,LTD. 100 JP3856000009 2685 ADEKA CORPORATION 100 JP3114800000 4401 ADISH CO.,LTD. 100 JP3121500007 7093 ADJUVANT COSME JAPAN CO.,LTD. 100 JP3119620007 4929 ADTEC PLASMA TECHNOLOGY CO.,LTD. 100 JP3122010006 6668 ADVAN CO.,LTD. 100 JP3121950004 7463 ADVANCE CREATE CO.,LTD. 100 JP3122100005 8798 ADVANCE RESIDENCE INVESTMENT CORPORATION 1 JP3047160001 3269 ADVANCED MEDIA,INC. 100 JP3122150000 3773 ADVANEX INC. 100 JP3213400009 5998 ADVANTAGE RISK MANAGEMENT CO.,LTD. 100 JP3122410008 8769 ADVANTEST CORPORATION 100 JP3122400009 6857 ADVENTURE,INC. 100 JP3122380003 6030 ADWAYS INC. 100 JP3121970002 2489 AEON CO.,LTD. 100 JP3388200002 8267 AEON DELIGHT CO.,LTD. -
Volkswagen Truck & Bus and Russian GAZ Group Sign Letter of Intent
Volkswagen Truck & Bus and Russian GAZ Group sign letter of intent • The core of the letter of intent is to look into possibilities of a strategic partnership between Volkswagen Truck & Bus and GAZ Group • Signing with the participation of the Governor of Nizhniy Novgorod, Valery Shantsev • Andreas Renschler: “With this bilateral letter of intent, we are taking another important step in our Global Champion strategy and are clearly demonstrating our commitment to the Russian market.” • Manfred Eibeck: “Expansion of cooperation between the GAZ Group and Volkswagen Truck & Bus will make it possible to explore our capabilities for the development in commercial transport segments.” Nizhniy Novgorod, June 15, 2017 – Today, Volkswagen Truck & Bus and the GAZ Group, a part of Russian Machines Corporation consolidating the machine-building assets of the Basic Element Group, signed a letter of intent in Nizhniy Novgorod, Russia, which will enable the companies to identify the possibilities for a long-term strategic partnership. The main focus will be on the delivery and joint assembly of components as well as joint product concepts. The Volkswagen Truck & Bus Group with its brands MAN, Scania, and Volkswagen Caminhões e Ônibus as well as the GAZ Group, which is the largest manufacturer in Russia of light-, medium- and heavy-duty commercial vehicles, already have a long-standing partnership in the bus sector. Now, this relationship of trust is to be intensified to the mutual benefit of both companies. Volkswagen Truck & Bus has a comprehensive portfolio of technologies as well as an extensive international sales network. As the largest manufacturer of vans, trucks, buses, and passenger cars in its home market, the GAZ Group has an excellent local competence and infrastructure. -
Published on 7 October 2016 1. Constituents Change the Result Of
The result of periodic review and component stocks of TOPIX Composite 1500(effective 31 October 2016) Published on 7 October 2016 1. Constituents Change Addition( 70 ) Deletion( 60 ) Code Issue Code Issue 1810 MATSUI CONSTRUCTION CO.,LTD. 1868 Mitsui Home Co.,Ltd. 1972 SANKO METAL INDUSTRIAL CO.,LTD. 2196 ESCRIT INC. 2117 Nissin Sugar Co.,Ltd. 2198 IKK Inc. 2124 JAC Recruitment Co.,Ltd. 2418 TSUKADA GLOBAL HOLDINGS Inc. 2170 Link and Motivation Inc. 3079 DVx Inc. 2337 Ichigo Inc. 3093 Treasure Factory Co.,LTD. 2359 CORE CORPORATION 3194 KIRINDO HOLDINGS CO.,LTD. 2429 WORLD HOLDINGS CO.,LTD. 3205 DAIDOH LIMITED 2462 J-COM Holdings Co.,Ltd. 3667 enish,inc. 2485 TEAR Corporation 3834 ASAHI Net,Inc. 2492 Infomart Corporation 3946 TOMOKU CO.,LTD. 2915 KENKO Mayonnaise Co.,Ltd. 4221 Okura Industrial Co.,Ltd. 3179 Syuppin Co.,Ltd. 4238 Miraial Co.,Ltd. 3193 Torikizoku co.,ltd. 4331 TAKE AND GIVE. NEEDS Co.,Ltd. 3196 HOTLAND Co.,Ltd. 4406 New Japan Chemical Co.,Ltd. 3199 Watahan & Co.,Ltd. 4538 Fuso Pharmaceutical Industries,Ltd. 3244 Samty Co.,Ltd. 4550 Nissui Pharmaceutical Co.,Ltd. 3250 A.D.Works Co.,Ltd. 4636 T&K TOKA CO.,LTD. 3543 KOMEDA Holdings Co.,Ltd. 4651 SANIX INCORPORATED 3636 Mitsubishi Research Institute,Inc. 4809 Paraca Inc. 3654 HITO-Communications,Inc. 5204 ISHIZUKA GLASS CO.,LTD. 3666 TECNOS JAPAN INCORPORATED 5998 Advanex Inc. 3678 MEDIA DO Co.,Ltd. 6203 Howa Machinery,Ltd. 3688 VOYAGE GROUP,INC. 6319 SNT CORPORATION 3694 OPTiM CORPORATION 6362 Ishii Iron Works Co.,Ltd. 3724 VeriServe Corporation 6373 DAIDO KOGYO CO.,LTD. 3765 GungHo Online Entertainment,Inc. -
US Sanctions on Russia
U.S. Sanctions on Russia Updated January 17, 2020 Congressional Research Service https://crsreports.congress.gov R45415 SUMMARY R45415 U.S. Sanctions on Russia January 17, 2020 Sanctions are a central element of U.S. policy to counter and deter malign Russian behavior. The United States has imposed sanctions on Russia mainly in response to Russia’s 2014 invasion of Cory Welt, Coordinator Ukraine, to reverse and deter further Russian aggression in Ukraine, and to deter Russian Specialist in European aggression against other countries. The United States also has imposed sanctions on Russia in Affairs response to (and to deter) election interference and other malicious cyber-enabled activities, human rights abuses, the use of a chemical weapon, weapons proliferation, illicit trade with North Korea, and support to Syria and Venezuela. Most Members of Congress support a robust Kristin Archick Specialist in European use of sanctions amid concerns about Russia’s international behavior and geostrategic intentions. Affairs Sanctions related to Russia’s invasion of Ukraine are based mainly on four executive orders (EOs) that President Obama issued in 2014. That year, Congress also passed and President Rebecca M. Nelson Obama signed into law two acts establishing sanctions in response to Russia’s invasion of Specialist in International Ukraine: the Support for the Sovereignty, Integrity, Democracy, and Economic Stability of Trade and Finance Ukraine Act of 2014 (SSIDES; P.L. 113-95/H.R. 4152) and the Ukraine Freedom Support Act of 2014 (UFSA; P.L. 113-272/H.R. 5859). Dianne E. Rennack Specialist in Foreign Policy In 2017, Congress passed and President Trump signed into law the Countering Russian Influence Legislation in Europe and Eurasia Act of 2017 (CRIEEA; P.L. -
Global Partnerships-Nov2011-WEB.Qxp
Guide to global automaker partnerships BMW AG Owned by: Joint venture: Technical/parts alliances: •Other shareholders - 53.3% •BMW Brilliance Automotive Co., China •PSA/Peugeot-Citroen - gasoline engines, Full ownership: •Quandt family - 46.7% Contract assembly: hybrid systems - France, Netherlands & UK •Mini •SGL Carbon - carbon fiber parts - Germany & U.S. •Magna Steyr, Austria •Rolls-Royce Motor Cars Ltd. •Daimler AG - joint purchasing of parts - Germany •Avtotor, Russia •Saab - gasoline engines - Germany & •BAMC, Egypt Sweden •PT Gaya Motor, Indonesia CHRYSLER GROUP Owned by: Joint venture: Technical/parts alliances: •Fiat North America LLC - 55.349% •Arab American Vehicles Co., Egypt •Fiat - vehicles, engines, transmissions & other components - North America, •UAW Retiree Medical Benefits Contract assembly: Trust - 44.651% Europe, Brazil & China •Fiat North America, Europe •ZF Friedrichshafen - transmissions, •Hyundai Motors, South Korea & India torque converters, axles - U.S.A., •Soueast Motor, China Germany and Mexico DAIMLER AG Owns: Joint venture: Technical/parts alliances: •Mitsubishi Fuso - 89% •Beijing Benz Automotive Co. (BBAC), China •Renault-Nissan - selected projects - Full ownership: •Renault - 3.1%; Nissan - 3.1% •Fujian Daimler Automotive (FJDA), China France & Japan •Mercedes-Benz Cars •Kamaz - 11% •BMW AG - joint purchasing of parts - Germany •EADS - 15% •Beijing Foton Daimler Automotive Co. •Daimler Trucks •Tognum - 49% (Engine Holding 50%) (BFDA), China •AFCC - fuel cell technology - Canada •Mercedes-Benz Vans •Tesla Motors - 7.8% •Fuso Kamaz Trucks, Russia •Deutsche Accumotive GmbH - lithium ion •Daimler Buses batteries - Germany Owned by: •Mercedes-Benz Trucks Vostok, Russia •Daimler Financial Services •EM-motive GmbH - electric motors - Germany •EvoBus •Aabar Investments - 9% Contract assembly: •Li-Tec GmbH - lithium ion battery •Kuwait Investments Auth.- 6.9% •Magna Steyr, Austria cells - Germany •Renault-Nissan - 3.1% •GAZ, Russia •Other shareholders - 81% CHINA FAW GROUP Owns: Joint venture: Technical/parts alliances: CORP. -
Sollers Financial Results 2019
SOLLERS FINANCIAL RESULTS 2019 July 3, 2020 CONTENT Sollers strategic Operating and financial 01 developments 03 performance 2019 Russian automotive Joint venture’s results 02 market overview 04 2 SOLLERS STRATEGIC DEVELOPMENTS (1/3) MARCH 2019 MAY 2019 JUNE 2019 Ford Sollers JV announced Adil Shirinov was appointed Nikolay Sobolev was restructuring. the CEO of Uliyanovsk appointed On Jul 1, 2019 Automotive Plant the CEO of Sollers Sollers acquired the controlling stake in the JV 3 SOLLERS STRATEGIC DEVELOPMENTS (2/3) JULY 2019 OCTOBER 2019 DECEMBER 2019 New Ford Sollers JV started UAZ starts sales of UAZ Sollers establishes operations Patriot ATM Engineering Centre 4 SOLLERS STRATEGIC DEVELOPMENTS (3/3) FEBRUARY 2020 APRIL 2020 APRIL 2020 Elena Frolova appointed Ford Sollers JV supplies UAZ launches the first series CEO of Mazda Sollers JV Ambulances to the Ministry of ambulances based on of Health fighting COVID-19 UAZ Profi platform 5 CONTENT Sollers strategic Operating and financial 01 developments 03 performance 2019 Russian automotive Joint venture’s results 02 market overview 04 6 RUSSIAN AUTOMOTIVE MARKET: LCV Total decline of CV sales – 3% 121 118 The slight decrease of 1,3% in LCV+MPV segment is mostly due to stop of Mercedes Sprinter Classic local assembly The share of Russian branded LCV+MPV went up from 69% to 71% while imported vehicles 104 and foreign assembly amount to 12% and 17% LCV+MPV 103 respectively CDV UAZ sales of commercial vehicles went down by 7%, the brand is #2 player with 19% market share 17 15 The sales -
Integrated Reporting to Support Sustainable Growth in Japan
Leveraging the Supply System Innovation (an initiative designed to ensure sustain- able wage growth and overcome deflation) and the Human Resources Develop- ment revolution (revolution for developing human resources) as two driving forces, the Japanese government declared its intentions in December 2017 to draw on the results of recent economic growth to create a foundation for a more secure society, and then use this foundation to spur further economic growth. In doing so, the gov- ernment has proposed a scenario for establishing a virtuous cycle of growth and returns. Amid ongoing corporate governance reforms, the Ministry of Economy, Trade and Industry (METI) has established the Forum for Integrated Corporate Disclosure and ESG Dialogue and has promptly undertaken initiatives in line with this action. In October 2017, the Government Pension Investment Fund (GPIF) revised its investment policies to promote ESG-focused investments in not only stocks but Corporate Value Reporting Lab also in other types of assets. Becoming a signatory for the Principles for Responsi- ble Investment (PRI) in 2015, the GPIF adopted ESG indices targeting domestic stocks in July 2017. In total, the GPIF selected and invested in three indices (two “broad” indices and one “thematic” index) that incorporate stocks in consideration Integrated Reporting of ESG factors and based on the information disclosed by corporations. The GPIF has also commenced passive investment to track each of these indices. While there are various methods for carrying out ESG investments, the indices recently to Support adopted by the GPIF make use of “positive screening,” which incorporates stocks with a high evaluation under ESG-focused criteria established by the index compa- nies. -
Nr.105 (01.06 – 15.06)
Selected News 0 1 . 0 6 – 1 5 . 0 6 . 2 0 1 7 Russian Government plans to boost car exports to 240,000 vehicles in 2025 15.06.2017 / Kommersant T h e Ministry of Industry and Commerce has announced a development strategy for car exports until 2025. According to the baseline scenario, an annual export growth of $4.9 billion is expected: to 240,000 vehicles per year (10% of the production) and $1.6 b i l l i o n worth of auto components. In an ambitious scenario, the exports will rise to $7.8 billion: 400,000 automobiles and components by 16%, generating $2.5 billion. Government subsidies will amount to 136 billion rubles between 2018 - 2015 under the baseline scenari o and to 215 billion rubles under the ambitious scenario, as written in Kommersant. CIS - c o u n t r i e s , the Middle - East (Iran, Lebanon, Jordan), a number of European countries (Czech Republic, Germany, Austria), Asia (India, China), Africa (Egypt, Algeria, Tunisia, Ethiopia) and several countries from Latin America and Southeast Asia are na m e d a s export markets with priority for Russian car manufacturers. CIS - countries, Iran and Lebanon are considered as priority markets f o r international automakers, alongside Turkey, South Africa, Egypt and Tunisia. In general, there are no fundamentally new export support measures in the project. There are plans to formulate a stable export support system for 8 - 10 years, in order to evaluate business cases for the life cycle of the model. It’s expected to develop the suppliers of subcomponents and second and third level materials to reduce costs and the dependency on the ruble exchange rate . -
Suppliers to the 2021 Nissan Murano
18 • MAY 24, 2021 SPECIAL DATA SECTION U.S. loyalty rates by make & manufacturer through Jan. 2021 - R3* Top suppliers list CY PY CY PY CY PY CY PY make make mfg mfg make make mfg mfg loyalty loyalty loyalty loyalty loyalty loyalty loyalty loyalty coming June 28 rate rate rate rate rate rate rate rate ASTON MARTIN ............. 62.5% 36.1% 62.5% 36.1% Freightliner ......................... 13.9% 28.9% 66.7% 68.4% Automotive News’ annual rank- Maybach ............................ 0.0% 0.0% 75.0% 100.0% ing of top suppliers will be pub- BMW .................................. 65.4% 66.9% 66.1% 67.6% Mercedes-Benz .................. 62.2% 67.1% 62.3% 67.1% lished as a supplement with the Mini .................................... 43.4% 38.8% 52.9% 49.0% Mercedes-Benz Sprinter/Metris 69.3% 78.2% 70.1% 78.8% Other .................................. 0.0% 8.5% 8.6% 19.4% June 28 issue. Rolls-Royce ....................... 40.4% 46.8% 58.9% 58.6% The guide ranks companies by BMW GROUP ................ 63.3% 64.2% 64.9% 65.8% MERCEDES-BENZ USA ..... 62.1% 67.1% 62.3% 67.2% sales of original equipment MITSUBISHI .................. 39.7% 46.2% 39.7% 46.2% Alfa Romeo ........................ 53.4% 44.2% 64.0% 58.9% parts and has been a staple of Chrysler ............................. 27.9% 29.6% 56.1% 58.7% Infiniti................................. 43.8% 48.1% 48.4% 53.5% the Automotive News Research Dodge ................................ 26.3% 27.1% 64.9% 65.3% Nissan ................................ 61.2% 61.6% 62.2% 63.3% & Data Center for three decades.