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Saturday, October 22, 2005

Ricardo Expands in Japan With New Tokyo Facility

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Following a nine-fold increase in its Japanese business in the past five years, global automotive technology provider Ricardo plc today formally opened its new facility close to the centre of Tokyo’s main business district. Located in the landmark FukokuSemiei building overlooking Hibiya Park and the Imperial Palace, the new office was formally opened by Graham Fry, British Ambassador to Japan
Japan is one of the most technologically sophisticated markets in the global automotive industry, and one in which Ricardo has been active since the 1960s. It is also key, with Japanese automakers currently assembling more light vehicles than either the US or European industries. As an automotive technology provider and product development specialist Ricardo finds a perfect match in the high technology and quality focus of the Japanese automakers, together with their aggressively short development programme timescales. Changes in outsourcing policies and increasing alliances between Japanese and North American and European automakers has helped Ricardo’s Japanese order intake to grow dramatically in the current decade.

The new Ricardo Tokyo facility is intended to facilitate further penetration of the Japanese market by improving the quality and responsiveness of service provided to customers. The company has already recruited a number of Japanese engineers to work alongside the existing team, who will share this facility with visiting engineers from the company’s international network of technical centres located throughout Europe, North America and Asia. This solid investment will enable the company to improve the quality, responsiveness and competitiveness of service delivered to its Japanese customers.

Graham Fry, British Ambassador to Japan, formally opened the new facility today. Commenting on this key expansion of Ricardo’s technical and commercial reach into the Japanese automotive market, incoming Ricardo CEO, Dave Shemmans said: “Following five years of dramatic growth of Ricardo’s business in Japan, the new Tokyo facility is a further sign of our commitment to increase and improve the level of service we provide to our customers in this technologically advanced and challenging market. Together with our recently announced expansion in China, the new facility in Tokyo underscores the fact that Ricardo is becoming a major technology presence throughout the Asia-Pacific region.”

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With technical centres in the UK, USA, Germany and the Czech Republic, Ricardo is a leading independent technology provider and strategic consultant to the world’s automotive industries. The company’s engineering expertise ranges from vehicle systems integration, controls, electronics and software development, to the latest driveline and transmission systems and gasoline, diesel, hybrid and fuel cell powertrain technologies. Its customers include the world’s major vehicle, engine and transmission manufacturers, tier 1 suppliers and leading motorsport teams. Ricardo is committed to excellence and industry leadership in people, technology and knowledge; approximately 70 per cent of its employees are highly qualified multi-disciplined professional engineers and technicians. A public company, Ricardo plc posted sales of £146 million in fiscal year 2004 and is a constituent of the FTSE techMark 100 index – a group of innovative technology companies listed on the London Stock Exchange.

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