According to Frost & Sullivan, TMEIC currently has the largest share of the market for 100kW and higher-output PV inverters, is receiving orders from across the globe and increased the unit sales of 100kW and higher-output PV inverters by about 43% in 2016.
Specifically, the sales increased from ¥60 billion (approx US$550 million) in 2016 to ¥100 billion in 2017, increasing the ratio of overseas sales from 40 to 60%.
"In 2016, TMEIC invested ¥8 billion worldwide for expanding its overseas business, and India accounted for half of it," Frost & Sullivan said. "It has an excellent global strategy. For example, the basic designs of its products are developed in Japan, and the final specifications are set at each factory in consideration of local needs. By exporting main devices from factories in Japan, the company prevents the quality of products manufactured outside Japan from being lowered."
According to TMEIC, it received the award because the following items were highly evaluated: (1) the introduction of advanced solutions that anticipate market needs, (2) sales and product strategies that flexibly respond to market trends in Japan and around the world, (3) global development of its production and supply strategies through the establishment of multiple overseas manufacturing bases that yield high-quality products and services on par with the technology, skills and quality of mother factories in Japan and (4) efforts toward reducing environmental loads at its global manufacturing bases.