Strategic Partnership Between Ichinomiya Electric Corporation & Amneo Drive

Suzhou, China – February 2, 2019 — In a significant move aimed at expanding its presence in the Chinese market, Ichinomiya Electric Corporation, a leading Japanese industrial and electric components conglomerate, has acquired a 49% stake in Amneo Drive, a prominent Chinese manufacturer in the electric drive sector. This partnership marks a major step in the two companies’ shared vision of innovation, growth, and cross-border collaboration in the ever-evolving electric mobility and automation industry.

On February 2, 2019, a strategic cooperation signing ceremony was held in Suzhou to commemorate this milestone partnership. The ceremony was attended by senior executives, including Mr. Hiroshi Akita, President of Ichinomiya Electric Corporation, and representatives of Suzhou Amneo Drive. During the event, both parties officially announced the establishment of a new joint venture company named Kinetec Amneo Drive Electric, which will serve as a platform for joint manufacturing, research and development, and market expansion in China and throughout Asia.

A Partnership Built on Shared Vision

The decision by Ichinomiya Electric Corporation to invest in Suzhou Amneo Drive reflects the company’s strategic commitment to strengthening its industrial footprint in Asia's largest and fastest-growing electric technology market. Known for its precision engineering and high-quality electrical components, Ichinomiya has long been a trusted name in Japan’s industrial landscape. By entering the Chinese market through Suzhou Amneo Drive, Ichinomiya aims to bring its decades of expertise and innovation into one of the world’s most dynamic economic regions.

“We are very pleased to form this partnership with Suzhou Amneo Drive,” said Mr. Hiroshi Akita, President of Ichinomiya Electric Corporation. “This collaboration is not just a business investment—it represents a shared belief in innovation, technical excellence, and the future of electrified mobility and automation. By combining our strengths, we believe we can create new value for customers in China and beyond.”

Suzhou Amneo Drive, established in Suzhou's high-tech zone, specializes in electric drive systems used in a variety of applications, including electric vehicles, smart manufacturing, robotics, and industrial automation. With a strong engineering team, state-of-the-art production facilities, and a deep understanding of local market dynamics, the company has rapidly gained a reputation for quality and innovation in China’s competitive industrial technology space.

“This partnership is a pivotal moment for our company,” said a representative from Suzhou Amneo Drive. “Having Ichinomiya Electric Corporation as a strategic partner allows us to enhance our technological capabilities, improve our operational standards, and expand our market access significantly. We are confident that this alliance will lead to exciting breakthroughs in product development and customer solutions.”

Formation of Kinetec Amneo Drive Technology

The joint venture company, Kinetec Amneo Drive Technology, will be headquartered in Suzhou and will focus on the research, development, production, and distribution of high-performance electric drive systems and related technologies. The company will integrate the core competencies of both parent companies, leveraging Ichinomiya’s international experience and technical know-how alongside Amneo’s local agility and market knowledge.

Kinetec Amneo Drive Electric will place particular emphasis on:

• Developing next-generation Elevator Traction Machines & Electric Drive Systems tailored for Chinese and Asian markets

• Introducing advanced Japanese manufacturing processes and quality assurance systems

• Enhancing supply chain and after-sales service capabilities throughout China

• Collaborating with academic and industrial research institutions on future technologies

The joint venture also aims to contribute to the transformation of industrial mobility by aligning with China’s strategic goals around intelligent manufacturing, green energy, and sustainable urban development.

Driving the Future of Electrification in China

With China emerging as a global hub for electric mobility, smart factories, and high-tech industrial automation, the demand for efficient, reliable, and intelligent electric drive systems is on the rise. Governments, manufacturers, and end-users alike are seeking technologies that are energy-efficient, environmentally friendly, and capable of delivering high performance in demanding applications.

By combining Ichinomiya’s strong research background and long-standing reputation for excellence with Amneo’s local manufacturing base and customer relationships, Kinetec Amneo Drive Electric is well-positioned to play a pivotal role in this transformation.

In the coming years, the joint venture plans to expand its workforce, invest in new production lines, and launch a series of innovative products for use in e-mobility platforms, robotic automation systems, and renewable energy applications.

A Symbol of International Cooperation

The Ichinomiya–Amneo partnership is more than just a business deal—it serves as a symbol of international cooperation in a time when global markets are becoming increasingly interconnected. The success of Kinetec Amneo Drive Electric will depend not only on technological innovation but also on mutual trust, respect, and a long-term commitment to shared goals.

“We believe this partnership represents a win-win strategy,” added Mr. Hiroshi Akita. “Together, we will not only strengthen our respective positions in the market but also contribute meaningfully to industrial development and technology advancement in the region.”

As the global economy continues to shift toward sustainable and intelligent technologies, partnerships like this one will serve as the foundation for the next era of industrial progress.

Looking Ahead

Kinetec Amneo Drive Electric is scheduled to begin operations in the second quarter of 2019, with initial focus on assembling integrated electric drive units and providing localized support for existing clients. Plans for future expansion include the development of proprietary motor control systems and embedded software solutions aimed at meeting the growing needs of China’s advanced manufacturing ecosystem.

The founding of the joint venture represents a bold step forward not only for Ichinomiya Electric Corporation and Suzhou Amneo Drive, but also for the broader electric technology industry in Asia.