ASTEMO HANOI CO., LTD.

HITACHI ASTEMO HANOI CO., LTD, registered under Business ID and Tax Code 0100142907, is a foreign-invested enterprise based in Lot M-6, Thang Long Industrial Park, Vong La Commune, Dong Anh District, Ha Noi City, Vietnam. With a robust operational history since 3 October 2008, the company specializes in the manufacture of parts and accessories for motor vehicles, including power steering components for cars and marine applications. It employs over 2,180 workers, reflecting a large-scale manufacturing base in the northern industrial corridor.

Despite its strategic ownership—91.55% held by HITACHI ASTEMO, LTD. (Japan) and 8.45% by PetroVietnam Machinery Technology JSC (Vietnam)—the company faced a moderate decline across key financial indicators in FY2024, ending on 31 March 2024.

Revenue dropped by 11.6% year-over-year, totaling USD 151.7 million, compared to USD 171.6 million in FY2023. Similarly, net profit declined to USD 23.9 million, an 8.68% drop from the previous year. While these figures still suggest a healthy bottom line, the downward trend may indicate slowing demand or tightening margins across the automotive sector, particularly given global supply chain adjustments and shifting mobility trends.

In terms of assets, the company reported USD 72.46 million, reflecting a 3.71% contraction. Meanwhile, owner’s equity decreased slightly by 4.16%, finishing the year at USD 52.26 million. However, HITACHI ASTEMO HANOI still retains a strong working capital base of USD 43.61 million, which underscores its continued financial resilience despite top-line contraction.

Leading the operations is Mr. Ito I., a Japanese national, serving as General Director. Ms. Tran T. H. M., the Chief Accountant, manages the financial oversight. Their leadership team navigates a complex industrial and trade landscape while maintaining tight control over costs and output capacity.

While FY2024 shows a correction from two years of growth, the company’s profitability and capital adequacy remain strong. Its commitment to localized high-precision manufacturing positions it well for future recovery, especially as global demand for electric and fuel-efficient vehicles resurges.

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