Major Japanese investment in electronics

A Japanese electronics’ manufacturer which supplies companies like Canon, Panasonic, Hitachi, Sony and Samsung, last week signed an agreement with the Board of Investment (BOI) to set up a US$30 million plant to manufacture electrical components for the export market. Okaya Electric Industries’ local subsidiary will be located at the Katunayake Export Processing Zone and provide jobs for over 1000 workers.

Okaya is an international company that designs, manufactures and markets Electrical Noise Suppression Components, LED products and for use in the Electrical and Electronics industry. Aoki Masamitsu, Managing Director of Okaya Lanka (the local subsidiary) said Okaya Lanka will invite top officials of Japan for the commencement of commercial operations.

Picture shows Investment Promotion Minister Sarath Amunugama formally handing over the BOI agreement document to the management of Okaya Lanka Ltd. Dhammika Perera, Chairman/Director General of the BOI and Thosapala Hewage, Secretary of the Ministry of Enterprise Development and Investment Promotion were also present at this occasion. Masamitu Aoki (Managing Director) and Teruto Oguchi (Director - Operation) signed the agreement on behalf of the company.