Daiwa owner announces 15 billion yen factory redevelopment

Globeride – the owner of the Daiwa fishing brand – has announced plans to build a new factory at its headquarters near Tokyo at an estimated cost of 15 billion yen.

The business, which owns outdoor brands in the fishing, tennis, cycling and golf industries, told investors that the work on the site in Higashi Karume-shi is scheduled to start next  year and be completed by 2032 and will support production of Daiwa products.

The site is home to the company’s head office and has been in operation since 1960 as a manufacturing base for Daiwa’s fishing reels.

The company will utilise land adjacent to the east side of its head office factory, which was acquired in 2022, by demolishing parts of the existing building and constructing a new factory.

Construction costs and related expenses for the new factory are expected to be around 15 billion yen with the costs of acquiring new production equipment and renovating existing buildings budgeted at approximately 16.5 billion yen.

Before the start of the development, the company is currently proceeding with an Environmental Impact Assessment procedure, which is expected to be completed around July, paving the way for the beginning of work to commence.

The project will not affect Globeride’s consolidated earnings forecast for the year ending March 31, 2026.