Workplace reviews and discussion: 富田電機股份有限公司

Those who are thinking of joining really need to consider it carefully.

Fukuta initially made a name for itself through Tesla,

and then there was no “then.”

After losing Tesla’s large orders,

the company’s revenue did not continue to expand either,

remaining stagnant at just over NT$900 million in annual revenue.

Later, after finally being introduced to Mazda,

it had no choice but to grit its teeth and see it through.

Tesla could no longer provide large orders,

and the core business could not grow its performance either.

Could you not fight on?

But once it did, things got serious.

The company burned through money until it was nearly unable to bear it,

reaching a point where its survival was hanging by a thread.

Revenue did not grow,

so where did the money for the Mazda investment come from?

Do you understand now why it issued a press release saying it was preparing to go public on the Emerging Stock Market???

The company’s marketing is also quite laughable.

There are probably more people in marketing than in R&D.

What is marketing doing?

With so many people, performance has not improved much either.

The reason revenue grew from just over NT$900 million to NT$1.5–1.6 billion over the past two years was actually shipments of Mazda samples.

The core business is naturally still in the same sorry state.

What exactly is marketing doing?

Oh! Translating.

They are listed under marketing but do translation work,

interpreting at customer meetings.

I think they might as well add a department called the Translation Section.

As far as I can see, marketing is not doing any marketing at all!!!

The price of one complete Fukuta-Mazda assembly is approximately what is stated in the news article below:

https://www.businesstoday.com.tw/article/category/154769/post/201911270033/

A Japanese automaker has already placed orders for at least 60,000 sets annually, with a total value exceeding NT$5 billion, for the new product.

Zhang Jinfeng confidently disclosed that, in addition to currently being priced at more than NT$100,000 per unit, the “three-machines-in-one” module could receive orders for at least 60,000 sets annually in the future.

Using NT$5.5 billion for 60,000 sets,

let’s say one complete assembly costs NT$100,000.

Actually, it is not as many as 60,000 sets—

it is fewer than 20,000 sets.

Annual revenue would be approximately NT$2 billion,

plus the previous annual revenue of just over NT$900 million,

so future revenue would be approximately NT$3 billion.

However, the news said mass production would begin in 2021.

It is already 2023.

You can see how much more time and money have been spent by now.

In the following press release, Fukuta said it invested more than NT$2 billion in the new Tongluo plant:

https://www.bnext.com.tw/article/61330/tesla-fukuta

The company profile on 104 states that it invested NT$2.5 billion:

“Our Phase 2 plant in Tongluo Science Park was completed and began operations in the third quarter of 2020, with a total investment of NT$2.5 billion.”

The press release below states that testing costs were NT$1 billion:

https://www.chinatimes.com/newspapers/20220802000330-260210

In total, NT$3.5 billion has already been spent on the Tongluo plant and the Mazda project.

Those interested can calculate Fukuta’s recent gross profit, operating profit, and net income after tax for themselves,

and then estimate how long it will take to earn back NT$3.5 billion....

What is even worse is that

the production lines inside the new plant have not actually been fully set up.

At present, only the first project that Mazda is preparing for mass production has been opened,

and naturally there is only one set of equipment for it.....

Even the air conditioning has not been installed properly.

I also do not really understand why the plant has been built but the air conditioning has not been installed properly.

So at present, Mazda’s production line only has the project Mazda is currently preparing for mass production.

Nothing else is ready yet.

Those interested in joining really need to think it through carefully.

It is not as if you will make a huge amount of money, as you may imagine.

Instead, the dozens of thousands of sets claimed in the news do not exist,

the production lines and the entire plant are not fully ready,

and mass production has not begun yet.

Money is still being poured in,

and no one knows when mass production can begin.

It is also unknown whether operations will be stable after mass production starts.

Everything in the news is presented as positive news only.

Think it over carefully.