Yazaki Haiphong Vietnam Ltd. (Vietnam)

YHV has operated for 22 years in Vietnam. It was invested to manufacture wire harness for automobile. Presently, the company has three factories with workforce of more than 14,000 people located in Hai Phong, Thai Binh and Quang Ninh provinces. Its products are mostly exported abroad, mainly to Japan and China.The 2020-2023 global chip shortage is ongoing, affecting more than 169 industries. The back-to-back waves of COVID-19, followed by the semiconductor shortage and lack of auto spare parts supply forced the auto industry to axe nearly ten million vehicles from production in 2021. It was expected that 2022 would be better, as the auto industry was recovering from the chip shortage. But Russia - Ukraine war has pushed the auto industry into a vulnerable situation. 2022 was a difficult year for the global auto industry.The company's business situation was not also outside the common situation. According to the female general accountant, turnover of the company last year was reduced by nearly 15% over the prior year. However, input production costs still remained, thus gross profit dived in FYE 31 Mar 2023. In addition, the VND devalued against the USD, and bank interest rates rose back after two years of the COVID-19 pandemic. Above reasons caused a large loss of VND 198 billion last year, she said. Supply of semiconductors and raw materials is being improved in the auto industry, thus the company's business activity is getting better in the last half of 2023, the general accountant added.