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Syrma SGS Technology has entered into a JV with Japan-based Kaga Electronics

ICICIdirect Research 23 Jun 2026 DISCLAIMER

News: Syrma SGS Technology has entered into a JV with Japan-based Kaga Electronics to establish a technologically advanced EMS manufacturing facility in India focused on serving Japanese customers. Syrma will hold a 60% stake in the JV, while Kaga will own 40%, with an initial equity investment of ~₹25 crore. 

View: Kaga Electronics is a leading Japanese electronics solutions provider with strong capabilities in electronic components distribution, EMS manufacturing and supply-chain management, serving customers across industrial, automotive and consumer electronics segments. The partnership provides Syrma access to Kaga’s extensive Japanese OEM network, potentially accelerating customer acquisition and export growth. Syrma’s current export stands at ~25% of revenue with relatively higher margins. This JV will open opportunities for Syrma’s export market. Also, this JV could strengthen Syrma’s positioning in high-value electronics manufacturing through technology collaboration, supply-chain integration and deeper participation in Japan-linked global supply chains. 

Impact: Positive

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