Utilizing the power of steel and other materials to create products and services that contribute to industry solutions.
The Iron & Steel Products Business Unit provides customers across wide-ranging industries, both in Japan and overseas, with services relating to the procurement, processing, manufacturing, and supply of iron and steel products. Through comprehensive initiatives that utilize the broad range of Mitsui & Co.'s business assets, partnerships with clients and other strengths, we leverage the power of steel and other materials in each of our strategic domains of infrastructure, mobility, and energy as we execute investments in anticipation of industry challenges and the potential needs of customers. With the iron and steel industry matured in Japan, and as the trend toward local production and local consumption accelerates mainly in emerging countries, we will work to develop new business that fully leverages our integrated strength, and further improve customer satisfaction.
Building value chains in our strategic domains
In the infrastructure area, we are strengthening our electric arc furnace (EAF) and comprehensive infrastructure maintenance businesses even further to as part of efforts to contribute to the extension of infrastructure lifespans and as part of efforts towards the development of a recycling-focused and circular economy. We have expanded our operating base in Japan and overseas with the acquisition of a stake in Yamato Kogyo Co., Ltd., one of Japan's largest independent EAF steelmakers, and continue to build a steel supply chain system for infrastructure projects in rapidly growing emerging countries. In 2019, we established a joint venture with SHO-BOND Holdings Co., Ltd., a company specialized in infrastructure maintenance, for the development of business overseas.
In the mobility area, we are strengthening business aimed at making vehicle bodies lighter, and business related to electric vehicles (EV) as part of our pursuit of next-generation mobility. In 2013, we acquired a stake in the Americas business of Spain's Gestamp Automoción, S.L., one of the world's largest manufacturers of automotive components, and in 2016, we invested in Gestamp Automoción, S.L. itself. In addition to supplying steel, we aim to provide high added value service to meet customer needs globally. We also launched a global expansion of our business in the development, manufacture, and sale of high-efficiency motors for industrial use and EV powertrains, beginning with a foothold in India via a joint venture established with Taiwan's TECO Electric & Machinery Co., Ltd. in 2018.
In the energy area, we continue to build steel supply chain systems globally for the oil and gas industry, which is expected to grow continuously. Additionally, in response to changes in the supply structure, such as the increase in the use of renewable energy, we are leveraging our wind turbine tower and flange manufacturing business, etc., with Spain's GRI Renewable Industries, S.L.
Through these processes, we are strengthening our earnings base by building a network of business alliances with leading companies in Japan and overseas in our three strategic domains – infrastructure, mobility, and energy. While collaborating with other Mitsui business units to develop operations in other growth markets around the world, we continue to expand our business fields globally.