TOKYO -- Ten years since the 2011 earthquake and tsunami in northern Japan, Tungaloy, a local carbide tool manufacturer, has taken on the challenge of reorganizing its management, taking inspiration from the investing style of famed American investor Warren Buffett, as the region rebuilt following the disaster.
Headquartered in the city of Iwaki in Fukushima Prefecture, Tungaloy was spun off from Japanese electronics group Toshiba, then in 2008 became part of one of the world's leading toolmaking companies, IMC Group, which was part owned by Buffett. In the years since, its highly automated factory has turned into a source of steady revenue, and sales have doubled. The company has benefited from Buffett's management style, which seeks long-term sustainable growth from investments.
