Hon Hai Precision Industry
Hon Hai Precision Industry is a Taiwan-based company involved in the manufacture and sale of computer, communication and consumer electronics products. The company has manufacturing sites in Asia, Europe, Mexico and South America but its largest production facilities are based in Mainland China. Established in 1974, Hon Hai is now one of the largest electronics manufacturing service providers in the world, with 1.3 million employees and clients such as Apple, HP, Nintendo and Sony. Hon Hai has a free float of about 75%, with its founder and combined chair/CEO owning about 13%.
Hon Hai has been involved in several controversies relating primarily to the treatment of its employees in China with regard to working conditions and wages, which was the initial focus of our engagement. Over time, however, our engagement has progressed from the company’s approach to labour practices to human capital management more broadly, as the competitive business environment the company is in calls for a change in its business model.