The Japan Murata Manufacturing Co launched a new $150 million project in Wuxi, Jiangsu province, on March 9. The investment is expected to bring in?1 billion yuan in sales.

Murata is a world-famous high-end electronic component supplier and set up its Wuxi subsidiary branch in 1995. The branch held its 20th anniversary on March 10, which was attended by local governmental officials and Murata president, Tsuneo Murata.

Wuxi subsidiary contributed a lot to the Murata group in 2014 thanks to local favorable governmental and social policies,?and?Murata plans to make it the biggest foreign manufacturing base, according to Tsuneo Murata.

Wuxi Murata, with a total investment of $562 million, reached sales of 3.5 billion yuan ($559 million) in 2014, an increase of 40 percent on 2013.