Koyo Precision Industry, based on the production of bearings known as the "rice of industry", has developed into a bearing production enterprise in Japan and even beyond after decades of development. In addition to producing bearings, Koyo Precision also successfully developed the first electric power steering (EPS) in 1988 and achieved mass production.

Koyo Precision was founded in 1921 by Yoshichiro Ikeda and reorganized into "Koyo Precision Co., Ltd." in 1935. Based on the production of bearings known as the "rice of industry", it has developed into a bearing production enterprise after decades of development. In the 1960s, Koyo Precision began research and production of automotive steering gear and other components. In 1988, they successfully developed the first electric power steering gear (EPS) and achieved mass production, which was installed on Suzuki's microcar Cervo, ushering in a new era of using electric power for automotive steering.

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