2004 The former Hitachi Cable News Release
Information (including product prices, product specifications, details of services, launch dates, inquiry information, and URLs) contained in this news release is current as of the date of the press release but is subject to change without notice. Please note that details may differ from those effective on the search date.
Notification Concerning the Establishment of a Sales Company in Thailand
The Hitachi Cable Group has established a sales company in Thailand.
The Southeast Asian market is one of the most promising markets in the world. It has been growing steadily following its recovery from the currency crisis, in part thanks to the progressive reductions in intraregional tariffs following conclusion of the AFTA (ASEAN Free Trade Area) agreement in 1992 ? an accord designed to promote free trade within the ASEAN (Association of Southeast Asian Nations) region. Thailand has the most stable political and economic infrastructure among these Southeast Asian nations; as a result, Japanese companies, including automakers and consumer-electronics manufactures, are shifting manufacturing bases to this country.
Previously, sales and marketing activities in Thailand were conducted by the individual manufacturing companies of the Hitachi Cable Group operating within the country, with no organizational consolidation. In response to the pressing need to integrate the sales and marketing efforts of these manufacturing companies, the Hitachi Cable Group has decided to launch a new sales company in Thailand, to expand operations in the country as well as to reinforce its marketing efforts throughout the Southeast Asian market.
| 1. Company name: | HCAS Thai Trading Co., Ltd. |
|---|---|
| 2. Location: | Bangkok, Thailand |
| 3. Capital: | 4 million bahts (12 million yen, 1bahts=3yen) |
| 4. Investment ratio: | Wangnoi Marketing Ltd. (Note 1): 51%, Hitachi Cable Asia Ltd.(Note 2): 49% |
| 5. President: | Hiroshi Shizukawa (dispatched from Hitachi Cable, Ltd.) |
| 6. Month and year of establishment: | 2 2004 |
| 7. Line of business: | Sales of Hitachi Cable Group products to Thailand and other Southeast Asian markets |
| 8. Sales: | 1 billion yen (target for fiscal year 2004); 4.5 billion yen (target for fiscal 2008) |
| Note1 | Wangnoi Marketing Ltd. is a local Thailand marketing company. |
| Note2 | Hitachi Cable Asia Ltd. is a consolidated subsidiary of Hitachi Cable, Ltd. in charge of sales in the Asian region (Head Office: Hong Kong). |