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| September 10, 2008 |
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| Nagase Expands Electronics Parts Business in Thailand Responds to Shift Toward High-Value Added Products With a View Toward Establishing Processing Plant | |
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Nagase (Thailand) Co., Ltd. (President, Kiyoshi Sato), the Thailand subsidiary of Nagase & Co., Ltd. plans, on the 20th anniversary of its founding in 2009, to reorganize its business framework along with the formulation of the Medium-term Management for the next three years from 2009. Nagase (Thailand) intends to expand its business domain by newly establishing an Electronics Department, in addition to its traditional Plastics and Chemicals Departments, to reinforce sales of electronic components, which had always been one of its strengths and to explore the possibility of establishing a new processing plant. Additionally, in order to strengthen its customer-oriented businesses, Nagase (Thailand) will also set up market-based departments, intended for such markets as the automotive, packaging and the information communications markets including LCD televisions and cell phones. Furthermore, it will look toward launching the cosmetics and energy businesses as new undertakings, as well as engage in active investments into such countries as India and Vietnam, where further expansion of businesses is expected to evolve from its base in Thailand. Nagase (Thailand) was established in 1989. With a capital of 300 million bahts, it is currently 100%-owned by Nagase & Co., Ltd. As part of the Nagase Group, it surpassed Nagase Singapore (Pte) Ltd. in 2006, in terms of sales and among the Group's overseas operating bases, it has grown to become second only to Nagase (Hong Kong) Ltd. In FY 2008, Nagase (Thailand) expects to record sales of 11.5 billion bahts (approx. 37.0 billion yen). However, as plastics and chemicals have accounted for roughly 70% and 30% of sales, respectively, a New Business Promotion Office had been established in the previous year to reinforce Nagase (Thailand)'s new businesses including electronic components, which had been one of its original strengths. The New Business Promotion Office had until now been engaged in the expansion of a market-base business that integrated chemicals, plastics, electronic components and other products. However, starting from 2009, it will launch an Electronics Department and establish a trilateral framework based on the three pillars of plastics, chemicals and electronics. Nagase (Thailand) expects the manufacture of electronics components in Thailand to shift toward small-volume production of quality products with high- value added, as is the case in Japan, and consequently hopes to prepare a framework that would enable support for its customers. Looking ahead to reinforcing its logistics system and establishing processing centers similar to those Nagase has established in the Huanan region of China, Nagase (Thailand) intends to support its customers with products that meet their needs both from the logistics and processing aspects. Moreover, Nagase (Thailand) will not only strengthen its product-by-product organizations, but also its market-based organizations. In addition to the department dedicated to the automotive field, it intends to establish other departments targeting the packaging field, which includes packaging materials, the information communication equipment field covering LCD televisions and cell phones and the energy field, which includes bio-mass related products and plastic waste materials, alongside product-by-product departments. The New Business Promotion Office intends to pursue businesses that defy the boundaries of traditional business. Nagase (Thailand) also plans to strengthen its overseas expansion. In particular, it is intent on providing support for the multitude of Japanese companies hoping to enter the Indian and Vietnamese markets through Thailand. Nagase has already acquired local subsidiary status for its Mumbai Representative Office two years ago and has been expanding its sales of chemicals and pharmaceuticals, while it has opened a Representative Office in Delhi targeting the automotive field. Furthermore, a local subsidiary will be established this October in Vietnam alongside the Representative Office, which has already been in operations. Nagase also intends to follow a policy of active investment into India and Vietnam. (From The Chemical Daily) |
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