Nikon Imaging (China) Sales Co., Ltd. Established to Enhance Sales and
Service in Fast-growing Chinese Market
Nikon Corporation (President: Teruo Shimamura) is
pleased to announce the establishment of Nikon Imaging (China) Sales Co., Ltd.,
a wholly owned sales and service subsidiary. This new company has been launched
to fully develop our imaging business in China, including digital cameras, and
commenced operations in June 2005.
In response to China's remarkable economic growth
and long-term market potential, companies from throughout the world are making
aggressive inroads. To date, Nikon has focused its business development in China
on the manufacture of products, at bases such as Nikon Imaging (China) Co.,
Ltd., but conducted Chinese marketing and sales activities through a subsidiary,
Nikon Hong Kong Ltd. Nikon has also established authorized repair shops in China
to provide after-sales service and technical
assistance.
With the goal of
strengthening sales and service to expand business in this rapidly growing
market, Nikon Corporation decided to establish a new wholly owned import and
wholesale company.
The new enterprise
will endeavor to increase sales by directly importing and wholesaling imaging
products such as digital cameras, and to strengthen brand presence through
effective marketing and advertising activities. It will also enhance the level
of after-sales and technical services in the market by placing some of the
operation under direct management.
Nikon
will further enhance its presence in China by providing high-quality products
and services that meet users' needs, and will do so through the establishment of
a comprehensive system capable of handling marketing, sales and service for the
growing Chinese market.
Company
Outline
▪ Name: Nikon Imaging (China) Sales Co.,
Ltd.
▪ Address: Room No.01-04, 50th Floor, Raffles
City, Xi Zang Middle Road 268, Shanghai 200001, China
▪ Capital US$10 million (Approx. ¥1.1
billion) [Ratio of Investment: 100% from Nikon Corporation]
▪ Representative directors President: Shiro
Itakura (Concurrently President of Nikon Hong Kong Ltd.)
▪ Managing Director: Nobuyoshi
Gokyu
▪ Employees Approx. 50 at outset; approx. 120
after one year
▪ Main businesses Purchase, import, wholesale
and after-sales service of products related to imaging business in
China
▪ Start of operations June 20,
2005
▪ Sales target Approx. ¥10 billion for
the first fiscal year; approx. ¥33 billion after three years
In China, following the introduction of a new
foreign capital regulation "Measures for the Administration on Foreign
Investment in Commercial Sector" since December 2004, it has been possible to
establish a wholly owned import and wholesale company with 100% foreign capital
investment. Subsequently, Nikon received approval from the Chinese Ministry of
Commerce, and established a wholly owned sales company with rights of import and
export, as well as rights of purchase and sales in China.
Posted: Wed - June 22, 2005 at 10:49 AM