Japan health food firm sets up sales unit in Singapore
SINGAPORE, Kyodo - Japanese health food company Fine Japan Co. has set up a Singapore-based unit to function as a regional distribution base to cultivate Southeast Asian markets.
The firm's Hong Kong arm, Fine Group Ltd., together with its sales agent in Malaysia, Cason International Sdn. Bhd., established a joint venture, Cason Fine Japan Pte. Ltd. with a capitalization of 100,000 Singapore dollars ($73,500) in May.
Fine Group will take a 60 percent stake and Cason International the remainder, according to Fine Japan's statement.
Fine Japan has sold mainly health foods and cosmetics in Asia using Hong Kong's Fine Group as its foothold. By establishing a new distribution base in Singapore, the maker aims to expand its sales in Southeast Asia where the company expects stable demand for its products, a spokeswoman told NNA on Tuesday.
“We currently sell health and beauty foods, including supplements, mainly through bricks-and-mortar shops such as drugstore chains. Having established a company in Singapore, we will also put the effort in sales through e-commerce sites,” the spokeswoman said.
Exact details of the e-commerce distribution, either through its site or other e-commerce sites, are yet to be determined, she added.
Fine Japan also established a branch in Hangzhou, known as a digital economy center in China, to boost sales in the country. In China, the company has distributed Japanese health foods through e-commerce site Tmall Global run by e-commerce giant Alibaba Group Holding Ltd. as well as other e-commerce sites, according to the statement.
Fine Japan has five factories in Japan and overseas, manufacturing products including health and beauty foods. The company has overseas branches in the United States, Taiwan and Vietnam in addition to Hong Kong, as well as sales agents in the Philippines and Mongolia, in addition to Malaysia. (NNA/Kyodo)