Japanese wireless gear maker Icom to open Asia sales hub in Vietnam
HANOI, NNA – Japanese wireless gear manufacturer Icom Inc. is set to open a sales and sourcing affiliate in Vietnam next month as a regional hub to meet growing demand in Asia.
Icom Asia Co., founded in Hanoi on April 27 as a wholly owned subsidiary of the Osaka-based firm., is scheduled to begin operations on July 1 subject to any delays caused by the global coronavirus outbreak, the company said in a statement.
Icom Asia, capitalized at $600,000, will wholesale ground-based wireless devices for business use, maritime and aeronautical radio communication devices, amateur radio equipment and IP network systems. The subsidiary will also source materials for some of that gear.
Icom Asia will sell these products through its agencies to businesses such as transportation companies and event organizers around Asia. Mining and resource development companies in Indonesia are expected to buy as well, Keiichi Uehata, an Icom spokesman in Osaka, said in a telephone interview.
The firm will open its hub in Vietnam because of the country’s growth potential and position as a geographic center in Southeast Asia, Uehata said. He declined to disclose expected sales profit or estimate profits.
Icom Inc., founded in 1954 as Inoue Electric Seisakusho, produces wireless equipment and other products only at two production units in the western Japanese prefecture of Wakayama. Their goods sell in Japan and overseas.
Over the year ending in March, Icom posted 30.5 billion yen ($285 million) in sales and a 2.3 billion yen operating profit on a consolidated basis. The parent company also has overseas units in the United States, Canada, Brazil, Germany, Spain, Australia and China.