Japanese housing equipment maker Hashimoto Sogyo opens Thai sales unit
BANGKOK, NNA – Japanese housing equipment wholesaler Hashimoto Sogyo Holdings Ltd. has launched a sales subsidiary in Thailand to establish presence in fast-growing Southeast Asia.
The firm set up Hashimoto Sogyo (Thailand) Co. in Bangkok on June 19 and began operations on July 15, the company said in a statement last Wednesday. The subsidiary is capitalized at 2 million baht ($63,000).
Southeast Asian economies “are growing against the backdrop of brisk growth in domestic demand as well as proactive investments from overseas,” the statement says.
A 49 percent share went to Hashimoto Sogyo and 51 percent to Thailand-based FDI Accounting and Advisory Co. It is staffed by a Japanese employee and three Thai nationals.
Hashimoto Sogyo (Thailand), the group’s first overseas subsidiary, wholesales modular bathrooms for condominiums to joint ventures formed by Japanese and local companies.
The Thai subsidiary eventually will cut delivery times for the prefabbed housing parts, which it develops in Japan. The subsidiary will initially import goods from Japan but plans to switch to local materials, in turn reducing expenses.
Parent company Hashimoto Sogyo Holdings listed six years ago on the Tokyo Stock Exchange. The group wholesales piping materials, bathroom equipment and water heaters among other housing equipment.