Japanese FA system provider IDEC launches sales unit in India
NEW DELHI, NNA - Japanese control device and factory automation system provider IDEC Corp. will make a stronger push into India with the launch of its sales unit amid the prospects for stable growth of the automotive market.
IDEC established IDEC Controls India Pvt. Ltd. in Bangalore on Jan. 22, with IDEC holding a 25 percent stake and its Singaporean subsidiary IDEC Izumi Asia Pte. Ltd. owning 75 percent, IDEC said in a statement on Monday.
With a revenue target of 500 million yen ($4.57 million) in 2025, the Indian unit will start sales of the Thai-made products by the end of February to Japanese and European automakers in the world's fifth largest automobile market, an IDEC spokeswoman told NNA on Wednesday.
“We’ll focus on sales to the large automotive market,” the spokeswoman added.
The move is a shift from sales through IDEC’s sales agents in Singapore. IDEC will also consider the local development and manufacturing of its products in the future.
IDEC will increasingly offer a combination of control devices and safety components as system solutions to those customers.
The Tokyo-listed firm will strengthen its business in the Asia Pacific region. Revenue from the region was 12.5 billion yen for the fiscal year to March 2019, representing about 20 percent of the total of 62.8 billion yen.