Japanese photography and imaging company Fujifilm Corp has established a local subsidiary, Fujifilm Myanmar Ltd, in Myanmar where the company expects growth.
Business operations will commence on December 2, Fujifilm said.
In Myanmar, Fujifilm has focused on the sales of imaging products, such as photographic papers, through distributors since the 1970s.
Fujifilm said the establishment of a local subsidiary will enhance sales and technical support to these distributors, help grasp market needs of the local area and expand sales channels.
It will increase sales of medical products such as diagnostic imaging systems and X-ray films, as well as graphic arts products such as offset printing plates, products for which greater demand is focused, the company said.
Fujifilm Myanmar is Fujifilm’s 7th local subsidiary in the ASEAN region besides the ones in Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam.
The paid-in capital for the subsidiary is ¥20 million ($195,160), and Ryutaro Iwaki will be the representative for the new office.
While aiming for further enhancement of its business foundation in Southeast Asia where the economy is rapidly growing, Fujifilm said it will promote the delivery of solutions that meet diversifying market needs as it contributes to the development of industries in each country.
Also known as the “last frontier in Asia”, Myanmar has approximately twice the land area of Japan and has a population of approximately 60 million people. Since the establishment of a new government in 2011, regulations have been eased, and economic activities have been progressing. Due to increased labour population and infrastructure development in the future, Myanmar is gathering attention as a market where continuous economic growth is projected.