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Nisshin Establishes Subsidiary in Singapore
01/12/2011 - Nisshin Steel announced the formation of a 100%-owned local subsidiary in Singapore with the aim of capturing markets in ASEAN and neighboring countries, where growth is expected.
Nisshin Steel announced the formation of its Singapore Representative office into a 100%-owned local subsidiary with the aim of capturing markets in ASEAN and neighboring countries, where growth is expected.
The company said its intention for the organizational change is to strengthen its market development capabilities and sales functions in these countries. In the future, this local subsidiary will be used as a regional base to further develop demand and promote sales, as well as to actively expand the company’s operations.
Market research and other functions that were previously carried out by the former Singapore office have been moved to the new local subsidiary. Its main business will include market development and sales in ASEAN and its neighboring countries as well as local office operations such as sales and technical support for the company’s export business.
The new subsidiary was formed as a specific measure under Nisshin Steel’s 22nd Medium-term Consolidated Management plan. It will be managed by Koso Hashimoto, who will serve as Managing Director, and there will be five employees.
