Canon newly establishes Canon Marketing Vietnam, aims to create Vietnam-based import and distribution system for Canon products
TOKYO, Japan, SINGAPORE and HO CHI MINH CITY, Vietnam, July 23, 2012—Canon Inc. and Canon Singapore Pte. Ltd. announced today the establishment of Canon Marketing Vietnam Company Limited, a new Canon marketing subsidiary in Ho Chi Minh City, Vietnam. The new company was established with the aim of creating an import, distribution, sales and service system for Canon products in Vietnam.
In recent years, Vietnam, which joined the World Trade Organization in January 2007, has made great strides in transitioning to a market economy and integrating into the international economic system. In particular, through the government's economic open-door policy and domestic-demand expansion policies, Vietnam has achieved economic growth approaching 6% over the past few years with further expansion expected in the future, which has created a pressing need for Canon to establish a strategic marketing system in the country.
In response to these circumstances, Canon has newly established Canon Marketing Vietnam Company Limited in Ho Chi Minh City, Vietnam.
In addition to existing business segments, through the new marketing company, Canon also aims to further expand its market share within such industries as production printing, and motion-picture and broadcasting production.
Overview of New Company
1. Name: Canon Marketing Vietnam Company Limited 2. Location: Ho Chi Minh City, Vietnam 3. Representative: Noriji Yoshida (to be appointed President & Legal Representative) 4. Business activities: Import, distribution, sales and service of Canon products in Vietnam 5. No. of employees: Approximately. 40 (as of July 2012) 6. Capital: VND 63 billion (JPY 240 million, calculated at an exchange rate of VND 1=JPY 0.00385) 7. Equity structure: Canon Singapore Pte. Ltd.: 100% 8. Establishment: June 2012 11. Start of operations: August 2012 (tentative) Note: Canon currently operates the following manufacturing subsidiaries in Vietnam: Canon Vietnam Co., Ltd., established in April 2001, which manufactures such products as inkjet printers and laser printers
(sorry - I don't know why "9" and "10" were omitted)