Hioki Establishes a Sales Subsidiary in Europe
July 13, 2017 - Nagano, Japan
Meeting on June 7, 2017, Hioki’s Board of Directors approved a resolution to establish the following new subsidiary in Europe:
Company Name: Hioki Europe GmbH
Location: Frankfurt, Germany
Managing Director: Hisashi Shimizu
Businesses: Sale of Hioki products, customer support, marketing, and after-sales service in Europe, the CIS, the Middle East, and Africa
Capital: EUR 870,000 (about JPY 108 million)
Date of establishment: July 2017 (tentative)
Start of operations: August 2017 (tentative)
(The yen equivalent of the new company’s capital was calculated at an exchange rate of EUR 1 = JPY 125.)
Hioki has identified the development of a global sales network as a top priority. To date, this approach has yielded results with the establishment of subsidiaries in the U.S., China, Singapore, South Korea, and India. As an extension of this effort, we will establish a subsidiary in Europe in order to pioneer new markets. This subsidiary will enable us to operate in closer proximity to major regional companies in sectors such as the automotive and aerospace industries so that we can offer products, service, and support in a more timely manner. In addition to providing proposals that accord with customer needs in markets that demand a high level of technological skill, we will work to bring the Hioki brand to these markets and to expand our customer base.
“Globalization is one of HIOKI’s guiding policies, and we are on track with strengthening our presence in the international market. By enhancing the sales network, we will be able to increase the number of opportunities to communicate the value of Hioki products and services to potential customers and enable more users to experience the advanced technologies and quality offered by HIOKI,” comments Hisashi Shimizu, Managing Director of Hioki Europe GmbH.
The establishment of Hioki Europe GmbH will have only a minor impact on the Hioki Group’s consolidated business performance during the fiscal year ending December 31, 2017.
Established in 1935, HIOKI E.E. CORPORATION (TSE: 6866) has grown to become a world leader in providing consistent delivery of test and measuring instruments through advanced design, manufacturing, and sales and services. By offering over 200 main products characterized by safety and quality while meeting an expansive range of applications, we aim to contribute to the efficiency and value of our customers' work in research and development, production and electrical maintenance. HIOKI products and services are available around the world through our extensive network of subsidiaries and distributors. Information about HIOKI is available at www.hioki.com.