Hioki Singapore Establishes New Subsidiary in Indonesia
August 15, 2018 - Nagano, Japan
Meeting on August 7, 2018, Hioki’s Board of Directors approved the establishment of a new company by Hioki Singapore Pte. Ltd., a consolidated subsidiary of Hioki E.E. Corporation.
Company Name: Pt. Hioki Electric Instrument
Headquarters: Jakarta, Indonesia
Commissioner: Takahiro Okazawa (Director and Senior Managing Executive Officer, Hioki E.E. Corporation)
Representative Director: Toshihiko Tsuchiya (President, Hioki Singapore Pte. Ltd.)
Businesses: Sales, customer support, marketing, and after-sales service for Hioki products in Indonesia
Capital: IDR 2,525 million (about JPY 20 million)
(Hioki Singapore Pte. Ltd.: 99%; Hioki E.E. Corporation, 1%)
Start of Operations: September 2018 (tentative)
Relationships with Hioki E.E. Corporation:
Capital relationship: Pt. Hioki Electric Instrument is a subsidiary of Hioki Singapore Pte. Ltd., a wholly owned subsidiary of Hioki E.E. Corporation which owns a 99% stake in the new company.
Personnel relationship: Takahiro Okazawa, a director of Hioki E.E. Corporation, will serve as the new company’s commissioner.
Transaction relationship: The new company plans to purchase products from Hioki E.E. Corporation.
(The yen equivalent of the new company’s capital was calculated at an exchange rate of IDR 1 = JPY 0.008.)
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.