Japan's Kyocera floats Indian subsidiary
29 July 2009
Diversified consumer and industrial electronics products giant Kyocera Corporation (founded as Kyoto Ceramic Co., Ltd, in 1959 ) today said that it had established a new group sales company positioned to cohesively strengthen components sales in the continually expanding Indian market.
Through its 189 companies the Kyocera Group shave a presence in fine ceramic components, semiconductor components, applied ceramic products, electronic devices, solar panels telecommunications equipment, document imaging equipment.
The new company, Kyocera Asia Pacific India Private Limited (KAPI), which will become operational from Saturday 1 August, is a wholly-owned subsidiary of Kyocera Asia Pacific Private Limited (KAP) a Kyocera subsidiary handling group sales in the Asia-Pacific region.
Recognising the importance of the rapidly growing Indian market, the establishment of KAPI will allow the Kyocera Group to better respond to customer needs and product demand.
"In recent years, even amongst the BRIC countries, India has been accomplishing strikingly high economic growth with a GDP growth rate second only to China," Kyocera said in a statement. "With development of the IT industry, and following the rapid expansion of the automotive and digital consumer electronics industries, many Japanese and foreign-based manufacturers have been setting up and relocating sales offices and manufacturing sites in the country.
Till now, Kyocera sales to India had mainly been conducted from the the group's Asia Pacific headquarters in Singapore.
In 2005, it opened a representative office in Bangalore to help support the cutting tool sales of local distributors, and since then has also started marketing Kyocera's line of products including electronic, semiconductor, fine ceramic and thin film components as well as solar panels.
As one of the markets in Asia on which Kyocera has placed strategic importance, Kyocera hopes that the Indian subsidary will be able to aggressively develop its sales activities in India. The new company will begin with sales of cutting tools, and subsequently progress with further sales of other Kyocera components.