We established a subsidiary in Seoul
We are pleased to inform you that New Cosmos Electric has established a subsidiary in Seoul, Korea on December 1, 2016.
We opened the first office in Seoul in 2012 and since then we have worked with our distributors to expand our sales and services in Korean market. Korea has achieved relatively stable economic growth in East Asia and there are many worlds’ leading companies which have large semiconductor plants especially in the market of internet and electronics.
New Cosmos Electric group has set a goal to increase the proportion of sales from overseas business to 25% in the “2016-2018 Medium-term Business Plan”. Now, it is an important task to increase our presence in Korea and we decided to reorganize our Korea office and established a new subsidiary company, New Cosmos Electric Korea Co., Ltd.
New Cosmos Electric Korea Co., Ltd. operates import and sale of industrial and commercial-use gas alarms and detectors. We will focus on strengthening its cost competitiveness and speed-up customer service and aim to achieve net sales of 260 million yen by 2018.
|Company Name||NEW COSMOS ELECTRIC KOREA CO., LTD.|
|Founded||Dec 1, 2016|
|Capital||Japanese Yen 150,000,000|
|Investing Company||NEW COSMOS ELECTRIC CO., LTD. 100%|
|Director||Yoshitada Nishi (Mr.)|
|Business Area||Import, sale and after-the-sales services of industrial and commercial-use gas alarms and detectors|
|Number of Employees||5|
*Mr. Nishi is the general manager of Sales Department 2, Overseas Sales Division at NEW COSMOS ELECTRIC CO., LTD. He resides in Korea as an assigned employee from a parent company.
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