June 4, 2012
Asahi Kasei Corp.
Asahi Kasei established Asahi Kasei (China) Co., Ltd. as a foreign-invested holding company in Shanghai, China, with operation launched on May 25, 2012. Under Chinese corporate regulations, foreign-invested holding companies function to support the management and governance of their subsidiaries in the country, and can make investments in group companies in China. In addition, they may perform a wider range of operations than ordinary foreign-owned enterprises, including R&D and sales of products of group companies in China. As such, Asahi Kasei (China) Co., Ltd. will play an important role in accelerating the expansion of Asahi Kasei’s business in China as a key growth market.
In 2007, Asahi Kasei established its subsidiary Asahi Kasei Business Management (Shanghai) Co., Ltd. as a management company to provide services for other group companies in China. This configuration provided essential support for the development of business infrastructure and marketing functions of newly established operations in China. As the Chinese market continues to rise in importance for the Asahi Kasei Group, with further business expansion planned, the need arose for an enhanced support configuration. Asahi Kasei therefore decided to convert this subsidiary in Shanghai into a holding company, renaming it Asahi Kasei (China) Co., Ltd. upon receipt of administrative approval of this conversion.
In addition to providing ongoing operational support for existing group companies in China, Asahi Kasei (China) will engage in investment activities such as the establishment of new Chinese subsidiaries, and will extend its operations to include sales and R&D functions. As such, it will serve as the central base for the swift and efficient expansion of business in China as a strategic growth market.
Corporate profile of Asahi Kasei (China) Co., Ltd.
| Location: | Shanghai International Commerce Centre, Shanghai, China | |
|---|---|---|
| Chairman and President: | Haruhiko Kumagai (formerly Chairman and President of Asahi Kasei Business Management (Shanghai) Co., Ltd.) | |
| Paid-in capital: | US$33 million | |
| Shareholder: | Asahi Kasei Corp. (100%) | |
| Scope of operation: | Supporting Asahi Kasei Group subsidiaries in China through investments, operational assistance, sales, and R&D |
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