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Article: DAIWA SEIKO TO DEVELOP FISHING GEAR SALES IN TAIWAN, HONG KONG.
- Article from:
- AsiaPulse News
- Article date:
- August 3, 2006
CopyrightCOPYRIGHT 2006 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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TOKYO, Aug 3 Asia Pulse - To expand sales of fishing gear in East Asia, Daiwa Seiko Inc. (TSE:7990) on Aug. 8 will raise its stake to 70 per cent in a sales firm it co-founded with a local company in Taiwan.
Daiwa Seiko plans to convert the business into a subsidiary, and it will also add marketing functions to a local firm in Hong Kong this month.
The company founded the joint sales firm in Taiwan in 2002, claiming a 40 per cent stake. Through a private placement that will raise the business' capital to 40 million Taiwanese dollars, Daiwa Seiko will raise its stake to 70 per cent.
The Japanese firm sells its fishing gear in Taiwan through a ...