Following the opening of its Taiwan subsidiary, with a view to further overseas expansion Primo Japan Inc. (Head office: Chuo-ku, Tokyo; Representative Director: Naoki Sawano), operator of Japan’s largest chain of bridal ring specialty shops, announces the opening of a new wholly-owned subsidiary. Details are as follows:
■Objective of the New Subsidiary
Domestically the macroeconomic climate surrounding Primo Japan Inc. remains challenging with scant cause for optimism. Faced with this environment, we have conducted market research across the Asian region to determine the location of our next overseas operation to follow the Taiwan store opening, to assist in achieving our target of selling engagement and wedding rings to the largest number of couples. Sales at a trade show Primo first took part in in 2010 pointed to Hong Kong as the optimum location for the next stage in the company's overseas expansion, which has resulted in the opening of this latest subsidiary.
■New Subsidiary in Brief
|
Business name: |
Primo Diamond Hong Kong Limited |
|
Date Founded: |
September 19, 2011 |
| Head Office Location: |
Hong Kong |
| Representatives: |
Naoki Sawano, Nobuhisa Tanaka |
| Capital: |
HKD 5,000,000 |
| Ownership: |
Wholly owned by Primo Japan Inc. |
| Description of Business: |
Sales of bridal jewelry |
| Fiscal Year End: |
June 30 |
■Going Forward
Information gathering will be ramped up and potential locations selected with a view to opening more new operations.