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 December 27, 2002 |
Corporate name: Kobayashi Pharmaceutical Co., Ltd.
Chief Executive: Kazumasa KOBAYASHI, President & CEO
(Code No. 4967 The First Section of TSE/OSE) |
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Joint venture company in China becomes KOBAYASHI 100% owned affiliate |
Kobayashi Pharmaceutical Co., Ltd.(headquartered in Osaka, President and CEO: Kazumasa KOBAYASHI)is pleased to announce that as of December 24, 2002 SHANGHAI KOBAYASHI DAILY CHEMICALS CO., LTD.(headquartered in Shanghai, the People's Republic of China)becomes its 100% owned affiliate.
To enter the Chinese market as a part of its corporate global
expansion strategy, Kobayashi Pharmaceutical established a joint
venture company: SHANGHAI KOBAYASHI FRIENDSHIP DAILY CHEMICALS
CO., LTD.  (75%
Kobayashi's share)in September 1998 with SHANGHAI FRIENDSHIP
DISTRIBUTION CO.,LTD.  (20%
shares), and HONGKONG BOFORD DEVELOPMENT LIMITED  (5%
shares). This joint venture company has been manufacturing toiletry
products such as XIANG HUA LEI(Sawaday in Japan)and XIANG JU
YUAN(Oheyano Shoshugen in Japan)and marketing them mainly in
the Shanghai, Guangzhou and Beijing areas.
As the company's business took hold in China, to further expand there and strengthen its business operation, Kobayashi Pharmaceutical decided to acquire the shares of Shanghai Friendship(Group)Co., Ltd. on June 18, 2002, and changed the company name to SHANGHAI KOBAYASHI DAILY CHEMICALS CO., LTD. Kobayashi Pharmaceutical has come to acquire the last remaining shares which belonged to Hongkong Boford Development Limited and establish its 100% owned affiliate in China.
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Outline of SHANGHAI KOBAYASHI DAILY CHEMICALS CO., LTD.
| (1) |
Date of establishment: September 23, 1998 |
| (2) |
General Manager: Noboru Hayakawa |
| (3) |
Capital: US $4,813,000 |
| (4) |
Number of employees: 56 |
| (5) |
Sales Volume: RMB 21,419,000 (as of December,2001)
| Marketed products: |
Toilet deodorizer: XIANG HUA LEI (Sawaday in Japan)
Room deodorizer: XIANG JU YUAN (Oheyano Shoshugen in Japan) |
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