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TOKYO, August 31, 2006 -- Casio Computer Co. Ltd, Japan, today announced the establishment of Casio Espana SL, a wholly owned subsidiary, which begins operation on September 1st, 2006. Casio Espana SL is headquartered in Barcelona and is responsible for sales and marketing of digital cameras and timepieces in Spain. Yasuhiro Ito has been appointed as a Managing Director of the new subsidiary. He is supported by Koichi Danjo appointed as a Deputy Managing Director.
The headquarters of Casio’s European operations, Casio Europe GmbH, will retain responsibility for the other product sectors; Office and School equipment, Electronic Music Instruments, Professional Visual Products (Data Projectors), Mobile Industrial Solutions (Mobile Data Collection) and Electronic Cash Registers. Casio Europe will continue to work in cooperation with the existing Spanish distributors.
Casio Espana SL, with a total of 27 employees and equity capital of 1.5 million Euros will benefit from the European headquarters in northern Germany. "Casio Espana SL can count on the existing and well-functioning infrastructure of Casio Europe GmbH", said Hiroshi Nakamura, Managing Director of the European Headquarters, which is responsible for the uniform European brand image as well as the pan-European sales and marketing strategy in the Group's different trading areas. “We have taken a major step with the foundation of a Spanish subsidiary. The resulting synergies will be used to achieve greater efficiency within the European organisation, and to significantly increase our market share in the corresponding product areas in the Spanish market”, Nakamura added.
Yasuhiro Ito, Managing Director of the newly founded Casio Espana SL, is already expecting a clear substantial increase in turnover for fiscal year ending March 2007 in the product ranges for which he is responsible.
"With its over 42 million inhabitants and a good functioning economic system, Spain represents considerable growth potential for Casio", said Yasuhiro Ito, who worked for Casio Europe GmbH as a manager and who will now work for Casio Espana SL. Koichi Danjo, who already worked as a representative of Casio in Spain in the past added: “I am looking forward to bringing my experience into the Spanish market. They will be very useful in achieving our ambitious targets in an environment characterised by fierce competition".
About CASIO COMPUTER CO., LTD.
Casio Computer Co., Ltd. is one of the world’s leading manufacturers of consumer electronics products and business equipment solutions. Since its establishment in 1957, Casio has strived to realize its corporate creed of “creativity and contribution” through the introduction of innovative and imaginative products. Today, Casio’s offerings include timepieces, digital cameras, cellular phones, electronic dictionaries, calculators, musical instruments, system equipment, and electronic components such as LCDs. The Casio Group employs more than 10,000 people worldwide, shipping over 100 million products per year, with net sales of 580 billion yen (approx US$4,959 million) in the fiscal year ended March 2006.
News and product information from CASIO is available at http://world.casio.com/
Casio Espana SL
“Torre Diagonal Litoral B-2”
Joseph Plá número 2, B-2; Planta 12
08019 Barcelona
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