Apr 22nd, 2019

Establishment of an Indonesia-based Subsidiary

KOKUYO Co., Ltd. (Headquarters: Osaka City; President and CEO: Hidekuni Kuroda) has established a local subsidiary in Indonesia with the goal of sustainable growth in the furniture business in Asia, with operations commencing in April 2019.

KOKUYO had been conducting sales through a representative office in Indonesia since 2012, but is now shifting to a new system of using a local subsidiary to sell directly due to recent increases in local firms’ purchasing power and appetite for investing in offices. With this change, KOKUYO aims to add the growing demand from local firms in Indonesia to its revenue base of Japanese customers and achieve sustainable growth in Asia.

■ Indonesia-based Subsidiary Outline

(2) Established : March 19, 2019
(3) Address : The Plaza Office Tower, 28th floor, J1.M.H, Thamrin Kav, 28-30,
Jakarta, 10350. Indonesia
(4) Capital : 10 billion rupiah (approx. 80 million yen)
(5) Capital Contribution
      Amount :
KOKUYO Co., Ltd. 67% (*1)
Wadah Atelier 33%
(6) Business Description : Domestic furniture sales in Indonesia

*1. Foreign capital ownership is restricted to 67% for distribution businesses established in Indonesia.

■ Reference:About Wadah Atelier

Company Name : PT Wadah Atelier Indonesia
Established : May 2014
Business Description : Sales of imported goods (furniture, lighting fixtures)
Director : President Williant Allim
Capital : 200 million yen
Sales : 200 million yen