Asahi Kasei establishes holding company in China

Asahi Kasei establishes holding company in China

9:46 AM, 5th June 2012
Asahi Kasei establishes holding company in China

TOKYO, JAPAN/SHANGHAI, CHINA: Asahi Kasei established Asahi Kasei China Co Ltd as a foreign-invested holding company in Shanghai, China, with operation launched on 25 May 2012. Under Chinese corporate regulations, foreign-invested holding companies function to support the management and governance of their subsidiaries in the country, and can make investments in group companies in China.

They may perform a wider range of operations than ordinary foreign-owned enterprises, including R&D and sales of products of group companies in China. As such, Asahi Kasei China Co Ltd will play an important role in accelerating the expansion of Asahi Kasei’s business in China as a key growth market. As the Chinese market continues to rise in importance for the Asahi Kasei Group, with further business expansion planned, the need arose for an enhanced support configuration.

Asahi Kasei therefore decided to convert this subsidiary in Shanghai into a holding company, renaming it Asahi Kasei China Co Ltd upon receipt of administrative approval of this conversion. In addition to providing ongoing operational support for existing group companies in China, Asahi Kasei China will engage in investment activities such as the establishment of new Chinese subsidiaries, and will extend its operations to include sales and R&D functions.

© WOC News

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