Rix to set up shop in Indonesia
New sales subsidiary to market factory pumps, valves to Japanese makers
FUKUOKA, Japan -- Japanese high-speed rotary joint and washer company Rix will establish a sales subsidiary in Indonesia to pitch factory pumps and valves to Japanese makers in the country.
The unit will be set up with a capital of 5 billion rupiah ($375,300) along with a local partner this autumn, with Rix taking a 67% stake.
Many Japanese manufacturers of automobiles, steel and tires have made inroads into the Southeast Asian country, but until now, Rix employees have had to travel over from a subsidiary in Thailand to market the company's products.
With four employees, including local hires, in Indonesia, the company anticipates the new base will help increase efficiency and sales.
Rix is scrambling to construct an overseas network as significant growth cannot be expected in its domestic market. In 2012, it founded a subsidiary in Germany followed by another in the U.S. in 2015.
The aim is to lift the company's overseas sales ratio from the current roughly 10% of the total.
The company's consolidated sales for the year ended March 2017 stood at 33.7 billion yen ($303 million).