Frue has completed the establishment of its new Guangzhou subsidiary, moving from March's preparation notice to a completed setup in a market it describes as a priority for overseas sales growth. The company said the unit is meant to strengthen and expand sales activity in China as it works toward the management targets in its mid-term vision.
The subsidiary was established on May 18 in Guangzhou, China, with capital of 22 million yuan, about ¥500mn, and is 100% owned by Frue. The disclosure also names Hitoshi Nishimura as director.
The business scope spans several of Frue's existing lines. It covers planning, manufacturing, sales, import, export and rental of print sticker machines, plus planning, manufacturing, sales, import and export of character goods and image-based paid services.
What remains unclear is pace. The filing gives no China sales target or operating ramp timetable beyond the May establishment date, and management said the impact on earnings is expected to be minor for now.