BANGKOK, NNA - Morinaga & Co., Japan’s third-largest confectionery marker by revenue, has set up a wholly owned sales unit in Thailand to build a foothold in Southeast Asia, four months after ending a partnership in Indonesia.
Morinaga Asia Pacific Co., which has an initial paid-in capital of 57.14 million baht ($1.8 million), began operations in Bangkok on May 10, the Japanese parent company said Monday.
After setting up a representative office in Thailand in 2015, Morinaga has been selling its popular ‘Hi-Chew’ fruity chewing candy and other confectionery through a local agent.
Morinaga plans to market these products in other Southeast Asian markets and Hong Kong and Oceania as well as in Thailand.
In January, Morinaga sold its 51 percent stake in PT. Morinaga Kino Indonesia to its partner PT. Kino Indonesia Tbk for an undisclosed sum.