BANGKOK, NNA - Japanese business consulting and training firm HR Institute Inc. (HRI) has launched a subsidiary in Thailand where Japanese-owned companies are converging and are increasingly eager to invest in cultivating talent.
The new firm, named HRI (Thailand) Co., was established on Oct. 4 in Bangkok with a capital of 2 million baht (about $66,000). It is owned 39 percent by HRI, 31 percent by a Thai accounting firm and 10 percent each by HRI (Thailand) Managing Director Yoshikazu Egusa and two of its employees.
The subsidiary is currently staffed by Egusa, who has been an HRI consultant, and three Thai employees. Another person will join them in November and the five-member strength will be maintained for a year.
“As our clients, we will mainly target Japanese-owned companies that are rather large in scale and have been settled here for at least five years because they have a high need to cultivate talent,” Egusa said. HRI (Thailand) is doing business mainly with manufacturing firms but is also reaching out to businesses in other sectors, he said. It also aims to expand the business to locally owned companies while testing the water.
In Asian countries, particularly Thailand, companies are shifting into the phase of investment in human resource development from the phase of investment in business, Egusa said. Thailand is a country where Japanese-owned companies are converging and it has a high affinity for Japan as well as a great need for content, as Japan does, he said in giving reasons for HRI’s move into the Southeast Asian country.
HRI also has business operations in Vietnam and China. It has been providing services in South Korea through a local partner and plans to establish a foothold in Taiwan in the near future, according to Egusa.