Aggressive global expansion
We will aggressively expand our special lubricant and hot melt adhesive businesses and other business interests in emerging nations such as China, Thailand, Indonesia and Vietnam, where continued high growth in fields such as automobile and hygiene products is expected in the future.
Following the increasing overseas expansion of the Japanese automobile industry, we have established a local sales network in China, and are ramping up sales to Japanese, European, American and Chinese firms. We are furthermore strengthening our development capabilities in China to enhance our ability to respond promptly to changes in market needs, and are working to increase our market share by concentrating on community-focused product development and timely customer service.
At the same time, in addition to fortifying our sales network in the still-attractive North American market, we will enhance systems for improving and developing products and providing customer service, and will promote the development of new markets. As an extension of these efforts, we will use Mexico as a foothold to proceed with initiatives eying future expansion into Brazil, a market where future growth is expected.
In the field of hot melt adhesives for use in hygiene products, we will work to expand into the Chinese market. At the same time, we will expand our presence in Southeast Asia, focusing particularly on Indonesia, which continues to enjoy high rates of economic growth, and has a large regional population and high birth rate.