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Casio opens subsidiary in Russia

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MOSCOW, September 30 (RIA Novosti) - Casio Computer Co. Ltd has founded a subsidiary in Russia with a view to raising its share on the Russian market, the Japanese company said on Tuesday.

The new limited liability company, headquartered in Moscow, will be launched on Wednesday to promote virtually all the items produced by Casio, except portable data systems and cash registers, which will remain under the parent company.

Casio products were previously imported by Russian distributors from Casio's European subsidiary. The Japanese company said the distributors would remain its wholesale partners.

Hiroshi Nakamura, CASIO Europe CEO, said: "It is a very important step for Casio to found a subsidiary in Russia. This will considerably boost the efficacy of the corporation as a whole and help achieve the goal of expanding market share in the relevant sectors."

Casio Russia CEO Masahide Komai forecasts a considerable rise in commodity turnover in the next few months.

Casio produces over 100 million items annually. Commodity turnover was just under $6 billion in April 2007- March 2008.

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