Japan based snack manufacturer Ezaki Glico has released a plan to set up a new, wholly owned subsidiary called Glico Asia Pacific Pte. Ltd. in Singapore on 1st June 2017.
According to a press release, the new company has been set up to engage in business control as well as marketing activities within the ASEAN (Association of South‐East Asian Nations) area, a region which the company describes as “expanding year on year, with increasing consumer demand”.
The company aims to establish a brand “to be supported by consumers in the area” and to boost business expansion by setting up a new company that is capitalised at about ¥1.5 billion ($13 million).
Source: Ezaki Glico