Major trading houses' joint ventures soaring<\/p>\n
TOKYO (AFP): The number of Asian joint ventures affiliated
\nwith six major Japanese trading houses is rapidly increasing,
\nnotably in China, where the figure is expected to surge 79
\npercent in the year to next March, according to a survey
\npublished yesterday.<\/p>\n
Six major traders -- Mitsubishi Corp., Mitsui and Co. Ltd.,
\nMarubeni Corp., Sumitomo Corp., Itochu Corp. and Nissho Iwai
\nCorp. -- are expected to have established a total of 522
\naffiliates in Asia by next March, up roughly 20 percent from a
\nyear earlier, the Nihon Keizai Shimbun said.<\/p>\n
An affiliate is defined as a company in which a trading house
\nowns at least a 20 percent stake and is included in the group
\nannual reports, according to the leading business daily which
\nconducted the survey.<\/p>\n
The number of affiliates in China is expected to rise from a
\ncombined 62 at the end of this March to 111 next March, the Nihon
\nKeizai said.<\/p>\n
In the Association of Southeast Asian Nations (ASEAN) --
\nBrunei, Indonesia, Malaysia Philippines, Singapore and Thailand
\n-- the figure is expected to rise from a combined 267 to 297 in
\nthe same period.<\/p>\n
In China, Itochu is expected to set up 19 group affiliates by
\nthe end of next March to bring the total number of affiliates in
\nthe country to 46, while Sumitomo and Marubeni are each expected
\nto set up nine, bringing Sumitomo's total to 21 and Marubeni's to
\n20, the daily said.<\/p>\n
In ASEAN, Sumitomo is expected to set up 10 more affiliates to
\nbring the total number in the region to 56, Itochu to set up six
\nmore to 63, and Mitsubishi to set up five more to 30, it said.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/major-trading-houses-joint-ventures-soaring-1447893297",
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"sponsor_url": "https:\/\/okusiassociates.com"
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