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The leading Japanese technology company, Soliste Corporation, today formally celebrated the establishment of its regional office in Hong Kong.

Specialising in providing Electronics Manufacturing Service (EMS) to manufacturers, Soliste Corporation plans to use Hong Kong as a base to further expand its business into Mainland China.

The Hong Kong office began operations on October 1. It is responsible for coordinating the supply of components and devices to the Mainland, and procurement from the Mainland to Japan. The office will also play an important role in business development in China.

According to the President and COO of Soliste Corporation, Mr Tetsu Tano, Hong Kong's proximity to the Mainland, and extensive experience and knowledge of doing business in the Mainland market will allow the company to carry out thorough market research to identify potential partners among Chinese manufacturers.

He said, "We are very excited about the establishment of our Hong Kong office. The recent striking developments in China's electronics market, with an increased demand for electronic components and devices, have had a significant impact across the industry. Production activities have also grown significantly with increased investment by Japanese and Mainland sources. Given the tremendous business opportunities in the Mainland, we believe it is crucial for us to stay close to the market through our presence in Hong Kong."

"The establishment of a Hong Kong company is the prelude to the overall expansion plan we have in mind for the Mainland market. From a base in Hong Kong, we will actively study and pursue business opportunities in Shenzhen and Dongguan, as well as in other parts of China. In view of the continuously improved performance of Mainland-made electronic components and devices, we will also aim to work with premium manufacturers to sell their quality components and devices exclusively in Japan," said Mr Tano.

The Hong Kong office will also be used as a base to provide timely and efficient aftercare services to support existing Japanese customers' business expansion into China. Mr Tano said the company plans to grow the Hong Kong office as the volume of business rises.

At the opening ceremony, the acting Associate Director-General of Investment Promotion at Invest Hong Kong, Mr Edward Chiu, said, "The establishment of Soliste's regional office illustrates the continuing confidence that Japanese investors are showing in Hong Kong. We are aware that an increasing number of Japanese companies like Soliste are using Hong Kong as a management base to oversee sales and manufacturing activities in the Mainland."

According to a recent survey conducted by the Census and Statistics Department, as at 1 June 2004, there are more than 710 regional headquarters and regional offices run by Japanese companies in Hong Kong. This is the second largest overseas presence after the United States.

Mr Chiu wished Soliste every success in its future developments.

Invest Hong Kong is the Hong Kong Special Administrative Region Government department charged with encouraging and facilitating foreign investment into the city by providing all the support needed to establish a business presence here. For more information, please visit the website at www.investhk.gov.hk.

End/Tuesday, November 9, 2004

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