Fujifilm Holdings Corporation
) recently announced the opening of a new subsidiary in the
Republic of the Union of Myanmar, named Fujifilm Myanmar Limited.
The subsidiary will commence operations on Dec 2, 2013.
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The company established the subsidiary with a paid-in capital of
¥20 million. The step has been taken to tap the growth potential
the region has to offer to companies like Fujifilm. The country
is roughly double the land area of Japan, with a population of
approximately 60 million. With the growth in labor force, the
nation offers a wide scope for economic expansion.
Fujifilm's presence in the region will help the company to
increase sales of Imaging Products, including photographic
papers, on which it been focusing since the 1970s. The subsidiary
aims to aid the company to gain a foothold in the region with
respect to its medical products, including diagnostic imaging
systems and X-ray films in addition to graphic arts products like
offset printing plate.
The company has been expanding in the ASEAN countries for quite
some time now, with Fujifilm Myanmar being its seventh subsidiary
in the region. Other subsidiaries are based in Vietnam, the
Philippines, Indonesia, Singapore, Malaysia and Thailand.
Fujifilm has been successfully extending its operations
worldwide. Recently, the company reported strong fiscal
second-quarter 2014 results. Net income in the reported quarter
grew roughly 90% year over year to ¥21.5 billion ($217.1
million). Revenues were recorded at ¥605.5 billion ($6,123.9
million), improving 11.5% year over year.
This Zacks Rank #1 (Strong Buy) company currently has a market
capitalization of $13.2 billion. Some other stocks worth
considering in the technology industry include
Lam Research Corp.
MKS Instruments, Inc.
Mattson Technology Inc.
). All of these stocks carry a Zacks Rank #2 (Buy).