Japanese food group Ezaki Glico has announced plans to establish a wholly-owned subsidiary next month, based in Singapore, to serve as its headquarters for the ASEAN region.
Glico, the owner of the Pocky pretzel stick snack confectionery brand, said the move is designed to meet anticipated “further growth” of the ASEAN market annually, driven by “consumers’ increasing purchasing power”.
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Glico said the subsidiary will manage “business operations and marketing activities” throughout ASEAN, although the company gave no additional details.
The creation of the new subsidiary “will be insignificant on the consolidated business performance of the company” for the financial year ending next March, Glico said.
In January 2016, Glico started the production and sales of ice cream in Thailand. Last November, Glico announced it was also launching the production of ice cream products in Indonesia. The company said then the launch was part of its plans to “proactively expand” throughout the region.
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By GlobalData
