Regarding the establishment of a new company for sales and customer support operations in China
We would like to inform you of the establishment of a wholly-owned new company in China for the purpose of sales and customer support operations, as detailed below.
Details
1. Reason for establishing the company
In China, we have been developing our business through sales agents since 2010. On this occasion, we have decided to establish a local subsidiary of ULVAC-PHI, Inc. in order to strengthen our sales and customer service support structure.
Going forward, we will work to further improve customer satisfaction and aim to expand our market share in the Chinese market.
2. Overview of the new company
Company name: 爱发科费恩斯（南京）仪器有限公司 (English name: ULVAC PHI Instruments Co., Ltd.)
Representative: Chairman, Yasuhiro Hara (Non-executive; Executive Officer of ULVAC, Inc. and President & Representative Director of our company)
Location: Nanjing City
Main business activities: Sales of our products and customer support operations within China
Established: November 2023
Fiscal year end: December
Registered capital: 5 million Chinese yuan
Ownership ratio: Our company (100%)
End