Mitsui & Co. to Launch Asian Headquarters in April

Mitsui & Co.’s iron and steel products unit will integrate the businesses in Asia including India and China into the headquarters in Singapore in April. The unit tries to control and expand the own business in Asia under tie-up with the iron and steel products unit in Tokyo when the firm launches new Asian headquarters with 13 products units. The Asian unit tries to improve the functions including trading of Japanese steel products to Asia and increase the after tax profit to 3 times from now by investing 40 billion yen with the Tokyo’s unit in 4 years. The Asian unit seeks growth as Asian company in the growing Asian steel market. The Asian iron and steel products unit will keep support export to Asia by Japanese steel makers when Japanese makers try to keep the presence in Asian steel market. The unit focuses the resources including manpower into the core bases of Chinese 3 local firms, India, Bangkok and Hong Kong to expand the local business in each country. The unit improves the trading functions of Asian branches and local subsidiaries to generate more profit from local business by taking own risks though many of Asian sites just support trading by Tokyo’s headquarters. The unit transforms those Asian base into profit centers by improving the needed infrastructures including credit and financial management and developing human resources.