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Leica Camera AG, Solms, will establish a new Japanese subsidiary on March 1,
2005. The subsidiary, to be named Leica Camera Japan Co., Ltd., will take care
of the promotion and distribution of Leica products in the important Japanese
market. To date, these tasks have been performed by the independent distributor
Nihon SiberHegner K.K. Leica products are already held in high esteem by Japanese
customers for their quality, precision, and solidity. The Company¡¯s creation of
its own Japanese sales organisation will reinforce its service to the customers
and will also stimulate sales increases.
Leica Camera Japan Co., Ltd. will be a joint venture of Leica Camera AG, Solms,
which is to hold 51% of the capital, and Herm¨¨s Japan Co., Ltd., Tokyo, with a
share of 49%. Herm¨¨s International, Paris, the latter company¡¯s parent, is one
of the major shareholders of Leica Camera AG, owning 31.5% of the capital of the
German optics specialist.
Leica Camera Japan Co., Ltd. is the fourth foreign subsidiary to be established
directly by Leica Camera AG, following the subsidiaries in the United States,
the United Kingdom and France. In the Company¡¯s fiscal year 2003/2004 (FY end
March 31), sales of the Leica Camera Group in the Asian-Pacific region amounted
to € 25.0 million, while total sales stood at € 119.1 million. The Japanese market
is the most important market in this region and the fourth most important market
on a global scale.