Tokyo-based Casio Computer Co, a maker of consumer electronics, is committed to investing in Thailand so that it can use the country as a springboard for expansion in Myanmar and Laos.
"We [Casio in Japan] are considering expanding our business into other Asean members including Myanmar and Laos through our Thai unit Casio Marketing (Thailand), which was assigned to be our base in this region," senior executive managing officer Hiroshi Nakamura said yesterday during a visit to Thailand.
"Thailand will be chosen to look after marketing activities in Myanmar and Laos. Thailand shares a relatively similar culture with those countries."
Even though Casio is a leading brand for consumer products, it is also operating IT solution services.
Casio has operated for 30 years in Thailand, where it has mainly produced its well-known watches but also calculators and electronic dictionaries at its factory in Nakhon Ratchasima province.
More Casio products are expected to be made in Thailand, one of its largest bases along with Japan and China.
In recent years, some Japanese and South Korean companies have relocated their production bases from Thailand to countries including Vietnam to tap better investment privileges, less risk of natural disasters such as floods and a more stable political situation.
Casio Marketing (Thailand) was set up last year to foster better relations and cooperation between the Tokyo headquarters and stakeholders in Thailand.
"Casio is also looking forward to engaging the local consumer market with more on-the-ground activities as well as the introduction of products under its portfolio," Mr Nakamura said, adding that Thailand was one of the company's largest markets in Asean.
Koji Shinjo, managing director of Casio Marketing (Thailand), said Thai sales reached ¥5 billion (1.46 billion baht) last year. The company expects to double that figure by 2017.
Apart from using watches as its growth engine, the company will explore more opportunities in other business sectors in Thailand. They will include products for supporting learning and knowledge such as calculators and dictionaries, creative and entertaining products such as digital cameras and electronic musical instruments and keyboards and products for supporting business management.
"Thailand is still a good market for us. Half our sales come from watches," Mr Shinjo said.
"As for calculators and instruments, we're very small, but we can see a lot of opportunity to grow further in this new segment."