Japanese 'lifestyle' SMEs see opportunities in Thailand
Many japan small and medium-sized enterprises selling lifestyle products foresee a great opportunity to penetrate the Thai market, seeing this country as a potential distribution centre with good infrastructure to facilitate their businesses' expansion ab
"Under the Japanese government’s policy to encourage its SMEs to penetrate overseas [markets], Thailand is one of the strongest markets that are desired by Japanese SMEs for them [Japanese SMEs want] to explore and sell their products. Factors that Japanese enterprises have considered are good market size, with purchasing power continue [along with] economic growth, [and] good basic infrastructure, especially the logistics system," Satoshi Oyama, deputy director of the lifestyle-related-industry division, manufacturing industry department, of the Japan External Trade Organisation (Jetro), said recently.
Japanese entrepreneurs are encouraged to expand into Thailand, he added, because of the currently weak yen and high popularity of Japanese products among Thai buyers.
He said that among the 4 million Japanese SMEs, about 4,000 had done business in Thailand, mostly in manufacturing-support industries, restaurants and services. Thousands more SMEs also want to do business outside their own country, and Thailand is one of the favoured destinations.
Along with food businesses, SMEs manufacturing such goods as home decorative items, kitchenware, educational toys, clothes, and health and wellness items would like to introduce their products to Thailand.
Oyama said that with their functional, creative and safety-conscious designs, Japanese products should be well accepted by Thai consumers. Prices are also affordable.
Besides Thailand, Indonesia and Vietnam are also interesting markets for Japanese enterprises because of their large market size and emerging economic growth.
Jetro last week held a business-matching event in Bangkok to introduce 43 Japanese SMEs to 240 Thai enterprises, mostly modern traders and distributors.
Highlighted Japanese products set to penetrate the Thai market include breastfeeding underwear and breastfeeding clothing under the Mo-House brand, Shirataki Sake Brewery’s moisture essence made from rice sake, IceJapan instant cooling packs, rice clay – an educational toy from Gincho that children can eat safely – and Okabe Yoshokki soft-touch silicone spoons for small children.
