Operations at the office in Tokyo will be oversee by newly appointed managing director Shunsaku Kubo, who joins the Dutch distributor after a 20-year career in the chemical manufacturing industry.
An IMCD spokeswoman told us that “our new office in Japan will follow IMCD's general business model. In that sense, we do expect Pharma to be one of the markets where we will be active in Japan.”
She also suggested IMCD may expand the office, explaining that: “For the time being it is a sales office, but we will adapt our activities to the demands of the market. One of Mr. Kubo's first tasks will be to establish relations with customer and suppliers in the markets.”
The opening of the Tokyo office follows six months after IMCD’s last investment in Asia.
In September the firm opened a sales operation in Ho Chi Minh City, Vietnam describing the move as “the latest of a succession of steps that IMCD has taken to build up presence in Asia Pacific.”
Financials
According to financial results released earlier this month, the EuroNext Amsterdam listed distributor’s revenue and operating profit for 2015 were €1.52bn ($1.72bn) and €128m, up 13% and 17% year-on-year, respectively.
Revenue generated in Europe was €968m, up just 1% on 2014. This contrasts with revenue generated in Asia, which increased 9% to €310m.
Global expansion
In addition to building in Asia, IMCD has also increased its presence in other markets. In June 2015 IMCD bought an 80% stake in MF Cachat – a specialty chemical distributor. In January this year it opened a sales office in New Jersey.
Of more relevance to the drug industry was its acquisition of Brazil-based active pharmaceutical ingredient (API) distributor Selectchemie.