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Notice Regarding Establishment of Sales Subsidiary in Russia, Clarion RUS LLC

2016/04/27

-Strategic sales office aimed at expanding sales in the Russian region-

Clarion Co., Ltd. (President/COO: Hidetoshi Kawamoto; hereinafter, ‘Clarion’) has established a 100% wholly-owned local sales subsidiary, Clarion RUS LLC (Provisional name; Head office: Moscow, Russian Federation; CEO: Joji Hirabayashi; Abbreviation: CRU), which will commence operations from May.

CRU is one part of a worldwide growth strategy, and has been established with the objective of enhancing sales promotion in the Russian market, which is expected to expand in future. Currently, Clarion Europe S.A.S (Head office: France) is carrying out activities in Russia for Clarion, but in future Clarion RUS will promote the development of the commercial market and acquire new trading rights, along with aiming to maintain and expand OEM trading rights for automotive manufacturers in the Russian market, by preparing a local sales, service and technical support system.

(1) Business Name (Provisional Name) Clarion RUS LLC (Clarion Russia Limited Liability Company)
(2) Representative Joji Hirabayashi
(3) Address 26 Pravdy Street, Moscow, 125040, Russia
(4) Date of Establishment February 2016 (Completed registration)
Operation planned for May 2016
(5) Capital RUB 15 million (Around JPY 30 million)
(6) Shareholders Clarion RUS LLC 100%
(7) Number of Employees 3 people (Upon initial establishment)
(8) Sales JPY 600 million (First year)
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