Japanese edible-gift maker looks to listing in Taiwan
December 25, 2013, 12:18 am TWN
TAIPEI -- Redhorse Co., Japan's largest manufacturer of overseas travel products and “omiyage” — edible gifts — will submit an application Wednesday for listing on the Taiwan Stock Exchange as a springboard to pursue larger growth in China's gift sales market.
Redhorse plans to raise funds in Taiwan when it goes public next year, part of efforts to capitalize on robust demand and the rise of tourist consumption in China, where the company began operations earlier this year, said Redhorse Chairman Fu Lu Yong.
The Japanese firm has set up offices in Beijing, Shanghai and Guangzhou with specially designed business models based on shopping habits of each city's residents. It expects revenue from China to reach tens of millions of Chinese yuan (millions of U.S. dollars) in 2013, he said.
Redhorse has run its business in Japan for around five decades and offers more than 4,000 products, accounting for half of the country's omiyage market, according to Fu.