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Bayer targets expansion in Japan

22/11/2005
The Bayer Group is targeting further expansion in Japan and plans to invest over €130 million by 2008. "Japan is the biggest and most successful country for Bayer in the Asia-Pacific region," said Werner Wenning, chairman of the board of management, at a press conference in Tokyo during "Bayer Week", an event held in conjunction with Japan's "Germany Year".
The group’s sales in Japan rose by 7.8% in the first nine months of 2005 to Yen 149 billion (approximately €1.1 billion). This makes the country the group's third largest sales market behind the USA and Germany. "It is our firm intention to further expand our presence in Japan and to continue to grow faster than the market," explained Mr Wenning.
"All three subgroups are firmly established in Japan," he continued. Bayer HealthCare accounts for the largest volume of sales. With sales of Yen 26 billion, the Bayer CropScience subgroup recorded a fall in business compared with the same period in the previous year. This was largely due to the divestment of several products. However, net earnings were up primarily as a result of improved cost management. In the next five years, Bayer CropScience plans to introduce a total of seven active ingredients onto the Japanese market. Bayer MaterialScience enjoyed the largest growth in sales, with a rise of 24.7% to Yen 50 billion in the first nine months. The markets for polycarbonate and polyurethane - especially the high-tech plastic Makrolon and the rigid foam pre-product MDI - were characterised by strong demand.
 


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