News room

ITOKI CORPORATION (Head office: Joto-ku, Osaka City, President: Yoshiro Hirai, hereinafter "ITOKI") has reached an agreement with Modernform Group Public Company Limited (hereinafter "Modernform"), a major furniture manufacturer in Thailand, to establish a joint venture company, ITOKI MODERNFORM CO., LTD., and has signed a joint venture agreement.

Previously, ITOKI had been conducting business mainly targeting Japanese companies expanding into Thailand and neighboring countries through ITOKI (Thailand) Co., Ltd. (established in 2007 (※1)). However, in order to deepen its presence in Thailand and the Mekong region, including the local market, rather than being limited to the Japanese corporate market, ITOKI formed a business alliance with Modern Form in March 2014.

The new company, ITOKI MODERNFORM CO., LTD, is positioned to further strengthen this business partnership, and will not only enable cross-selling of the products of both companies, but also collaboration in production within Thailand (considering the production of joyten and ITOKI products), which will enable us to accelerate business in Thailand and the Mekong region (Myanmar, Laos, Cambodia, Vietnam). We will continue to vigorously promote business development in Asia, with an eye on a market of 600 million people that will be created with the launch of the AEC (※2).