Teijin has initiated sales where they expect to expand their market based on the view of expanding business globally
Teijin Limited, a technology driven Japanese company, recently announced that it has inked an agreement with The Healthy Grain Pty. Limited, a venture company from Australia, to buy the exclusive sales rights for BARLEYmax in Asia.
A non-genetically modified product, BARLEYmax is a barley rich in water soluble dietary fiber as well as resistant starch. It was reportedly developed by the Commonwealth Scientific and Industrial Research Organization, a national science agency in Australia.
Apparently, Teijin has conducted clinical trials, developed products by highlighting special features of several ingredients, expanded domestic sales and implemented marketing in order to improve recognition of the brand since 2015, when it entered into an agreement with Healthy Grain in Japan for the joint development of BARLEYmax.
Teijin has reportedly acquired exclusive sales right in Asia and initiated sales where the expansion of market is expected judging by the importance of further global business expansion.
According to sources familiar with the matter, the agreement permits Teijin exclusive marketing rights in China, Thailand, Taiwan, Indonesia, Singapore and Korea that have markets suitable for BARLEYmax owing to their local custom of eating rice, rising health consciousness and consumption of functional cereals.
As Teijin is expected to focus on those markets, it will target the launch of products with the help of local companies and export processed food from Japan, sources informed.
Reportedly, Teijin is aiming to expand its business in global healthcare in order to enhance the life quality around the world and help people enjoy fulfilling lives.
For the uninitiated, Teijin group is a technology driven group that offers advanced solutions in the areas of safety, disaster mitigation, security, environmental value, increased health consciousness and demographic change. It mainly focuses on highly-performing fibers like carbon fibers & composites, films, healthcare, polyester fibers and IT. The group owns more than 170 companies and is spread out in more than 20 countries employing 20,000 people.
Source Credit- https://finance.yahoo.com/news/teijin-acquires-exclusive-sales-rights-030000669.html