Fuji Media Holdings and ITOCHU Announces Capital and Business Alliance with TV Direct Public Company Limited, Largest TV Shopping Operator in Thailand
July 14, 2014
Fuji Media Holdings, Inc. (headquartered in Minato-ku, Tokyo; Hideaki Ohta, President & COO; hereinafter “Fuji Media Holdings”) and ITOCHU Corporation (headquartered in Minato-ku, Tokyo; Masahiro Okafuji, President & CEO; hereinafter “ITOCHU”) announced that the two companies have agreed with TV Direct Public Company Limited (“TVD”), the largest TV shopping operator in Thailand, in conjunction with a capital and business alliance, on acquisition of shares of TVD. The companies will each hold 2.43% (total 4.86%) of the total shares of the company as described below.
Fuji Media Holdings and ITOCHU have already maintained an excellent relationship with TVD through undertakings such as Asia Shopping King, a TV shopping project of FI Media Project, Inc. (headquartered in Minato-ku, Tokyo; Osamu Kanemitsu, CEO; hereinafter “FIM”), a subsidiary of the two companies that plans business for Asia. The companies hold the business strategy and future potential of TVD in high regard.
TVD, which boasts offering of more than 2,000 items under 16 categories, and as many as 2.6 million customers, is the industry’s largest operator in Thailand. While offering TV shopping services through infomercials(*) and dedicated channels, the company is also in the process of developing the businesses of mail-order sales through catalogs, E-commerce, as well as sales through its own retail stores. As the industry’s largest operator in Thailand, TVD is moving forward with these efforts to boost its services for customers.
Given the business environment in Thailand reflected by the start of digital terrestrial broadcast, the TV shopping business in which the inflow of foreign capital is underway, and intensifying competition in the E-commerce market, FIM and TVD have been working on capital and business tie-ups toward strengthening its businesses to the next level, which requires product differentiation and business development abroad.
On the back of this alliance, the companies will continue to work on collaborations with TVD starting with sales of Japanese products to Thailand. Dinos Cecile Co., Ltd, a mail-order operator affiliated with Fuji Media Holdings, will leverage the brand strength and influence of the media, customer base, and marketing strength of TVD in Thailand, and plans to roll out its E-commerce services on websites for Thai customers. The companies are also studying the possibility of starting a website that proposes the latest lifestyle selections for Thai youths, through which the companies, making the most of competitive content owned by the group companies of Fuji Media Holdings, including Fuji Television Network, Inc., will introduce and sell entertainment and items that are trending well in Japan. Moving forward, the companies will further expand collaborations with TVD in mutually beneficial domains, leveraging the overseas operations network of the ITOCHU Group and sharing with TVD expertise on business development overseas.
(*)infomercials: A coined word in combination with information and commercials
Acquisition of TVD shares
|Name of stock||
TV Direct Public Company Limited
(Listed on the MAI market of the Stock Exchange of Thailand)
|Number of acquired shares||
Fuji Media Holdings: 11,421,000 (2.43%)
ITOCHU : 11,421,000 (2.43%)
Outline of TVD
|Name of company||TV Direct Public Company Limited|
|Type of business||
TV shopping, mail order through catalogs,
E-commerce, and sales through own retail shops
|Location of headquarters||25 Watcharaphon Road, Tarang, Bangkhen, Bangkok, Thailand|
|Date of establishment||April 21, 1999|
|Number of employees||1,682|
|Sales||6.9 billion yen (FY2013 actual)|