Japan’s Yamaha aims to replicate its Chinese sales success in India, as the company prepares to begin shipping musical instruments made in the South Asian country.
“India will be an enormously promising market in a few decades if an effort is put into outreach,” President Takuya Nakata told reporters Thursday in Tokyo. “I want to make India our next China.”
Yamaha began test production this month at a new factory in the southern city of Chennai, and shipments of electronic instruments and acoustic guitars made there will start in the spring, he said.
The company achieved rapid growth in China, forecasting sales of 59.1 billion yen ($542 million) for the year ending in March, roughly eight times the company’s figure from fiscal 2002.
The president also said he looks to unveil in April the company’s midterm management plan that starts with fiscal 2019. The plan will focus on creating new value through stronger customer service, products and services as well as contributing to society through Yamaha’s businesses, Nakata said.