Fukuya, the Fukuoka-based spicy mentaiko maker, announced on Jan. 25 that it would begin internet sales in Singapore. The company plans to open a wholly-owned local subsidiary as early as this spring and aims to expand sales in Southeast Asia to offset sluggish domestic performance.
Once the new company is established, Fukuya plans trial mentaiko exports targeting Japanese residents of Singapore. Based on the market response, it hopes to expand its export menu to include mentai sauce and other processed goods. The Singaporean entity would become Fukuya’s second wholly-owned foreign subsidiary, following in the footsteps of their Chinese company established last April. “Singapore’s friendly relations with Japan are a plus. Once this effort gets off the ground, I hope to expand into other Southeast Asian countries”, remarked company president Masataka Kawahara. According to a survey conducted by the Fukuoka branch of Teikoku Databank, the spicy mentaiko industry peaked in size at ¥125.8 billion in 2006, after which declining per capita consumption and intensifying price competition led to a 30% contraction of the sector by 2010. After sales peaked at ¥18.4 billion in 2003, they remained steady until 2009 but have fallen for three consecutive years. Fukuya hopes to commence its Singapore operations in earnest by this summer. Source: Nishinippon Shimbun
