New subsidiaries will foster closer communication with customers
Hakusan, Japan, November 2, 2011 - Eizo Nanao Corporation (TSE: 6737) announced the establishment of two wholly-owned subsidiaries, EIZO Europe GmbH (Germany) and EIZO Limited (United Kingdom), to expand its sales and marketing activities in Europe. The subsidiaries will operate in 14 countries* where EIZO is currently represented by Avnet Technology Solutions. The transition of current business from Avnet to EIZO will occur on January 1, 2012 in the UK and July 1, 2012 in other countries.
Avnet has represented EIZO as its exclusive distributor in 14 countries in Europe for 26 years and has played an integral role in building a solid customer base and strong brand awareness there. Avnet has always been committed to investing in its EIZO business so this unique model has proven successful even as the competition becomes more severe. In recent years, Avnet has successfully developed the medical and graphics markets for EIZO's diversifying product line.
However, as EIZO further expands into vertical markets and develops business with global customers, it has realized the need to represent itself as a single entity with one direct supply channel. For instance, customers in the industrial and air traffic control markets require long-term product supply which entails direct communication with the manufacturer.
"To meet our customer's requirements so that we can grow these businesses further, it is imperative that we establish a more dynamic business model," said Yoshitaka Jitsumori, president and CEO of Eizo Nanao Corporation. "We firmly believe that now is the time to establish a direct model through our own subsidiaries."
"While we are saddened that our long-standing partnership is coming to an end, we recognize that EIZO has different needs and desires for its business in the future," commented Graeme Watt, EMEA president for Avnet Technology Solutions. "We will support EIZO to the end of our distributorship agreement, making sure all transitional work will be finished seamlessly and professionally".
EIZO and Avnet have mutually concluded that EIZO should assume responsibility for all sales and marketing responsibilities as well as the entire customer base from Avnet. EIZO is committed to maintaining the high level of support that customers have enjoyed with Avnet while establishing a closer relationship with them to improve its products and services.
- Austria, Belgium, Bulgaria, Croatia, Czech Republic, Germany, Hungary, Italy, Ireland, Luxembourg, The Netherlands, Romania, Slovakia and the United Kingdom.
About EIZO
Founded in 1968, Eizo Nanao Corporation is a leading global manufacturer of high-end visual display products. The image quality, long-term reliability, and innovative features of EIZO monitors make them the products of choice in many financial trading rooms, back offices, hospitals, air traffic control centers, and design studios throughout the world. EIZO is based in Japan and listed on the first section of the Tokyo Stock Exchange. It is represented in over sixty countries by a network of subsidiaries and exclusive distributors.
For more information, please contact:
Eizo Nanao Corporation
153 Shimokashiwano
Hakusan, Ishikawa 924-8566
Japan
Phone: +81 76 277-6792
Fax: +81 76 277-6793
www.eizo.com
