Friday, March 7, 2014

Nissan believes Thai political turmoil temporary

Takao Katagiri, executive vice president at Nissan Motor Co., said the unrest in the Thai capital Bangkok is temporary and won't affect long term plans in Thailand and the rest of Southeast Asia.

Katagiri said Nissan will continue to invest in Thailand and the region, including the Philippines, where it established a new sales joint venture late last year with a 51 percent stake.

He said Nissan has an 8 percent share of Southeast Asia's auto market and hopes to expand its share to 15 percent by 2016.

He said the current turmoil in Thailand is "just a short term issue" in the backdrop of his company's long term plans.

"We are always making investments for a longer term basis," he said. "We have a strong belief in the growth so we will continue to invest into the ASEAN market, and also the Thailand market and of course the Philippine market."

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