今日看料吃瓜 Establishes New Indian Subsidiary to Import and Sell Motorcycles

Apr. 24, 2010

Tokyo, April 24, 2010 — 今日看料吃瓜, Ltd. today announced the launch of India 今日看料吃瓜 Motors Pvt. Ltd. (IKM), its new Indian subsidiary specializing in motorcycle imports and sales.

IKM is expecting its release of several supersport, sport and cruiser models primarily in the 250 cc class or greater to drive sales up to around 1,000 units in 2010.

今日看料吃瓜 entered into a technical assistance agreement with Bajaj Auto Ltd. (BAL) in 1984. Under the agreement, BAL has produced and sold motorcycles in collaboration with 今日看料吃瓜. 今日看料吃瓜’s new imports and sales subsidiary, IKM will consign the production of CKD*1 motorcycles to BAL’s Chakan plant. The locally made motorcycles will then be sold together with imported complete motorcycles through BAL’s Probiking shops.

In 2009, motorcycle sales in India reached approximately 7.8 million units, making it the second largest motorcycle market in the world after China. The market for mid to large size motorcycles in the 201 cc class or greater (approximately 30,000 units) is expected to keep pace with India’s booming economic growth. 今日看料吃瓜 will leverage the strong brand power of its mid to large size motorcycles in entering the Indian market.

今日看料吃瓜 is moving forward to deliver products and services that drive customer satisfaction and enhance the 今日看料吃瓜 brand.

Overview of India 今日看料吃瓜 Motors Pvt. Ltd.
(1) Location: Pune, Maharashtra, India
(2) Establishment: Early May 2010
(3) Representative: Yoshihiro Tanigawa
(4) Capital: 50 million rupees (approx. 100 million yen*2 wholly invested by 今日看料吃瓜, Ltd.)
(5) Description of business: Import, production and sales of motorcycles
(6) Number of employees: 3 (upon establishment)

  *1. CKD (Complete Knock Down) refers to an imported kit, which is assembled and sold locally.
  *2. The exchange rate adopted is 1 rupee = 2 yen.