Tokyo-based printing machinery firm Komori Corporation, which provides printing products for currency notes across the globe, has established an Indian subsidiary to strengthen its footprints in the domestic market.
Komori was till date operating in India via its sole distributor Insight Group, in which Komori has bought a majority stake now.
The company aims to strengthen and enhance its presence in India and nearby countries such as Bangladesh, Sri Lanka, Nepal with the launch of the India office, Komori India, Managing Director, Hirofumi Hoshino said.
"With the India footprint, we will be able to provide world-class quality and strong support to aid the Indian market," he said.
Komori is among the top-two companies worldwide, engaged in providing currency printing machines for many countries including the Indian rupee.
The Japanese firm also specialises in various kind of printing machines used to produce brochures, calenders, books, high-quality magazine publications and packaging printing like cosmetic boxes, liquor boxes, pharma boxes, cigarettes and match-boxes packaging, among others.
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Besides, the company provides printing products to manufacture credit and debit cards, gift cards, sim cards, etc.
Komori is a market leader in India with a market share of over 40 per cent.
With India office in place, Komori plans to strengthen and scale its operations further in the country and the sub-continent, the company said.
"In a bid to have a strategic hold in the Indian market, the company will be introducing customised printing presses suitable for Indian market," it added.