Idemitsu Kosan Co. Ltd has established and began operation of a new lubricant sales company, Idemitsu Lubricants Philippines Inc., in Manila, Philippines. To be led by Masato Kawai as president, the new company will promote the supply of lubricant oils to Japanese automobile manufacturers and auto parts manufacturers in the Philippines as well as expand sales of Idemitsu brand oil.
In the Philippines, the median age of the population is overwhelmingly young compared with its neighbouring countries, the GDP growth rate reached 6.2 percent in 2018, and steady growth is expected to continue also in the medium term. In 2018, sales of cars and two-wheelers reached 360,000 and 1,600,000 units, respectively, and solid growth is projected for the future as well in the demand for lubricants, including motor oils.
To meet various customer needs, Idemitsu will continue to work to both to establish sales structures deeply rooted in the local markets and strengthen and grow its business as a global manufacturer of lubricant oils.
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