Honda Establishes Automobile Subsidiary in Nigeria

Honda Establishes Automobile Subsidiary in Nigeria 
Tokyo, Sept 18, 2013 - (JCN Newswire) -  Honda Motor Co., Ltd. announced at a
press conference in Lagos, Nigeria, the establishment of Honda Automobile
Western Africa Ltd. (HAWA), a wholly-owned Honda subsidiary for the import and
sales of automobiles and automobile parts in Nigeria, the largest market in
Western Africa. Attendees included representatives from the Embassy of Japan in
Nigeria and representatives from Honda including Manabu Nishimae, Managing
Officer / Chief Operating Officer for Regional Operations (Europe, CIS, the
Middle & Near East and Africa). 
As the second local automobile subsidiary established by Honda in the African
region, following South Africa, HAWA will officially begin operations this
month. HAWA will import City from Thailand and Civic, Accord, CR-V and other
models from the U.S. and sell them in Nigeria. In addition to introducing
automobile products satisfying customers in Nigeria, Honda will focus on
strengthening HAWA's after-sales service to ensure customer satisfaction. 
Based on Honda's basic approach with local operations to "start
small and grow big," Honda has been expanding its motorcycle business in
Nigeria through a motorcycle production and sales subsidiary. Taking the same
approach, Honda will strive to expand its automobile business in Nigeria, the
most populous country in Africa where continuous growth is expected. Based on
its 2012 automobile sales in Nigeria, which was approximately 2,500 units,
Honda will strive to sell more than 3,000 units in 2013 and 4,000 units in
2014. 
Positioning Africa as a new growth market, Honda has been strengthening its
sales in this region through local Honda subsidiaries. In southern Africa,
Honda has been expanding its motorcycle, automobile, and power products
business through a local subsidiary Honda established in the Republic of South
Africa in 2000. In western Africa, Honda established a motorcycle production
subsidiary in Nigeria in 1979. In eastern Africa, Honda established an
automobile business office in December 2011 and a motorcycle production and
sales subsidiary in Kenya in March 2013. 
Comment by Manabu Nishimae, Managing Officer / Chief Operating Officer for
Regional Operations (Europe, CIS, the Middle & Near East and Africa): 
"I am pleased to announce the establishment of Honda Automobile Western
Africa Ltd., a new distributor of Honda automobiles and parts here in Nigeria,
in order to further develop and enhance our business in the country. Honda has
taken a bold step toward the expansion of the 'Joy of Buying' in
Nigeria, leading us towards the achievement of the 'Joy of Selling'
and the 'Joy of Creating.' And as a result, I am convinced that we
can achieve dynamic growth of our business here in Nigeria." 
About Honda Automobile Western Africa Ltd. (HAWA) 


Establishment:        April, 2013
Capital Investment:   1.85 billion Nigerian naira
Capitalization Ratio: 100% Honda Motor Co., Ltd.
Representative:       Takayuki Yamashita
Location:             Victoria Island, Lagos, Nigeria
Business:             Import and sales of Honda automobiles and automobile
parts

 
About Honda 
Honda Motor Co., Ltd. (TSE:7267/NYSE:HMC/LSE:HNDA.L) is one of the leading
manufacturers of automobiles and power products and the largest manufacture of
motorcycles in the world. Honda has always sought to provide genuine
satisfaction to people worldwide. The result is more than 120 manufacturing
facilities in 30 countries worldwide, producing a wide range of products,
including motorcycles, ATVs, generators, marine engines, lawn and garden
equipment and automobiles that bring the company into contact with over 19
million customers annually. For more information, please visit
http://world.honda.com. 
Contact: 
Honda
Media Inquiries
corporate_pr@hm.honda.co.jp
+81-3-5412-1512 
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