Developed in 1980, Pocari Sweat was conceived as a beverage to replenish water and electrolytes lost through perspiration. Overseas distribution was initiated in 1982, and sales in the Philippines were launched in 2007 through Otsuka subsidiary, Otsuka (Philippines) Pharmaceutical, Inc.*1 At present, Pocari Sweat is distributed in 20 countries and regions,*2 primarily in Asia, and overseas sales volume is approximately equivalent to sales in Japan. Sales in the Philippines have also been steadily increasing.*3
January 26, 2016
Otsuka Pharmaceutical Co., Ltd.
Otsuka Pharmaceutical Forms Joint Venture Company for Functional Food and Beverages in the Philippines
- Otsuka Pharmaceutical has established a joint venture for functional food and beverages in cooperation with an experienced and trusted local partner in the Philippines. The new company will initially focus on expansion of nationwide marketing of Pocari Sweat, available in the Philippines since 2007.
- Launched in Japan in 1980, Pocari Sweat began expansion into overseas markets in 1982; overseas sales continue to post steady growth.
- Otsuka aims to expand its presence as a total health care company in the Philippines, a market where economic growth and increased health consciousness are expected to contribute to expanded demand for functional foods and beverages.
Tokyo, Japan - Otsuka Pharmaceutical Co., Ltd. (Head Office: Tokyo, Japan; President: Tatsuo Higuchi) has announced the January 14, 2016 establishment of OTSUKA-SOLAR Philippines, Inc., a joint venture with Solar Entertainment Corporation. Specializing in functional foods and beverages, the new company will focus on energizing marketing on a nationwide scale, aiming to enhance brand value and sales volume of Pocari Sweat and expand the Otsuka functional foods and beverages business in the Philippines.
The Philippines ranks among the higher-growth developing economies of Asia, consistently posting average annual GDP growth in the 6% range during recent years.*4 Increasingly comfortable lifestyles have led to a rise in health consciousness and widespread participation in sports, such as local running competitions. Expectations for expansion of Otsuka's business in the Philippines are based on predictions of increased demand for functional foods and beverages.
The new joint venture company is established in cooperation with the Solar Group, a business partner with an extensive track record in advertising, marketing and distribution in the Philippines.
Based on our corporate philosophy of 'Otsuka - people creating new products for better health worldwide', Otsuka Pharmaceutical is dedicated to the development of innovative products that contribute to the health of people around the world.
- 1Otsuka (Philippines) Pharmaceutical, Inc. was established in 1997.
- 2Markets where POCARI SWEAT is sold (as of January 1, 2015; in order of market launch) Japan, Taiwan, Singapore, Bahrain, Saudi Arabia, Oman, United Arab Emirates, Republic of Korea, Indonesia, Thailand, Malaysia, People's Republic of China, Kuwait, Qatar, Philippines, Egypt, Vietnam, Myanmar, East Timor, Cambodia
- 3Otsuka Holdings Co., Ltd. financial statements
- 4Asian Development Bank, 2015 estimate
Profile of new joint venture company
Company profile : SOLAR ENTERTAINMENT CORPORATION
Information in this news release was current as of the original release date.