[LMG] Loveable Marketing Group Announcement regarding establishment of local subsidiary in Malaysia
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Press release: June 10, 2024
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Loveable Marketing Group Announcement regarding establishment of local subsidiary in Malaysia
Lovable Marketing Group Co., Ltd. (Headquarters: Minato-ku, Tokyo, President and Representative Director: Masayuki Hayashi, Securities code: 9254, hereinafter referred to as the “Company”)
We are pleased to announce that we have established “Marketing Group Asia Sdn. Bhd.”.
* Background and aim of establishing the Malaysian subsidiary * One of our growth strategies is to launch and expand overseas business, including in Southeast Asia. In March 2023, DTK AD, headquartered in Thailand,
CO.,LTD. (hereinafter referred to as DTK)
AD) has become a consolidated subsidiary, and we are developing SNS marketing business in six countries in Southeast Asia, mainly Thailand. In addition, we are actively implementing marketing measures in Southeast Asia by collaborating with other companies and leveraging our group’s strengths.Recently, we have implemented the following measures and have received a favorable response.
– TASTE FOOD JAPAN SDN, a joint venture in which our company invests. Start of “trial store opening service” for Japanese restaurant operators in Malaysia provided by BHD.
(Accomplishments: “Legendary Sutadonya”, Toyama Black Ramen “Menya Iroha”) – At Asia’s largest Japanese culture festival held in Thailand, Thai participants and Japanese VTubers participated in MR (Mixed Reality)
*1) In collaboration with ABAL, we will be exhibiting an experience booth where you can interact using the technology.
– Implementation of Fam Trip*2 measures by DTK AD to attract inbound tourists to Japan (Result: Niigata Inbound Promotion Council) For details, please see each news release from -References- below. In order to promote these activities, we have determined that a comprehensive base covering all of Southeast Asia is necessary and decided to establish the Malaysian corporation. We will continue to aim for further business expansion.
*Malaysia has high economic growth potential and the advertising market in Southeast Asia is expected to grow rapidly*
The gross domestic product (GDP) growth rate for the first quarter (January to March) of 2024 announced by the Malaysian government and central bank was 4.2% compared to the same period last year, exceeding market expectations and remaining at a high level. *3
In addition, the advertising market size in Southeast Asia is estimated to be USD 24.59 billion in 2024 and is projected to reach USD 50.12 billion in 2029. The average annual growth rate (CAGR) for the predicted period is 15.30%, which is expected to be nearly twice as high in five years. ※Four
* Overview of Malaysian subsidiary *
Business name: Lovable Marketing Group Asia Sdn. Bhd.
Establishment date: June 1, 2024
Representative: Masayuki Hayashi
*1 MR (Mixed Reality): “Mixed
Reality (mixed reality), which refers to a technology in which MR goggles recognize the shape of real space (spatial mapping) and project a hologram, which is a virtual object, onto a display to visualize it in real space.
*2 Fam Trip: “Familiarization Trip”
Abbreviation for “Trip”. A promotional measure aimed at attracting tourism, etc., by inviting foreign travel agents, influencers, writers, and the media to visit local governments, etc., and communicate the appeal of the visited destinations in the form of articles, videos, and social media posts.
*3 BANK NEGARA MALAYSIA: * https://www.bnm.gov.my/-/qb24q1_en_pr*
*4 MordorIntelligence: Southeast Asia advertising market size and trend stock analysis – growth trends and growth trend forecasts (2024-2029)
”
-reference-
TASTE FOOD JAPAN SDN. is a joint venture that supports the expansion of Japanese restaurants into Malaysia.
Invested in “BHD.” ~ We aim to further popularize Japanese food by promoting the development of “trial store opening service” in Malaysia ~
Our subsidiary Comunico and DTK AD will collaborate on ABAL’s exhibition at “JAPAN EXPO THAILAND 2024”
[Fam trip example: DTK AD] We implemented fam trip measures for the Niigata Inbound Promotion Council to attract inbound tourists.
* About Loveable Marketing Group Co., Ltd. *
With the purpose of “empathizing with people and the earth,” Lovable We are a marketing company group that promotes marketing. With the group mission of “creating the most loved marketing group,” we are developing our business with a focus on the marketing operations field.
URL: https://lmg.co.jp/
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