Nakayama Corp. to Start Nonferrous Trading in Shanghai

Tokyo based nonferrous metal distributor, Nakayama Corporation starts operation of the new subsidiary in Shanghai in June. The subsidiary located in outside of bond area can sell to local users directly and make settlement in yuan. The first Japanese nonferrous distributor in China will expand trading with growing Chinese users. The subsidiary got official commercial license at the end of April and already made payment of US$ 200,000 of capital in May. The firm starts the commercial operation in June after the firm gets tax payer’s status for value added tax. The firm sells metal products including rolled copper, aluminium, stainless and free cutting steel bar for local operations of Japanese users and Chinese local users. The firm plans to build deposit yard near Shanghai to sell materials from inventory. The firm is wholly owned subsidiary of Nakayama Corporation. The parent firm has 4 offshore subsidiaries and 3 in China.