TOKYO: Business Wire has opened an office in Japan, becoming the sole US-based newswire to have a direct presence in the country.
Business Wire Japan will eventually serve as a hub for a network of satellite sales offices in the Asia-Pacific region.
"We feel confident to open a full-service operation," said Gregg Castano, SVP of global sales. "Japan is an untapped market for the news distribution business."
Neil Hershberg, VP of global media, said the strength of the Japanese marketplace played a role in the decision.
"People overlook that Japan is the second-largest economic power," he said, adding that the nation is finally starting to come out of a decade-long recession. "This is a good time to get in."
The staff for Business Wire Japan came from Adex, a Japanese company that had licensed Business Wire's name for two decades. It currently comprises five editors and salespeople but should double within the coming months.
Kazuhiro Nakazwa has been appointed country manager for Business Wire Japan. He will report to Kevin Chiew, Business Wire's director of Asia development.