TEXT: It is with great pleasure for me to extend my heartfelt congratulations to the people of Pakistan and Japan to commemorate the 70th anniversary of Pakistan-Japan relations.
Over the last 70 years of friendship between Pakistan and Japan has flourished effectively, where Pakistan’s drive for economic development and Japan’s endeavors for economic progress has brought the two countries to a common platform.
Pakistan and Japan entered into a progressive partnership soon after World War II which ended in 1945 with Japan having suffered a major setback to its economy, while Pakistan had emerged as an independent nation in 1947. Diplomatic relations between the two countries were established in 1952 but the interaction between them had started much earlier.
In the present day, the trade with Japan stands at more than 2 Billion USD (2018) making Japan one of the major trade partners for Pakistan. Currently, there are over 85 Japanese Companies now operating in Pakistan providing employment to over ten thousand and helping the government exchequer annually with over 60 Billion Rupees in taxes (*Source PJBF & MOFA Japan).
Idemitsu believes that Pakistan offers immense opportunities for trade and investment. As an energy company, Idemitsu believes that with the population of over 250 million, energy resources & vision of infrastructure for developm ent of this part of the world, Pakistan has a great potential for growth. As we provide quality lubricants for the automotive, industrial and agricultural industries, Idemitsu hopes to play a large role in contributing to the benefit of Pakistan society and the further strengthening of Pakistan-Japan relations
COMPANY PROFILE
Idemitsu Lube Pakistan’s Parent Company, Idemitsu Kosan, was founded 110 years ago in 1911, starting in the lubricants business, but has now grown to become a total energy company. Idemitsu is active in oil exploration, crude oil refining, and marketing of fuel and oil products, as well as areas where you would not even guess such as agri-bio products for the agricultural industry to OLED materials used in digital screens that people use in everyday life.
Idemitsu believes in making the world a better place for all human beings and invests heavily in renewable energies such as solar and geothermal power to try to achieve a Carbon Neutral Society.
Idemitsu Lube Pakistan was established in December of 2018, however, they have been doing business here since 2010, looking after the business first from their affiliate in Singapore, then shifting to Dubai, before setting up operations in Karachi in 2018.
Pakistan appealed to Idemitsu first because of the vast potential that the population of over 200 million people hold, and second because of the warm relations between Pakistan and Japan and the way that Japanese goods and technology are well respected in Pakistan.
With these factors as Idemitsu’s starting point, their initial focus was on the supply to automotive car manufacturers. Idemitsu is currently the biggest supplier of automotive genuine oil for Japanese OEMs in Pakistan. Idemitsu manufacture automotive lubricants using their technology approved by the OEMs, and market the products under the OEMs names. That is why one does not see Idemitsu’s name in the market, as they market the products under their customers’ names.
However, in the very near future, Idemitsu’s next step will be to manufacture and sell products under their own Idemitsu Brand name, starting from automotive lubricants, followed by motorcycle engine oil.
Idemitsu’s Brand Purpose is:
Our Passion for motion creates harmony. Through Tribology - the science of lubrication, Idemitsu drives the innovation of technology to lead the future with our partners.
Idemitsu is aiming to add value to the lives of Pakistani people through their eco-friendly products and business approach of knowledge sharing. Idemitsu will implement its Corporate Social Responsibility practices in Pakistan through identifying the needs of the public and addressing them through their business practices to create value for Pakistan.
Ryota Takizawa
President & CEO Idemitsu Lube Pakistan (Pvt) Ltd
Copyright Business Recorder, 2022
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