(Alliance News) - Fope Spa announced Thursday that it has established FOPE Japan GK, based in Tokyo and operating for business development in the Japanese market.

FOPE Japan is 80 percent owned by FOPE and 20 percent owned by SwissPrimeBrands Ltd, the group's partner that has been responsible for the distribution of FOPE products in Japan to date.

"The further strengthening of the presence in foreign markets is part of the policy pursued in recent years by the group of direct commercial presidium of areas considered strategic, as in the case of Japan, which represents for Fope an emerging market with important growth potential," as the company explained in a note.

Fope trades up 2.3 percent at EUR27.00 per share.

By Claudia Cavaliere, Alliance News reporter

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