Japan’s Wash House to create Chinese joint venture
Wash House Co., a Japanese remotely monitored self-service laundry operator, will set up its first joint venture in China to develop co-operated laundry machines in a bid to grow the undeveloped market.
The joint venture, Washhouse (Shandong) Co., will be founded by December in Qingdao in Shandong’s eastern province with 10 million yuan capital (154.43 million yuan; $1.42 million). According to a company statement released last Friday, Wash House will hold a 60% stake, with the remainder held by a subsidiary of the Chinese home appliance manufacturer Shandong Xiaoya Group.
The company, based in Miyazaki City, is considering setting up another local arm to start a self-service laundry business as early as 2020, while Washhouse (Shandong) will focus on machine development, a spokesman for the Wash House said Monday.
The company hopes to attract customers in a world where the industry has just arisen and is expected to grow by encouraging the convenience of co-operated laundries.
In June, Wash House opened its first centre overseas in Thailand. As of October, 609 laundries were operated in Japan.