Stock jumps as Fingerprint Cards opens Tokyo office
Fingerprint Cards (FPC) has opened its first sales and support office in Tokyo as the company looks to establish a presence in Asia, following a successful 2012 in the continent.
According to the company, Japan represents a very important market for FPC’s mobile efforts. As reported previously in BiometricUpdate.com, the company saw great success in Japan during the end of 2012, reporting three significant design wins for mobile devices.
Early this morning, upon news of FPC’s Japanese expansion, the company’s share price rose to its highest level in more than five years. According to a report in Bloomberg “the stock was up 10 percent as of 10:31 a.m. local time, valuing the company at 701 million kronor ($USD 16.5 million).”
Bloomberg also reports that FPC generated 99 percent of its sales in Asia last year and forecasted full-year sales of between USD$20 million and USD$30 million in late November, compared with USD$10.6 million in 2011.
The company is also announcing a significant appointment this morning for its senior technical manager position. Tan Yuedong, who will lead the technical support team from the new Tokyo office, has a background in telecommunications and IT and joins FPC from ST-Ericsson where he worked as Senior Application Engineer.
“By opening a sales-and support office in Tokyo and by hiring Tan Yuedong, FPC will quickly and efficiently be able to help Japanese customers who have chosen to integrate FPC’s technology,” Johan Carlström, President and CEO of FPC said. “The Japanese mobile phone market which has for a long time been a technological forefront is currently one of the most important biometric solutions markets globally. FPC’s strong product portfolio together with Tan’s experience and expertise will further enhance our possibilities and position in the advanced Japanese market.”