Tokyo, July 31, 2008 (Jiji Press) - Nikon Corp. <7731> said Thursday it has set up a unit in Moscow to strengthen sales of digital cameras and other imaging products in Russia.
Capitalized at 45.5 million rubles, the new unit, Nikon (Russia) LLC, has already launched operations with a staff of about 30, Nikon said.
Nikon hopes that the subsidiary will generate sales of 30 billion yen in 2011.
The move came as demand for digital cameras is rapidly growing in the Russian market on the back of the country's strong economic growth.
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