With a history in Thailand of over 100 years, Mitsui & Co has been a significant contributor to the growth of the modern kingdom. Today, the company manages over 115 joint ventures in a variety of Thailand’s key industries.

Challenging times have brought both strength and creativity to this sogo shosha – taking the lead among other giant Japanese trading firms who have set up shop in Thailand. “Trading companies are now having a difficult time surviving,” says Hiroo Sutoh, president of Mitsui & Co in Thailand and former president of the Japanese Chamber of Commerce in the country. “Our competitors are merging and reorganizing. We have encountered many challenges in Asia, including the financial crisis. But these experiences became our assets. Fortunately, with the integrity and experience of the company, we are very much alive and well.”

Hiroo Sutoh, president of Mitsui & Co. in Thailand

Mitsui & Co.'s business in Thailand covers a broad range of sectors. Recently, however, Mitsui’s strategy has shifted into concentrating on specialized areas such as petrochemicals, steel and food as well as machinery involving communications, information technology and automobiles. These are the sectors that Sutoh sees Mitsui can dominate and in which it can further build its Thai network.

He believes the trading houses will continue to be instrumental in promoting partnerships, while they increasingly evolve into entities with more comprehensive roles. “We now call ourselves a total solutions provider, having accumulated know-how in many areas of business operation,” he explains. “Our expertise in finance, accounting, logistics and a combination of these actions gives us a creative function – enabling us to give customers the help and assistance they need.”

Mitsui & Co. in Thailand is one of the most important subsidiaries in the region for the Japanese group. Sutoh thinks all the credit be given to the Thai people. “We like to focus where Thailand has its strengths,” he explains, “its wealth of natural resources and talented people. Everybody says China offers lower wages, but Thailand is very competitive because their workforce has a high level of skills, knowledge, education and training. We want Thailand to always be ahead of China and not merely compete with it. If we can facilitate this shift, Thailand will remain a strong economy, and this will enable the country to further cooperate with China and Japan.”

He concludes, “We would like to create more opportunities for the Thai people.” “In order for them be competitive globally, there is a need to shift from labor intensive to knowledge intensive work. Thailand is making that shift now to adapt to its growth. As a company, we will do what we can to accelerate this process so Thailand can succeed. The country’s success is ours too.”

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