Many companies in Thailand are looking to build projects dedicated to the elderly as the country’s population is ageing rapidly. Japan’s Toyota Group subsidiary, Toyota Tsusho Thailand Co, announced plans to develop a mixed-use complex that caters to the needs of older residents and is currently looking for a local partner, reports local media.
Toyota is familiar with how to develop projects for the elderly, as there is a rapidly aging society in Japan as well that has forced them to create innovative products and services designed exclusively for older residents. The new development in Thailand will feature serviced apartments, a clinic or a hospital.
A location for the project has not been selected, but the company wants it to be built in Bangkok. Toyota Tsusho Thailand will present its plans for the development to its parent company in the near future in order to get the green light. Toyota Tsusho Thailand is familiar with Thailand and has its hand in several trading businesses focusing on heavy industries. The company, which has been operating for 60 years, has metals, chemicals, electronics, and machinery operations.
“We see business opportunities to expand into consumer products because Thai people seem increasingly welcome to Japan in every regard, from food to culture. Japan is also one of the most popular tourist destinations for Thais,” says Toyota Tsusho Thailand President Kiyoyoshi Oba to the Bangkok Post.
The project is still in the planning phase as the company has not yet found a partner to help develop the site. Toyota Tsusho Thailand is also searching for another Japanese partner to provide technical support as well as facilities that help seniors enjoy a better life. Toyota Tsusho will manage the new project.
In addition to the elderly residential facility, Toyota Tsusho Thailand wants to diversify into consumer products in 2018 to help the company create sustainable growth.
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