Asia-Pacific (APAC) countries such as China, India, Australia, Japan, and South Korea featured prominently within the filings of North America-headquartered companies throughout the second quarter (Q2) of 2023. Other key countries that also found substantial mentions include the UK, Brazil, Germany, Russia, and Ukraine, reveals the Company Filing Analytics Database of GlobalData, a leading data analytics company.
GlobalData’s “Company Filings Analytics Trends & Signals Q2 2023” report reveals that the mentions around all the five APAC countries increased year-on-year (YoY) during Q2 2023. Similarly, the mentions of the UK, Brazil, and Germany increased while Russia and Ukraine dropped.
Misa Singh, Business Fundamentals Analyst at GlobalData, comments: “North American companies seem to consider the APAC region and more specifically the emerging markets of the region such as China and India as potential destinations for their business expansion strategies. Companies are increasingly investing in the APAC region to enhance R&D capabilities and build new facilities. North American companies are also building strategic supplier partnerships to strengthen supply chain. Meanwhile, Europe also forms a key part of their global expansion strategy.”
Micron Technology Inc announced an investment of $600 million in the coming years to expand operations in Xi’an city of China. The company plans to set up a new building to add more product capacity. Additionally, the company plans to introduce EUV technology to its fab in Hiroshima, Japan. It aims to become the first company to bring EUV technology to Japan.
Sanmina Corp established a joint venture with a fully owned subsidiary of Reliance Industries Limited in the first quarter of 2023 to develop a premier electronic manufacturing hub in India. Papa John’s International Inc sees India as an attractive market and in April 2023 announced plans to establish 650 new restaurants by 2033.
Xometry Inc invested $1 million to support growth in the UK and launch Turkey’s localized marketplace. The company believes these investments will result in the long-term, robust global growth. Thryv Holdings Inc, later this year (2023) plans to launch a marketing center in Australia to increase the value of SaaS clients and raise the total recurring revenue from customers.
Singh adds: “The mentions of Russia and Ukraine have declined as companies seek to minimize their market exposure due to the ongoing conflict in the region. While some multinational companies have exited or plan to exit Russia due to sanctions, some companies have temporarily suspended operations in Ukraine due to safety concerns.”
For instance, Yum! Brands, Inc. sold its KFC business in Russia in April 2023. McCormick & Co Inc announced temporary cessation and in some cases reduction in the level of its business operations in certain parts of Ukraine.
Singh concludes: “In an ever-evolving global marketplace, the insights from GlobalData’s ‘Company Filings Analytics Trends & Signals Q2 2023’ report highlight how companies strategically pivot to adapt, innovate, and thrive in a dynamic and complex global business landscape.”
