Latest news with #SACO
Argaam
18-05-2025
- Business
- Argaam
SACO shareholders approve dividend freeze for 2024
Saudi Company for Hardware's (SACO) shareholders approved the board of directors' recommendation to withhold cash dividend for 2024 during the ordinary general meeting (OGM) held May 15, according to statement to Tadawul. Shareholders further approved authorizing the board to distribute interim dividends on a semi-annual or quarterly basis for 2025.
Asahi Shimbun
08-05-2025
- Politics
- Asahi Shimbun
End of an era: Japan-U.S. policy expert Nye dead at 88
Joseph Nye, an international political scientist who was deeply involved in U.S. policy toward Japan, died on May 6. He was 88. Harvard University, where Nye was a distinguished service professor emeritus, announced his passing. Nye served as assistant secretary of defense for U.S. President Bill Clinton's administration from 1994 to 1995, leading the post-Cold War redefinement of the Japan-U.S. security treaty. After the end of the Cold War, Japan and the United States were confronted with the fundamental question of the purpose of an alliance based on the security treaty. Against this backdrop, he compiled the East Asia Strategic Report in 1995. It is also known by its moniker of the "Nye Report." In it, he emphasized the maintaining of 100,000 U.S. troops in East Asia, taking into account U.S. economic interests. Nye also stressed the importance of the Japan-U.S. alliance in upholding the stability of the Asian region, saying that there is no bilateral relationship more important for the United States than its relationship with Japan. This led Prime Minister Ryutaro Hashimoto and Clinton to confirm the Japan-U.S. Joint Declaration on Security. The 1996 agreement ensured that Japan-U.S. cooperation would remain the foundation of peace and stability in the Asia-Pacific region into the 21st century. Nye was also involved in the establishment of the Japan-U.S. Special Action Committee on Okinawa (SACO), which discussed the consolidation and downsizing of U.S. military bases. The talks were in response to three U.S. servicemen stationed in Okinawa sexually assaulting a schoolgirl in 1995. Even after leaving office, Nye had called for strengthening the U.S.-Japan alliance. In 2000, he and Richard Armitage, who later served as President George W. Bush's deputy secretary of state, released the Armitage-Nye Report that served as a U.S. policy document about Japan. The report noted that Japan's prohibition on exercising the right of collective self-defense had been a constraint in advancing the partnership between the two nations. This was the origin of the subsequent strengthening of the Japan-U.S. alliance and Japan's security policy. Up until last year, a total of six editions of the report has been published. Armitage died on April 13 at the age of 79. Some believe that the loss of two leading figures in the Japan-U.S. intellectual community symbolizes the end of an era in the Japan-U.S. relationship. Nobumasa Akiyama, professor of international politics at Hitotsubashi University, said the trajectory of deepening of the Japan-U.S. alliance cannot be described without noting Nye's contributions. 'With his warm personality, Nye's career also served as a model for many scholars of international politics who aspire to be successful in both the academic and policy communities,' Akiyama said. 'As Japan-U.S. relations are in a state of flux under the Trump administration, the passing of Nye, following Armitage, seems to suggest, albeit coincidentally, a new era in the Japan-U.S. alliance.' (This article was compiled from reports written by correspondents Daisuke Nakai and Ryo Kiyomiya.)
Arabian Post
06-05-2025
- Business
- Arabian Post
Panasonic Partners with SACO to Strengthen Retail Experience in Saudi Arabia
Panasonic Marketing Middle East and Africa has entered into a strategic partnership with Saudi Company for Hardware , a leading retailer in Saudi Arabia, to revolutionise the retail experience for customers in the Kingdom. This move marks a significant shift in the retail and electronics sectors, directly aligning one of Japan's biggest manufacturers with a key local distributor, reshaping supply chains and enhancing customer engagement. The collaboration between Panasonic and SACO will introduce a direct supply model, which aims to streamline product availability and improve service efficiency. By working closely together, the two companies will ensure a smoother, faster product distribution system, ultimately benefiting consumers with quicker access to Panasonic's wide range of electronics and home appliances. SACO's established retail network and expertise in the local market provide Panasonic with the necessary infrastructure to reach a broader audience while maintaining the highest service standards. As part of the partnership, SACO will become Panasonic's exclusive retail distributor for several product categories, including air conditioners, home appliances, and consumer electronics. The deal is expected to strengthen Panasonic's presence in Saudi Arabia, which is one of the Middle East's largest and most lucrative consumer markets. Both companies are focusing on providing customers with an enhanced shopping experience by offering a range of cutting-edge technologies and products, with a focus on energy-efficient and environmentally friendly solutions. The collaboration is also set to create a seamless integration of Panasonic's products into SACO's expansive network of stores across the Kingdom. With a deep understanding of the Saudi consumer landscape, SACO is well-positioned to promote Panasonic's products effectively while ensuring that they meet the local market's unique needs and preferences. SACO's strategic locations across major cities in Saudi Arabia will provide Panasonic with an enhanced retail footprint, allowing it to tap into new demographics and increase brand recognition. The partnership comes at a time when Saudi Arabia's retail and electronics sectors are experiencing substantial growth, driven by a youthful population, rising disposable incomes, and increased consumer demand for high-quality home electronics. This trend is further supported by the Saudi Vision 2030 initiative, which aims to diversify the economy and reduce its reliance on oil exports. As part of this vision, the Kingdom is increasingly focusing on expanding its non-oil sectors, with retail and consumer electronics being key growth areas. Panasonic's commitment to sustainability aligns with the growing demand for energy-efficient products in the Kingdom. In response to this demand, the company plans to introduce a range of environmentally conscious solutions, such as energy-saving home appliances and air conditioning systems, designed to meet Saudi Arabia's strict energy regulations. These products are expected to resonate well with consumers who are becoming more environmentally aware and seek to reduce their carbon footprints while maintaining high standards of comfort and quality. Through this collaboration, Panasonic also aims to strengthen its after-sales service network in Saudi Arabia. The partnership will facilitate the creation of dedicated service centres, staffed by highly trained technicians who can provide maintenance and repair services for Panasonic products. This move is designed to enhance customer satisfaction, ensuring that consumers receive comprehensive support throughout the life cycle of their purchased products. Panasonic's reputation for high-quality manufacturing and reliability will be further bolstered by SACO's robust service infrastructure. The partnership is expected to play a pivotal role in transforming the electronics retail sector in Saudi Arabia. By leveraging SACO's local expertise and Panasonic's global brand strength, the companies aim to offer a unique value proposition to consumers. Shoppers will benefit from a more integrated shopping experience, including access to the latest Panasonic products, expert advice, and convenient after-sales support. Furthermore, the collaboration is likely to spark more innovation in the retail sector, as other manufacturers may look to follow suit and form similar partnerships with local distributors to enhance their market presence. See also Foreign Investors Flock to Gulf Markets Amid Economic Reforms As the Kingdom continues to prioritise economic diversification and digital transformation under Saudi Vision 2030, the collaboration between Panasonic and SACO represents a significant step in aligning global brands with local expertise. By directly addressing consumer needs and preferences, the partnership is well-positioned to drive further growth in the Kingdom's electronics and retail sectors, supporting the wider goal of modernising the economy and improving the quality of life for Saudi citizens.
Zawya
05-05-2025
- Business
- Zawya
Panasonic forges retail partnership with SACO to enhance customer experience in Saudi Arabia
Panasonic bats for enhanced service and supply efficiency by collaborating with Saudi Company for Hardware (SACO) Riyadh, Saudi Arabia: Panasonic Marketing Middle East and Africa (PMMAF) has revealed a groundbreaking strategic partnership with Saudi Company for Hardware (SACO), KSA's premier electronics and lifestyle retail distributor. This collaboration marks a significant evolution in the Kingdom's retail and electronics sectors, as it pioneers a direct supply model in the Saudi market, aligning a major international manufacturer directly with a leading national retailer. The partnership is also strategically designed to redefine how Saudi customers access and experience Panasonic's innovative products, bringing them closer to consumers through SACO's extensive network of retail locations across the Kingdom. The partnership was formalized in a signing ceremony held recently in Riyadh, attended by Hiroyuki Shibutani, CEO of PMMAF; John Hardy, COO of PMMAF; Abdel-Salam Bdeir, CEO of SACO; and, Makram Malaeb, COO of SACO. This step underscores Panasonic's strong and growing commitment to the local market. Moreover, it builds upon Panasonic's recent inauguration of its regional office in Riyadh, which is seen as a strategic investment aimed at fostering closer connections with local consumers and strengthening relationships within the Saudi ecosystem. The partnership with SACO further solidifies Panasonic's long-term vision and growth strategy for the region. It enables the group to deliver a unique value proposition to Saudi customers though one of the biggest networks in the kingdom. 'This strategic alignment allows us to cater to the unique needs of the Saudi market through SACO's extensive retail network,' Shibutani commented. 'SACO is recognized as a retail powerhouse in the Kingdom, and we are confident that through this collaboration, we have better opportunities to showcase the full spectrum of Panasonic's cutting-edge consumer electronics and elevate the shopping experience for our Saudi customers, building upon our growing presence in the region.' By combining Panasonic's renowned technological expertise and its diverse range of consumer electronics with SACO's deep-rooted understanding of Saudi consumer behavior and its expansive retail footprint, this partnership promises to deliver elevated and locally relevant product offerings and customer experiences. Together, the two companies will create unique in-store environments tailored to the preferences of Saudi consumers. Expressing SACO's enthusiasm for the business alliance, Mr. Bdeir, CEO of SACO said: 'Partnering directly with a global leader like Panasonic will enable us to provide our customers with an even wider selection of cutting-edge electronics, and a more seamless shopping experience. Together, we will strive to drive mutual success and showcase our shared ambition for excellence.' This alliance transcends a traditional commercial agreement, representing a shared commitment to co-develop innovative retail experiences, gain deeper insights into local needs, and shape the future of the consumer electronics market in Saudi Arabia. Panasonic and SACO are poised to establish a new standard for collaboration between manufacturers and retailers in the Middle East.
Web Release
05-05-2025
- Business
- Web Release
Panasonic Forges Retail Partnership with SACO to Enhance Customer Experience in Saudi Arabia
Panasonic Marketing Middle East and Africa (PMMAF) has revealed a groundbreaking strategic partnership with Saudi Company for Hardware (SACO), KSA's premier electronics and lifestyle retail distributor. This collaboration marks a significant evolution in the Kingdom's retail and electronics sectors, as it pioneers a direct supply model in the Saudi market, aligning a major international manufacturer directly with a leading national retailer. The partnership is also strategically designed to redefine how Saudi customers access and experience Panasonic's innovative products, bringing them closer to consumers through SACO's extensive network of retail locations across the Kingdom. The partnership was formalized in a signing ceremony held recently in Riyadh, attended by Hiroyuki Shibutani, CEO of PMMAF; John Hardy, COO of PMMAF; Abdel-Salam Bdeir, CEO of SACO; and, Makram Malaeb, COO of SACO. This step underscores Panasonic's strong and growing commitment to the local market. Moreover, it builds upon Panasonic's recent inauguration of its regional office in Riyadh, which is seen as a strategic investment aimed at fostering closer connections with local consumers and strengthening relationships within the Saudi ecosystem. The partnership with SACO further solidifies Panasonic's long-term vision and growth strategy for the region. It enables the group to deliver a unique value proposition to Saudi customers though one of the biggest networks in the kingdom. 'This strategic alignment allows us to cater to the unique needs of the Saudi market through SACO's extensive retail network,' Shibutani commented. 'SACO is recognized as a retail powerhouse in the Kingdom, and we are confident that through this collaboration, we have better opportunities to showcase the full spectrum of Panasonic's cutting-edge consumer electronics and elevate the shopping experience for our Saudi customers, building upon our growing presence in the region.' By combining Panasonic's renowned technological expertise and its diverse range of consumer electronics with SACO's deep-rooted understanding of Saudi consumer behavior and its expansive retail footprint, this partnership promises to deliver elevated and locally relevant product offerings and customer experiences. Together, the two companies will create unique in-store environments tailored to the preferences of Saudi consumers. Expressing SACO's enthusiasm for the business alliance, Mr. Bdeir, CEO of SACO said: 'Partnering directly with a global leader like Panasonic will enable us to provide our customers with an even wider selection of cutting-edge electronics, and a more seamless shopping experience. Together, we will strive to drive mutual success and showcase our shared ambition for excellence.' This alliance transcends a traditional commercial agreement, representing a shared commitment to co-develop innovative retail experiences, gain deeper insights into local needs, and shape the future of the consumer electronics market in Saudi Arabia. Panasonic and SACO are poised to establish a new standard for collaboration between manufacturers and retailers in the Middle East.
