SLI Systems opens Japan office
NZX-listed software firm SLI Systems has opened an office in Japan to accelerate its push into the country, which it described as the world's second-largest e-commerce market.
Christchurch-based SLI develops search tools for online businesses, such as retailers, that help their visitors find information on the businesses' websites.
It already has three customers in Japan, out of its total of about 500 customers, and signalled in its 2013 prospectus that it would establish a permanent presence there.
Its office in Tokyo's Shibuya retail precinct will be headed by Ryo Hayashi, who was in charge of developing the Japanese business of Californian-based comparison-shopping service Nextag.
SLI chief executive Shaun Ryan said the company expected to unveil a new search product in about a month.
The product, which was being trialled by some customers, was "very related" to but not a replacement for its existing product range, he said.
"Apart from that, we are just focusing on building out the company and our customer base," he said.
SLI's shares have risen 72 per cent since they were offered at $1.50 a share through its initial public offer last May.
The company is valued on the NZX at $155 million.
- Fairfax Media