Pegasus Sewing Machine Mfg. Co., Ltd. is enjoying a steadily increasing business performance with strong overseas sales of chain-stitching sewing machines. As of this February, the sales volume is particularly significant for Bangladesh and India, supported by vigorous demand for application in T-shirts, poloshirts and other cut and sewn articles.
Pegasus is also expanding its market share in Sri Lanka, Indonesia and Vietnam. According to the company, an important factor for expanding overseas sales is increasing sales to Bangladesh and India.
The Dhaka terrorist attack in July 2016 raised again security issues, but the impact has been limited. Bangladesh has many advantages as a garment manufacturing base, such as an abundant labor force and production cost reduction effects, and the advancement of foreign apparel firms to the country and vigorous capital investments including the installation of more sewing machines continue to be active. Japanese sewing machine makers are known for their high quality not only among Japanese companies but also among local enterprises, and general purpose machines as well as higher value-added and high-performance machines are in demand.
Sales to China remain flat. As a result of the relocation of garment factories to Southeast Asia, differentiation among Mainland Chinese garment makers has become important, and this is increasing demand for high-end machines.
Sales in Africa are being developed as a new priority market, and the company is in the process of gathering information.
Sales of sewing machines in Japan account for about 5% of its sales, but sales to Japanese garment factories continue to be severe. On the other hand, sales are strong to factories producing automotive interior goods, sportswear, innerwear and school wear.