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$Unique_ID{bob00183}
$Pretitle{}
$Title{Denmark
Industrial Relations in Denmark}
$Subtitle{}
$Author{Embassy of Denmark, Washington DC}
$Affiliation{Embassy of Denmark, Washington DC}
$Subject{income
tax
denmark
danish
taxes
company
percent
companies
corporate
labor
see
tables
}
$Date{1990}
$Log{See Table 8.*0018301.tab
See Table 9.*0018302.tab
See Table 10.*0018303.tab
See Table 11.*0018304.tab
See Table 12.*0018305.tab
See Table 13.*0018306.tab
See Table 14.*0018307.tab
}
Title: Denmark
Book: Selected Information on Doing Business in Denmark
Author: Embassy of Denmark, Washington DC
Affiliation: Embassy of Denmark, Washington DC
Date: 1990
Industrial Relations in Denmark
Industrial relations in Denmark are highly organized with trade unions
and employers' associations representing the interests of their respective
constituencies in a constant dialogue based on mutual respect and
understanding. Industrial relations are managed through free negotiations
between the parties involved.
Wages and working conditions are laid down in collective agreements
between the trade unions and the employers' associations. The agreements which
are usually concluded for biennial periods also cover areas such as working
hours, protection against unfair dismissal or dismissal without proper notice.
During the term of the contract, the two sides are under an obligation to
maintain peace and stability in the conduct of the work. As a consequence the
Danish industrial environment is almost strike free when collective labor
agreements are in force.
A. Labor and Management Organizations
1. Trade Unions
More than 80% of all wage-earners, including virtually all blue collar
workers and government employees, are members of a trade union.
Most trade unions are affiliated with the Danish Federation of Trade
Unions (LO). At present LO has 30 affiliated unions with 1.4 million members
organized in 1,371 local branches. The largest of these unions are the
following:
- The National Union of General Workers (SID) with four chapters
covering manufacturing, construction, transport and agriculture; membership
320,000.
- The National Shop and Office Workers Union (HK); membership 315,000.
- The National Union of Metal Workers (including mechanics), membership
140,000.
- The National Union of Municipal Workers; membership 120,000.
- The National Union of Female Workers; membership 100,000.
Other important trade union federations are:
- The Salaried Employees' and Civil Servants' Confederation (FTF);
membership 360,000.
- The Confederation of Professional Associations (AC); membership
140,000.
2. Employer Associations
The Danish Employers' Confederation (DA) is the central organization of
the private employers' associations and federations in industry, construction,
crafts, commerce, and transport. There are 150 employers' associations and 41
individual companies affiliated with DA, which in total comprises 25,000
member companies employing 600,000 people, of which 300,000 are blue collar
workers.
The five biggest employers' associations are the following:
- Danish Industries Employment Federation-formerly the Federation of
Danish Mechanical, Engineering and Metal-Working Industries (JERNET) and
Association of Employers of the General Danish Industries (Industrifagene);
membership 4,600 companies.
- Danish Contractors' Association; membership 933 companies.
- The Commercial and Office Employers' Association (BKA); membership
3,800 companies employing 72,000 people.
- The Federation of Employers in Trade, Transport, and Services;
membership 1,400 companies.
B. Contract Agreements
1. Collective Bargaining
The negotiations about the renewal of labor contracts which normally take
place every second year follow a fixed pattern and procedure. Usually, the
first step taken by the main labor management organizations is to decide
whether the negotiations shall follow a centralized or decentralized pattern.
In recent years the trend has been moving towards a more decentralized
decision-making process with the individual unions negotiating their special
claims (including wages) directly with their employers and the LO negotiating
the general claims (e.g., working hours, paid training, and such) with the DA.
Negotiations must be completed within a certain time limit, but this
limit may be extended. If agreement on a new contract cannot be reached,
further negotiations take place between the two parties with the assistance of
an independent arbitrator. If an agreement is reached, the result is submitted
to the members for approval. If the parties cannot reach an agreement, a first
notice concerning industrial action may be served. Industrial action does take
place unless the arbitrator decides to use his power to postpone it.
The arbitrator may enforce a maximum of two postponements, each covering
a period of 14 days. If an agreement is still not reached at the expiry of
these extension periods, industrial action is initiated.
In recent years, the government has intervened directly in the collective
bargaining process on several occasions following breakdowns in negotiations
between the trade unions and the employers. On these occasions the government
has resorted to specific legislation, usually based on the mediation formula
proposed by the independent arbitrator.
2. New Technology
With a view to facilitate the introduction of new technology into the
work place, the Danish Employers' Confederation and the Danish Federation of
Trade Unions signed a cooperation agreement in 1986 providing for prior
notification and consultation when the introduction of new technologies is
likely to affect the general structure of a company or an industry. This
agreement also calls for consultative committees in enterprises with 35 or
more employees. As a matter of general policy, the Danish labor movement
recognizes that the utilization and development of new technologies are vital
for the competitiveness of Danish goods, both at home and abroad, and
consequently of paramount importance for employment, the working environment
and job satisfaction.
3. Labor Disputes
Disagreements concerning the interpretation of a labor agreement are
normally sorted out through negotiations between the parties directly involved
at the local level. If these negotiations prove unsuccessful, the parties may
request the assistance of mediators from their respective main organizations.
If these mediation efforts fail to produce a positive result, either party may
request that the case be referred to a conciliation committee consisting of
representatives of the main labor organizations. If the conciliation committee
fails to reconcile the parties, a last-ditch effort to reach an agreement is
made by the main organizations. Dismissal cases may be brought before a
special Dismissal Board, but the final recourse in all other cases is the
Labor Management Arbitration Board which consists of two representatives of
each side and an independent arbitrator who is either selected by the parties
or appointed by the Industrial Court. The decision reached by the Labor
Management Arbitration Board is final and binding for both parties.
The procedure followed in cases of breach of labor agreements or breach
or interpretation of the main collective labor agreements is similar to the
one described above. In the first instance, attempts are made to solve the
problems through mediation at the local level. If mediation fails, the case is
referred to the conciliation committee and from there to negotiations between
the main labor and management organizations. The last instance of appeal is
the Industrial Court which is a judiciary body established in accordance with
the Industrial Court Act. The Industrial Court operates in the same manner as
a normal court, but deals exclusively with issues related to collective labor
agreements and its members are elected by the trade unions, the employers'
organizations and various public authorities. The verdicts reached by the
Industrial Court are final and must be respected by both parties. The
sanctions applicable under the Industrial Court Act are exclusively fines.
Wage disputes within the framework of existing labor agreements are
handled in a way similar to the one which is applicable for legal conflicts.
In the first place, attempts are made to reach as amicable solution through
direct negotiations at the local level without or with mediation. If these
efforts fail to produce results, the matter is referred to the conciliation
committee whose decision is final and binding on both parties except in
disputes over piece work contracts rescinded by the employers. If the parties
cannot agree on new terms of piece work contracts, they may as a last recourse
take industrial action.
The mechanisms set up for the resolution of labor conflicts are
illustrated in figure 1.
As a consequence of the harmonious and business-like relations existing
between the trade unions and the employer organizations, industrial relations
in Denmark are characterized by peace and stability. The number of days lost
due to work stoppages resulting in more than 100 lost working days has over
the last decade been at an average below 0.1 percent of the total number of
days worked. With the exception of 1985, an average of less than 2 percent of
the total work force was affected by work stoppages in this period. In 1988
this percentage was as low as 1.05--the lowest level in the last 10 years.
Tables 6 and 7 present the historical and current perspectives of work-days
lost in Denmark due to labor disputes. Table 8 shows the comparison of
lost in Denmark with other OECD countries.
[See Table 8.: Work-days Lost Due to Labor Disputes Recent History]
[See Table 9.: Work-days Lost Due to Labor Disputes 1988, By Industry]
[See Table 10.: Work-days Lost due to Labor Disputes In Selected OECD
Countries]
RECRUITMENT PRACTICES IN DENMARK
Companies needing personnel in Denmark have a variety of recruitment
channels at their disposal. The most important of these are:
- Advertisements
- Informal networks
- Company waiting lists
- State job centers (AF)
- Recruitment consultants
- Trade unions
- Schools/Universities
Advertisements, informal communication networks are the most commonly
used means of getting in contact with prospective job candidates. Established
companies usually keep lists of persons who have shown an interest in getting
a job in the past and these waiting lists are used when vacancies are to be
filled. This recruitment practice is particularly important for recruitment of
blue-collar workers.
The Danish Employment Department (Arbejdsdirektoratet) operates 150 local
Job Centers (Arbejdsformidlingen, AF) where employers can get in contact with
job seekers of all educational backgrounds. With the use of their "AF Match"
computer database, these local Job Centers are able to identify job candidates
matching an employer's specific requirements. The services rendered by AF are
free of charge.
While the AF centers are generally used for the recruitment of blue
collar and clerical workers, personnel consultants are generally used for the
recruitment of managerial staff or technical experts. Some consultants offer
full-scale services for the recruitment of all types of workers. The fees
charged for services depend on the complexity and specifications of the
recruitment assignment. Others specialize in certain types of personnel only.
Business development authorities in local communities assist foreign
investors in their search for workers and staff. Their assistance is free of
charge.
A survey carried out by the Danish National Institute of Social Research
in 1987 revealed how a representative sample of 1,000 Danish industrial
companies handled the recruitment of their latest personnel addition. As shown
in Figure 2, in all categories of workers more than two-thirds of the new
hires were recruited through advertisements, informal networks, or waiting
lists. The latter accounted for 10-20 percent of new hires for blue-collar
workers, but less than 5 percent for white collar workers. The AF accounted
for 10-20 percent of new hires for blue-collar and clerical workers, and about
5 percent for salaried employees.
TAXATION IN DENMARK
The principal direct taxes in Denmark are the corporate income tax
(selskabsskat) which is levied on companies, and the national income tax
(stasskat), a county income tax (amtskommuneskat), a municipal income tax
(kommuneskat), and a special income tax (Saerligindkomstskat) which are levied
on individuals. The most important indirect tax is the value added tax
(mervaerdiafgift, or moms). Other taxes include social insurance contributions
by the employers and employees, AMBI, an employers' tax, a withholding tax
and dividends, net wealth tax (which is levied on individuals only),
inheritance and gift taxes, real estate taxes, and stamp duties. Resident
individuals who are members of the established church of Denmark are also
liable to a church tax.
A. Corporate Income Taxes
Companies registered in Denmark either as a Danish company or as a
Danish branch of a foreign company are liable to taxation.
A resident company is liable to corporate income tax on its worldwide
profits, subject to any modifications under a relevant double taxation
agreement. Any company incorporated in Denmark is considered to be resident
there. The principal corporate entities that are liable to corporate income
tax are the public limited company (Aktieselsab, A/S) and the private limited
company (Anpartsselskab, ApS).
A nonresident company is liable to corporate income tax only on business
income from a branch or other permanent establishment in Denmark, income from
real estate in Denmark, income derived from hiring out the company's employees
in Denmark that would be subject to personal income tax if earned by the
individuals themselves, and fees received for the leasing out of a business in
Denmark.
A nonresident company's Danish-source dividends and royalties are subject
to a withholding tax instead of corporate income tax. Interest payments
received by a nonresident company from Denmark are exempt from tax unless they
form an integral part of the business profits of its permanent establishment
there and are thus subject to corporate income tax. There are no withholding
taxes on branch profit remittances.
Resident companies and Danish branches of nonresident companies are
liable to corporate income tax at a flat rate of 40 percent. This rate applies
whether profits are distributed or not.
No local income taxes are levied on companies in Denmark. Instead the
municipality in which a company is established receives a portion of the
national corporate income tax paid to the state.
1. Taxable Income
Taxable income comprises gross income less the cost of earnings, securing
and maintaining it. The starting point for the determination of taxable income
is profit (or loss) of the company as stated in its annual statutory
financial statements.
- A previous year's inventory write-down is considered taxable income.
Inventories may be written down by the creation of a tax-free reserve. This
reserve may not exceed 30 percent of the total inventory valuation at the end
of the accounting year, although it may be at whatever lower rate that the
company chooses. The current year's write-down must be added to taxable income
in the following year, and is replaced by the following year's write-down.
- The tax treatment of dividend income received by a resident company
differs between shareholdings of less than 25 percent and those of 25 percent
or more.
- Gains realized by a company on the disposal of capital assets are dealt
with in a variety of ways for tax purposes, depending on the type of asset,
such as machinery and equipment, real estate, shares and intangible assets.
2. Deductions
Companies are entitled to make deductions for depreciation according to
the provisions in the Danish Depreciation Act. The permissible rate and
method of depreciation for tax purposes depends on the asset group being
depreciated The company must own the assets concerned and use them on a
commercial basis to generate income. Good will and land are not depreciable.
- Machinery and Equipment. Depreciation is calculated according to a
"balance-owing principle". The main rule is that up to 30 percent may be
written off each year. However, only 5/6 of the purchase price of new
acquisitions may be written off during a year. The depreciation rate for the
year's new acquisitions is therefore 25 percent.
The following example illustrates the calculation of depreciation:
[See Table 11.: Depreciation]
Assets that individually cost less than DKK 4,500 (about $640) (subject
to indexation) or have an expected life of less than three years may be fully
written off in the year acquisition.
- Buildings and installations. Buildings are depreciated individually,
not as a group. The basis for depreciation is the building's cash value,
subject to indexation.
- Intangibles. The straight-line method of depreciation is used to
depreciate intangibles. Patents and copyrights may be written off over their
effective lives.
- Research and Development. These costs may either be deducted in the
year in which they are incurred or depreciated over five years on a
straight-line basis. If research and development costs are incurred before
the company has started to receive revenues, the deduction may be taken or
depreciation may commence, in the year in which income first arises.
Advance depreciation may be claimed for buildings, machinery and
equipment for which a company has made definite commitments for the
construction of the buildings and production of machinery and equipment.
Other deductions include:
- Business expenses
- Interest paid to banks and other third parties
- Royalties, license fees and copyright fees
- Entertainment expenses
- Real estate taxes
- Bad debts written off and provisions against specific debts
- Contributions made by a company to the state pension plan
- Donations to charities and welfare institutions
- Exchanges losses relating to business activities.
3. Loss Carry Forward
A loss may be carried forward to be set off against profits carried in
the five years succeeding the year in which the loss arose. No carry-back is
permitted.
In general, losses by one company may not be carried forward by another
company following a merger.
4. Tax Relief Due To Tax Treaties
- Dividends - Dividends paid by a Danish resident subsidiary to its
foreign shareholders are subject to a 30 percent withholding tax. However, a
partial, or full dividend refund relief may be available by virtue of a tax
treaty.
If the parent company is resident in the U.S., the dividend withholding
tax rate is 15 percent. The rate of the withholding tax is only 5 percent when
the following conditions are fulfilled:
- The recipient parent company in the U.S. owns at least 95 percent of
the voting shares; and
- No more than 25 percent of the gross income of the paying company is
derived from interest and dividends, apart from interest and dividends from
its own subsidiaries.
- Foreign Business Operations. A resident company is entitled to a
reduction in the Danish corporate income tax liability on its worldwide income
equal to one half of the part of that liability which is attributable
proportionately to income from its foreign business operations. A branch or a
subsidiary of a Danish resident company in a foreign country are considered
foreign business operations. Relief is granted whether or not the income
concerned is subject to foreign taxes.
- Foreign Tax Credit. If a Danish resident company derives income from a
foreign country that has not concluded a tax treaty with Denmark and that
income is subject to Danish income tax, a credit is granted for foreign income
tax actually paid on the income against Danish corporate or personal income
tax as appropriate.
Denmark has an extensive network of tax treaties with other countries.
Relief from double taxation under most of the treaties is provided for by a
credit in the country of residence for tax paid in the country of source or
exemption in the country of source. Some treaties also give relief by
exempting foreign-source income in the country of residence.
The tax reduction available for foreign business operations is in
addition to the relief from double taxation, whether this is in the form of a
foreign tax credit or tax exemption in Denmark of foreign-source income.
Table 9 shows illustrations of the effect the provisions of foreign
business operations allowances and relief from double taxation have on Danish
corporate tax for Danish resident companies. The higher the foreign-source
income relative to worldwide income the lower is the effective tax on Danish
income.
[See Table 12.: Illustration of Tax Relief Due to Foreign Source Income (DKK
or $)]
B. Personal Income Taxes
An individual resident in Denmark is liable to pay national, county and
municipal income taxes, and church tax on his worldwide income.
A nonresident individual does not pay county income tax or the church
tax. He is liable to pay national and municipal income taxes, but on certain
types of Danish-source income only. If a nonresident works as an employee in
Denmark for a foreign employer, his remuneration is not subject to national or
municipal income tax unless the employer has a legal presence in Denmark or
payment is made through an agent with a legal presence there.
1. Taxable Income
For resident tax payers, taxable income is total income from domestic and
foreign sources, less allowable deductions that are allowed against the
aggregate amount of income or profits from each source.
For nonresident taxpayers, taxable income includes remuneration for
services performed in Denmark, fees received as a director of a Danish
company, income from business activities carried on through a branch or other
permanent establishment in Denmark, income from Danish real estate, and fees
received for the leasing out of a business in Denmark.
Capital gains are subject to a "special income tax" (saerlig
indkomstskat) at a rate of 50 percent in lieu of the ordinary income tax.
Capital gains include gains from the sale of real estate owned for less than
seven years (other than gains realized as part of the taxpayer's business,
which are subject to the ordinary income tax); gains from the sale of patents,
trademarks and similar rights; lump-sum payments on the termination of
employment; and gains from the sale of shares.
Danish capital gains taxes may be reduced by foreign tax credits.
2. Deductions
- Employment Income Deduction - An employee, whether resident or
nonresident, is entitled to a standard expense deduction of 3 percent of
earned income, up to a maximum of DKK 3,400 (about $485), subject to
indexation.
- General Deductions - Deductions allowed against total income include
all types of interest paid, premiums for life insurance of the annuity type,
and charitable donations. A nonresident individual is not entitled to any of
these general deductions.
- Personal Allowances - A resident individual is entitled to personal
allowances in computing income taxes and social insurance contributions due.
These allowances are DKK 28,200 (about $4,030) for the national income tax,
and DKK 22,100 (about $3,160) for the local income tax.
- Child Allowance - No tax deduction is allowed for dependent children.
Instead a nontaxable allowance of DKK 5,000, (about $715) per child per year
is paid by the state to parents irrespective of the size of the family's
income.
3. Tax Rates
Personal income taxes are levied as follows:
- National income tax
- 22 percent on earned plus unearned taxable income
- 6 percent on earned income
- 12 percent on earned income exceeding DKK 216,000 (about $30,860)
- Less tax credit due to personal allowances
- National income tax allowance, 22 percent of DKK 28,200 (about $4,030)
- Local income tax allowance, 28 percent of DKK 22,100 (about $3,160)
Church tax for resident individuals is levied at flat rates between 0.4
percent and 1.6 percent, varying according to the place of residence in
Denmark.
There is a limitation on the maximum combined tax rate for individual
income taxes. The aggregate burden of national and local income taxes
(excluding church tax) may not exceed 68 percent on any slice of an
individual's taxable income. If it does so, the national income tax is reduced
accordingly.
C. Other Taxes
Other taxes include:
- Net wealth tax
- Transfer taxes
- Inheritance tax
- Gift tax
- Real estate tax
- Share transfer tax
- Transaction Taxes
- Value added tax
- Excise taxes
- Stamp duties
TAX STRUCTURE IN DENMARK
A. Structure of Tax Revenues
Income taxes and transaction taxes constitute more than 90 percent of
Denmark's tax revenues. Personal income taxes account for about half of total
revenues, and value added taxes about one fifth. Corporate income taxes
account for less than five percent of the total tax revenues. Capital gains
and wealth related taxes constitute about 7 percent of tax revenues.
Social security and employment related taxes account for approximately 5
percent of all tax revenues, half contributed by employers and half by
employees.
Table 10 presents the structure of tax revenues in Denmark.
B. Corporate Taxes - International Comparison
Denmark's corporate income tax burden is one of the lowest in Europe and
the world. Table 11 presents a comparison of corporate income taxes as a
percent of total taxes and as a percent of gross domestic product among
selected countries. The share of total income taxes derived from corporate
taxes in Denmark is among the lowest in Europe (on a par with Finland,
Sweden, and Germany), and is significantly below the U.S. and Japan.
Measured in terms of tax revenue relative to gross domestic product,
corporate income taxes in Denmark are among the lowest in the EC, at par with
the U.S. and significantly below Japan.
[See Table 13.: Structure of Tax Revenues in Denmark (In billions and percent,
1988)]
[See Table 14.: International Comparison of Corporate Income Taxes Selected
Countries, 1987]
DENMARK'S FINANCIAL SECTOR
- Denmark has a well developed financial sector. Companies domiciled in
Denmark may raise funds through the Danish banking system or the Copenhagen
Stock Exchange.
- Copenhagen is an international financial center.
- It is the fourth largest center of foreign exchange in Europe.
- It has the world's eighth largest bond market (over $100 billion annual
bond sales, no transaction taxes or withholding taxes).
- It has an effective stock market (with low listing and commission
costs).
- It has a sizable commercial paper market.
- It has a futures and options market.
- It is a regional trading center and the principal link between the
Nordic countries (Sweden, Norway, Finland, Iceland) and EC.
- Denmark's commercial banks are internationally competitive and offer
know-how in international financial matters.
- Denmark has an advanced mortgage banking system which exports mortgage
loans (e.g. to U.K. and West Germany).
- Denmark has a well developed insurance sector.
- Denmark's membership in the European Monetary System (EMS) ensures
stability of the local currency.
AMERICAN AND JAPANESE INVESTMENT IN DENMARK
There are many American and Japanese companies with investments in
Denmark. These investments are for manufacturing plants, distribution centers,
or service and marketing activities.
U.S. COMPANIES
American Meter Company - manufacturing
Allen Aircraft Radio, Inc. - marketing
American Cyanamid Co. - marketing
Apple Computer, Inc. - marketing
AT&T - manufacturing
Bell & Howell Co. - marketing
Borden International, Inc. - manufacturing
Colgate - Palmolive Int'l., Inc. - manufacturing
Commodore Business Machines, Inc. - marketing
Control Data Corp. - distribution
Digital Equipment Corp. - marketing
FMC Corporation - manufacturing
Hercules, Inc. - manufacturing
Hewlett-Packard Corp. - marketing
International Business Machines Corp. - manufacturing
Kellog Company - manufacturing
Milliken & Co. - manufacturing
Motorola Inc. - marketing
NCR Corp. - manufacturing
Parker-Hannifin Corp. - manufacturing
Pfizer International, Inc. - distribution
Texaco - manufacturing
Texas Instruments, Inc. - marketing
Examples of Danish operations are as follows:
- IBM Denmark (IBM/DK)
Founded in 1950, IBM Denmark is the largest computer company in Denmark.
It employs about 2,400 people (1,600 in marketing and services). Its
international Software Publications Center and European Language Services
Center serve IBM customers throughout Europe, the Middle East and Africa.
Annual sales are over $750 million.
In 1987, IBM/DK founded a telecommunications company jointly with a
Copenhagen telephone company, called danNet to sell new services to
subscribers.
In 1989, IBM/DK and the Danish Software Center Computer Resources
International (CRI) entered into a joint venture to market turnkey information
systems. Together CRI and IBM have established the largest privately owned
software center in Denmark.
- Commodore Data
Commodore Data, the Danish subsidiary of Commodore Business Machines,
located its Commodore Networking Centre (CNC) in Denmark in 1989. CNC
assembles and develops communication software products and exports them to
Commodore's subsidiaries worldwide. Annual sales are about $30 million.
- Lycom
Lycom was launched in 1987 as a joint venture company of AT&T (51%
interest) and NKT, a Danish telecommunications company. Lycom is involved in
developing, producing and marketing optical fibres primarily for customers in
Europe and the Third World. Annual Sales are about $11 million.
- Motorola Storno
Motorola acquired Storno DK, a Danish radio communications firm, in 1986,
with the aim of strengthening its sales and distribution position in Europe.
In 1989, Storno was established as Motorola's European Development Center
entailing an investment of $7 million with 900 employees, 250 of whom are
engineers.
- Milliken Denmark
Founded in 1983 with the acquisition of Clean-Tex, a Danish dust-control
technology firm, Milliken Denmark, produces nylon, cotton dust, control mats,
soap and towel dispensers, industrial wipers and air-service products, and
distributes its products throughout Europe. Some 200 workers are employed in
this operation.
JAPANESE COMPANIES
Brother Industries Ltd. -- marketing
Dai Nippon Printing Co., Ltd. -- manufacturing
Hitachi Ltd. -- marketing
Marubeni Corporation -- marketing
Seiko Epson Ltd. -- marketing
Sony Corporation - marketing
Yamaha Corporation -- marketing
Yoshida Kogiyo K.K. -- manufacturing
Examples of Danish operations are as follows:
- Dai Nippon Printing
Dai Nippon Printing Co. Japan (DNP) entered in 1989 into a joint venture
with the Danish company JEC Optical Products. The purpose of the new company
is development, production and global sales of advanced reprojection TV
screens from 67" up to 150" for sales to conference and exhibition centers,
educational institutions, sports facilities, train stations, airports and
other places needing large scale projections. The initial investment was $3.5
million.
- Sony Scandinavia
Sony Scandinavia was established in 1987 to take total responsibility for
marketing and sales in the four Scandinavian countries (Sweden, Norway,
Denmark, Finland). Sony Scandinavia is the leading supplier in Scandinavia of
consumer electronics and has a dominant position in professional equipment.
Total sales exceeded $140 million in 1989. The central warehouse of Sony
Scandinavia and its central computer are situated in Copenhagen.
- Epson
In November 1988, Epson decided to locate its Scandinavian headquarters
in Denmark. The subsidiary Epson Denmark A/S is responsible for marketing,
sales, distribution, service and support of Epson's products in the
Scandinavian countries. Annual sales are about $17 million.