- Webus International (WETO, Financial) expands into Osaka, Japan with a new subsidiary, enhancing its presence in the booming Japanese tourism market.
- The company has signed cooperation agreements with local property management firms, leveraging $500 million in assets.
- Osaka welcomed 15.6 million international tourists in 2023, spending $22.67 billion, highlighting the region's significant tourism potential.
Webus International Limited (NASDAQ: WETO), an AI-driven mobility solutions provider, has unveiled plans for strategic expansion into Osaka, Japan. The company has established a new subsidiary in the city, marking a significant step in its global expansion strategy.
Through strategic cooperation agreements with local property management firms, including a company managing $500 million in assets, Webus aims to leverage extensive real estate resources to support its growth in the region. The expansion plan involves establishing a headquarters in Osaka, acquiring coastal resort properties, developing homestay hotels and luxury resorts, creating cultural tourism packages, and building a dedicated vehicle fleet under the "Wetour" brand.
The tourism market in Osaka is experiencing robust growth, with 15.6 million international tourists visiting the city in 2023, spending an estimated $22.67 billion. The city's GDP grew by approximately 4% last year, supported by 28 daily direct flights from Shanghai, emphasizing its strategic location as a connection point for international visitors.
Webus's entry into the Japanese market aligns with Japan's long-term tourism growth projections, targeting 40 million visitors and JPY 9-10 trillion in spending by 2025, along with a 2030 goal of 60 million visitors and JPY 15 trillion. By establishing a comprehensive presence in Osaka through its Wetour brand, Webus is positioned to capitalize on the premium tourism segment, offering mid-to-high-end tourism experiences focusing on boutique groups and private tours.
