Date: 15th December 2022
Our Explanation about the Loss in Business and invitation of Mr. Takeo Ono
Dear Sir,
I, the undersigned person KOBAYASHI Ikumi, Japanese national and working with the Yurtec corporation as a Representative Director.
Under the process of VISA recommendation of Mr. Takeo Ono, a Japanese national (Passport No; TS0890658) the Authority BIDA (Bangladesh Investment Development Authority) has asked the reason of Business loss of our company. I hereby explaining the reason for your kind perusal.
Yurtec Corporation is one of the reputed Japan based construction company and in Bangladesh they established a Branch office in 2019. In Initial period, we got some project and we executed properly. But from the begging of the 2020, we faced the crisis of pandemic, and we did not get any project. But company’s operational expenditures (Office rent, Employee’s salary, Tax, VAT, consulting fee, Audit Fee, Stationary and so on) was continuing as general. So that’s the prime reason of loss of our company.
At now we are submitting the tender to different potential projects, and we believe that we can recover this situation as soon as possible.
As Yurtec corporation is a Japan based company (Branch office in Bangladesh) and established in 2019 in Bangladesh, it is not possible to handover all the responsibility to local person within very shorten period. As we have mentioned that we are proceeding for tender submitting, so we need to expand our business along with the Japanese who are already working in Bangladesh. By nature, our top management always needs to be in touch of the Japanese community (Top managements of Japanese companies in Bangladesh) and understand their needs and cultures. As a Japanese company, we believe that this is the key success factor for business, which is very difficult for a Bangladeshi to maintain initially. Unfortunately, as we do not have any other Japanese in Bangladesh, so we want to recommend for sending Mr. Takeo Ono in Bangladesh for expanding our business.
As Yurtec Corporation is under loss and we are inviting Mr. Takeo Ono for expanding the business as we have mentioned that above so we will provide his from remittance which branch office will receive from Japan head office. When we can progress the profit of our business, we will provide Mr. Takeo Ono salary from Bangladesh.
We are cordially requesting for taking our explanation into your kind cognizance and take initiative to issue the recommendation letter.
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KOBAYASHI Ikumi
Representative Director