Vuzix Establishes New Offices, Corporate Entities In Germany & Japan To Cut Costs

by Akanksha Bakshi, Benzinga Editor

April 24, 2023 10:59 AM | 1 min read |

Vuzix Corporation VUZI has established new offices and corporate entities in Germany and Japan.
The new international infrastructure developments will allow VUZI to better serve existing partners and customers and develop and support new relationships.
Germany and Japan are geographically positioned to take advantage of considerable local and regional market prospects.
The move also helps reduce overall costs for the company due to the elimination of capital taxes based on the Vuzix parent corporate entity.
Vuzix opened an EU-based office in Munich, Germany, serving the EU, the Middle East, and Africa.
In Japan, Vuzix has converted its legal designation from a branch to a corporate entity and has opened a new office in Kyoto.
Price Action: VUZI shares are trading lower by 1.82% at $3.77 on the last check Monday.

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