The Irvine-based H&X Technologies, part of Hibino Corp. in Tokyo, was launched about a year ago to establish a foundation in Southern California to sell and lease its suite of high-res LED displays and products through the U.S.
“Hibino’s vision for their future is to expand at a global level,” H&X Chief Executive Greg Redman told the Business Journal. “It’s all part of their long range plan to diversify.” Hibino’s European arm is German company AV-X GmbH.
Hibino, founded in 1964, is one of Japan’s oldest audio and visual companies but has struggled to expand business beyond its native country, where it generates about 95% of its $270 million in annual revenue, according to Redman.
The parent has invested $5 million into the local operation, he said.
Hibino has several long-standing relationships with Japanese conglomerates, including Panasonic, whose avionics unit based in Lake Forest. It has found a niche supplying displays for concert tours and other Japanese artists.
The local unit has found some early success in targeting corporate events, such as meetings, conventions and expos, lining up exhibition work at CES—the world’s largest consumer electronics show held annually in Las Vegas—as well as the auto show circuit for the likes of Toyota, Lexus, Mercedes-Benz and Mitsufuji Corp.
It has handled indoor projects at the Milan Expo and for Subaru. Outdoor projects include the Shanghai UNIQLO store and Yokohama Hakkeijima Sea Paradise.
H&X sees rising demand at airport retailers, building architecture and corporate experience centers.
The global digital signage market is projected to hit $31.7 billion by 2025, according to Grand View Research Inc., with a compounded annual growth rate of 7.9%.
Redman said LED tiles are becoming more readily customizable, including the addition of media. H&X can service those creative needs via its parent company and European subsidiary.
H&X employs nine workers at its 15,000-square-foot headquarters at 8900 Research Drive. Hibino employs about 950.
Redman said the company projects it will eclipse $3 million in revenue this year.
The company is at least the third in OC with Japanese ties, and a core business in digital displays, joining Lake Forest-based Toshiba America Business Solutions Inc. and Ricoh Electronics Inc. in Tustin.
