De Laubenfels (1985) described P. fasciculus as a new species based on his own collections from Taiwan, with one of these designated as the type. Similar plants were described from southern Japan (Kyushu: Nagasaki; Ryukyu Islands: Iriomote Island) as P. macrophyllus var. liukiuensis Warb. and as P. macrophyllus f. grandifolius Pilg. from the Ryukyu Islands. Iriomote Island is close to Taiwan and P. fasciculus occurs on several other islands in the Ryukyus, up to the main islands of Japan (Walker, 1976; Nakamura, 2009).
In Taiwan this species has been exploited for its timber, but as most trees do not attain large size, its commercial importance is limited. The wood is used for light construction, carpentry, and sometimes furniture making. It may be planted in city parks as an ornamental, masquerading under the general name P. macrophyllus, to which it is superficially similar.