- Its Premix Plant Scheduled to Start Operation in 2027 -
TOKYO, July 29,
2024 /PRNewswire/ -- NIPPN CORPORATION (hereinafter
"NIPPN"), based in Tokyo's
Chiyoda-ku, will establish a local subsidiary, NIPPN Vietnam
Company Limited (hereinafter "NIPV"), in Dong Nai Province in the southern part of the
Socialist Republic of Vietnam
(hereinafter "Vietnam") in order
to expand sales of the NIPPN Group's products for commercial use in
the ASEAN region. Vietnam will be
the fifth country for NIPPN group to enter.
With a GDP growth rate of 5.05% in 2023, Vietnam has recovered from the impact of the
COVID-19 pandemic, and furthermore, the economy is expected to
continue expanding steadily in the future. Since Vietnam's
population has surpassed 100 million and the average age of its
citizens is young, in their early 30s, Vietnam is also expected to grow in the
medium to long term.
The NIPPN Group has been steadily expanding its business in the
ASEAN region. In Thailand, NIPPN
established NIPPN FOODS CORPORATION (THAILAND) LTD. in 1996 as a sales company with
R&D functions, and completed construction of a premix plant in
2008. Furthermore, in Indonesia,
NIPPN established PT NIPPN FOODS INDONESIA in 2014, and started operation of a
premix plant in 2023. By establishing a new plant in Vietnam, NIPPN will strengthen its supply
system within the ASEAN region to ensure a more stable supply, and
will also strengthen its business in Vietnam. In addition,
NIPV also plans to open a sales office in Ho Chi Minh City.
NIPPN defines overseas businesses as one of the growth fields in
its FY2023-2027* medium-term targets, and aims to achieve 200%
growth in international net sales over FY2024. With this new
business development, NIPPN will further ensure its efforts to
achieve its medium-term targets. This new entry into Vietnam will further ensure NIPPN's
initiatives to achieve its medium-term targets.
*NIPPN's fiscal year FY2023 refers to the period from
April 1, 2022 to March 31, 2023.
Other fiscal years will follow the same way.
Overview of NIPV
- Location: Long Thanh Industrial Zone, Dong Nai Province, Vietnam. (Approx. 45 km from Ho Chi Minh City)
- Capital amount: VND 322.79 billion (equivalent to
USD 13 million; approx. JPY 2 billion)
- Representative: Takeshi Koiso
- Business: Manufacturing and sales of premix products (including
import/export operations)
Overview of Premix Plant at NIPV
- Site area: 17,767 m2
- Production capacity: Approx. 4,300 tons per year
- Manufactured items: Various premix products for commercial
use
- Start of operation: Scheduled to start in 2027
Location of NIPV:
https://cdn.kyodonewsprwire.jp/prwfile/release/M108240/202407244096/_prw_PI1fl_H3m32OJc.png
About NIPPN:
https://kyodonewsprwire.jp/attach/202407244096-O1-E2AT98pO.pdf
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SOURCE NIPPN CORPORATION