Japan food business Nippn to establish Vietnam unit, double overseas sales
Japan’s Nippn Corporation, formerly known as Nippon Flour Mills Co., Ltd., will establish a subsidiary in Vietnam to expand sales in the ASEAN region, the firm said Tuesday.
Nippn said it had made its ASEAN debut in 1996 with a subsidiary in Thailand and expanded to Indonesia eight years later.
Its Vietnam foray, including a sales office in Ho Chi Minh City, is part of efforts to double its overseas sales in the medium term (2022-2026) from 2023 results.
Some popular products of Nippn. Photo courtesy of the company.
The Vietnamese subsidiary, located in the southern province of Dong Nai, will have a registered capital of VND322.8 billion (approximately $13 million).
Nippn plans to establish the firm in July-August with a 1.8 hectare animal feed factory. The factory, set to become operational in 2027, will have an annual capacity of 4,300 tons of premix products.
Vietnam’s output of cattle and fisheries feed reached 7.43 million and 4.04 million tons in the first six months of this year, up 6.3% and 1.7% year-on-year respectively, according to the General Statistics Office.
Besides, the country spent $2.56 billion on importing animal feed and materials in the first half of this year, up 9.4% year-on-year.
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