Japan’s Marubeni to invest $100 mln more in Vietnam subsidiary, transfer equity afterward
Japan’s Marubeni Corporation will increase its investment in Vietnam subsidiary Kraft of Asia Paperboard & Packaging (KOA) and then transfer its whole equity in the firm to Meico Management Co., Ltd.
In an announcement last week, Marubeni said it established KOA in June 2018 with an initial capital of $191.9 million. Marubeni would increase the figure to $306.8 million, according to the statement.
Kraft of Asia Paperboard & Packaging factory in Ba Ria-Vung Tau province, southern Vietnam. Photo courtesy of Kraft of Asia Paperboard & Packaging.
In the same announcement, Marubeni said it would then transfer KOA to British Virgin Islands-based Meico Management, an international investment business. The transfer price is unknown.
Marubeni is set to conduct the capital increase in January 2025 and then the transfer in February 2025. The move is subject to authorities' approval and other conditions.
KOA, which manufactures and sells containerboard and packaging products, is located in Ba Ria-Vung Tau province, southern Vietnam. It recorded a pre-tax profit of JPY22,722 million ($151.41 million) on revenue of JPY14,596 million ($97.26 million) in the fiscal year ending March 2024.
Marubeni has invested JPY90 billion ($593 million) in Vietnam since 1991 and is looking to continue investing billions of USD more, president and CEO Masumi Kakinoki said in November 2023.
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