Vietnamese agricultural firm Tan Long Group JSC has teamed up with two Japanese partners to enter the industrial meal sector, targeting schools, offices, factories, nursing homes, and hospitals.
Per an agreement signed between Tan Long, Nikkokutrust Co. Ltd., and Tokyo Kiraboshi Financial Group, Inc. on Wednesday, the joint venture, called Nikkoku Tan Long, will aim to provide meals with a price of at least VND28,000 ($1.14) per serving for the medium-upper segment.
The joint venture will be 30% owned by Tan Long, 60% by Nikkokutrust and 10% by Tokyo Kiraboshi.
Tan Long, which is known for its rice and pork products, will provide the input foods. Meanwhile, Nikkokutrust will offer its experiences in cooking and kitchen operations, and Tokyo Kiraboshi will connect the joint venture with investors and financial institutions to expand its activities in Vietnam and regional nations.
“Nikkokutrust has a strong foundation of providing 500,000 meals in Japan daily,” said Tan Long Chairman Truong Sy Ba. The cooperation will utilize the strengths of all sides to provide high-quality nutritional meals that meet Japanese standard using Vietnamese ingredients, he added.
Established in 1941, Nikkokutrust now has two subsidiaries in Hanoi, Vietnam.