Updated  
April, 04 2012 09:56:00

Japan firm buys control of distributor

HA NOI — Tokyo-based Sojitz Corp is planning to purchase an additional 25.99 per cent stake in Huong Thuy, one of Viet Nam's leading goods wholesalers, bringing its total stake in the company to 50 per cent.

According to Vietnam News Agency bureau in Tokyo, the buy-up is part of a plan for Sojitz to expand its business in Viet Nam's lucrative wholesale and retail markets.

The purchase will make Sojitz the largest shareholder in Huong Thuy while strengthening its presence in the region.

The value of the purchase was not disclosed.

The buy up will also enable Sojitz to use Huong Thuy's existing logistics, distribution and retail network, which reaches across Viet Nam with 40,000 outlets.

Headquartered in HCM City, Huong Thuy Corp is a food wholesaler and retailer of international brand dairy products, beverages, confectioneries and seasonings.

Sojitz, which has 140 domestic and 363 overseas subsidiaries, targets to increase Huong Thuy's annual revenue from 4 billion yen (US$48.8 million) in 2011 to 20 billion yen in 2016. — VNS

Send Us Your Comments:
Name:
Your E-mail address:
Title:
 

VietNamNews may edit your comments and not all emails will be published.

Highlight

HCM City struggles to control influx of substandard produce 1    HCM City struggles to control influx of substandard produce

High demand for farm produce and the sheer variety of ways in which it is brought into HCM City from other localities makes quality control a very difficult task, officials say.

Hoi An hosts silken rendezvous Hoi An hosts silken rendezvous

Top craftsmen and women from seven silk villages in Viet Nam will participate in the Viet Nam Silk Culture Day at Hoi An city's Silk Village centre on December 28.

Local art smashes auction record Local art smashes auction record

Days after noted Vietnamese artist Le Pho's View from the Hilltop set a new auction record, art collector Nguyen Minh still has a lingering feeling of regret.

Long Bien Bridge preservation divides planners 2    Long Bien Bridge preservation divides planners

Architecture and cultural managers discussed Long Bien Bridge's future at a seminar held on Wednesday in Ha Noi.

Malaysia crush VN in AFF semis Malaysia crush VN in AFF semis

Viet Nam suffered a nightmare yesterday at My Dinh Stadium in Ha Noi as they were knocked out of the ASEAN Football Federation-Suzuki Cup.