Koizumi buys 23% stake in Vietnamese firm
Koizumi buys 23% stake in Vietnamese firm
Japan's Koizumi Co., Ltd on December 5 signed a strategic investment agreement for buying a 23 per cent stake in Vietnamese steel firm QH Plus JSC.
VietinbankSC and the Vietinbank provided the consultation for the investment. The detailed value of the deal has not been disclosed.
According to the investment agreement, Koizumi will buy 23 per cent of QH Plus's shares. In addition, Koizumi's products will be introduced in the business system of QH Plus, while QH Plus products will be introduced in Koizumi's sales channels.
Speaking at the signing ceremony, General Director of VietinbankSC Khong Phan Duc said the agreement between QH Plus and Koizumi would bring many benefits for both sides, as well as enhance each company's reputation.
Koizumi is one of the pioneers in the field of household equipments with nine subsidiaries and more than 100 sales offices in Japan. The company's revenue in 2014 was US$1.1 billion.
QH Plus was established in 2006. The company focuses on major fields such as steel, construction materials and construction accessories and expects to earn $100 million in revenue this year.
Currently, QH Plus has offices in many countries, such as China, Singapore, Laos and Cambodia, besides Malaysia and the Philippines.
