Japan’s Nishimoto to buy 30% share in Vietnam’s Japanese food trader Sim Ba Trading
HANOI, NNA – Asian food products development and trading company Nishimoto Co. will form a capital alliance with a major Japanese food trader in Vietnam to further penetrate the domestic market with Japanese flavors.
The Tokyo-based firm plans to buy a 30 percent stake in Ho Chi Minh City-based Sim Ba Trading Co., corporate planning official Yuri Shinose told NNA on Monday. She declined to comment on the details of the deal.
Sim Ba, established in 2004, has four branches in Vietnam – Hanoi, Haiphong, Danang and Nha Trang. The two firms have been trading partners for a long time, Nishimoto said in a statement on Friday.
The Japanese firm has allied with the local firm to expand sales in Vietnam and other neighboring countries on the back of high economic growth in the region, the statement said.
Nishimoto widely sources food products in Japan, China and Southeast Asia and mainly sells them in North America. Shirakiku, its 100-year-old private brand, is known in the United States, where it has 23 of its 48 global bases, according to the Japanese trader.