Business

Japan’s food giant Meiji to establish subsidiary in Hanoi

Japanese food giant Meiji Co. will set up a wholly owned subsidiary in Hanoi on April 1 to ramp up sales in Vietnam of powdered infant formula milk imported from Japan.

Hanoi (VNA) - Japanese food giant Meiji Co. will set up a whollyowned subsidiary in Hanoi on April 1 to ramp up sales in Vietnam of powderedinfant formula milk imported from Japan.

Meiji Food Vietnam has a total capital ofabout 200 million JPY (1.8 million USD).

According to Meiji, Vietnam has about 1.5 million births a year, 70 percentmore than in Japan, and the number is projected to keep growing.

However, the Japanese dairy and confectionery company will continue to shipformula from Japan for sale in Vietnam, with no plans to construct a localfactory.

Southeast Asia is a potential market for Meiji. The food segment of parentMeiji Holdings posted sales of 6.4 billion JPY in the region in the 2019 fiscalyear ended March 2020, up 12 percent from the previous year.

In Vietnam, Meiji's nutritionists have provided dietary advice to workersat Japanese-owned factories since 2018. The company also sells fortifiedmilk for adults there. It aims to provide nutrition education to 650,000 peoplein Vietnam by 2030./.

VNA
#Meiji Co. #powdered infant formula milk #Meiji Food Vietnam #confectionery company #nutrition education #Vietnam #Vietnam news #Vietnam News Agency
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