Japanese apparel maker Matsuoka Corp. will build a new plant in the central region of Vietnam, as part of a medium-term business strategy to lessen its reliance on China (Illustrative photo: VNA) Tokyo (VNA) – Japanese apparelmaker Matsuoka Corp. will build a new plant in the central region of Vietnam,as part of a medium-term business strategy to lessen its reliance on China.
Matsuoka will establish a wholly-ownedsubsidiary, Annam Matsuoka Garment Co., possibly in August to build and operatethe new plant in the north-central province of Nghe An.
The new plant is Matsuoka's fourth plant inVietnam after one each in the northern provinces of Phu Tho and Bac Giang andthe southern province of Binh Duong.
Matsuoka spokesman Michihiro Fukagawa toldNNA/Kyodo news said the corporation hopes to begin operations in Nghe An at anearly date.
China accounted for about 60 percent,Bangladesh 25 percent and Vietnam 10 percent of the Hiroshima prefecture-basedcompany's overseas sales in the fiscal year through March this year.
The firm's medium-term business plan callsfor reducing its reliance on China to around 50 percent by March 2021 byshifting its focus to Vietnam from China, where production costs are on therise, Fukagawa said.
Matsuoka sees Vietnam as a key productionbase for casual apparel bound for Japan and China, the spokesman said, addingthe firm's Bangladesh arm manufactures inner wear and working wear.-VNA
Matsuoka will establish a wholly-ownedsubsidiary, Annam Matsuoka Garment Co., possibly in August to build and operatethe new plant in the north-central province of Nghe An.
The new plant is Matsuoka's fourth plant inVietnam after one each in the northern provinces of Phu Tho and Bac Giang andthe southern province of Binh Duong.
Matsuoka spokesman Michihiro Fukagawa toldNNA/Kyodo news said the corporation hopes to begin operations in Nghe An at anearly date.
China accounted for about 60 percent,Bangladesh 25 percent and Vietnam 10 percent of the Hiroshima prefecture-basedcompany's overseas sales in the fiscal year through March this year.
The firm's medium-term business plan callsfor reducing its reliance on China to around 50 percent by March 2021 byshifting its focus to Vietnam from China, where production costs are on therise, Fukagawa said.
Matsuoka sees Vietnam as a key productionbase for casual apparel bound for Japan and China, the spokesman said, addingthe firm's Bangladesh arm manufactures inner wear and working wear.-VNA
VNA
