Koizumi purchases 23% of domestic steel company’s shares
(VOV) - Japan’s Koizumi group has successfully bought 23% of Vietnam QH Plus Ltd Company’s shares and cooperated in developing support products for the domestic construction sector.
According to an agreement signed by Koizumi and QH Plus, Koizumi products will be included in the QH Plus trading networks while QH Plus products will also appear in the Japanese group’s sales channels.
Khong Phan Duc, director general of VietinBankSc - consultant of the M&A deal - said QH Plus and Koizumi cooperation will practically benefit both sides in terms of goods distribution and promotion of their brand names.
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Set up in 2006, QH Plus specialises in trading steel products and building materials and accessories. Its revenue hit US$90.63 million last year and is expected to reach US$100 million this year. It has established a representative office in Japan and exported products to China, Singapore, Laos, Cambodia, Malaysia and the Philippines.
Koizumi is a Japanese leading group in home appliances with 9 subsidiary companies and more than 100 sales stores in Japan. Its revenue hit US$1.14 billion last year.