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Sojitz Corporation Acquires Full Ownership of Vietnam’s Largest Commercial Food Wholesaler, NEW VIET DAIRY

Japan
s 2768.TSE Mid and Small Cap 2000
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Sojitz Corporation, in collaboration with Sojitz Asia Pte. Ltd. and Sojitz Vietnam Company Ltd., has successfully acquired full ownership of DaiTanViet Joint Stock Company, commonly known as NEW VIET DAIRY. Positioned as Vietnam’s largest wholesaler of commercial food, NEW VIET DAIRY engages in wholesale import and distribution across three key sectors—commercial foods, foodservice, and dairy ingredients. The company achieved approximately JPY 37 billion in annual sales in 2022 and stands out as the exclusive food importer in Vietnam accredited under the Authorized Economic Operators program, streamlining customs clearance.

Anticipating growth in Vietnam’s dining sector, NEW VIET DAIRY, a major player in commercial food and foodservice, manages an extensive portfolio of 2,000 products, serving nearly 6,000 mid- to high-end luxury hotels and restaurants. The company, boasting around 100 suppliers both locally and internationally, is a key handler of beef, cheese, and other products aligned with evolving culinary preferences. NEW VIET DAIRY’s Foodservice Division focuses on delivering added-value food solutions to industry professionals.

Recognizing the expanding dairy market in Vietnam, projected to reach USD 8.4 billion with an annual growth rate exceeding 8%, NEW VIET DAIRY strategically imports dairy ingredients from Fonterra, New Zealand’s largest dairy manufacturer. The company has earned a substantial 40% market share, securing a top position in the industry with its reputation for swift customer responsiveness, fast delivery times, and flexibility in accommodating small lot orders.

Vietnam, a pivotal market for Sojitz, has witnessed the conglomerate establishing robust value chains across manufacturing, logistics, and retail industries. NEW VIET DAIRY’s acquisition aligns with Sojitz’s commitment to creating a comprehensive wholesale food distribution business. This initiative will cater to independently owned retail stores, mass merchandisers, and mid- to high-end hotels and restaurants. Sojitz plans to synergize with Huong Thuy Manufacture Service Trading Corporation (HT), its consolidated subsidiary and major consumer goods wholesaler, to leverage NEW VIET DAIRY’s and HT’s extensive customer networks for expanded sales channels in Vietnam.

Furthermore, Sojitz intends to utilize NEW VIET DAIRY’s sales network to boost the promotion and distribution of marine food products facilitated by MF Vietnam Ltd. among other collaborative ventures. This strategic move reinforces Sojitz’s commitment to strengthening its value chains and enhancing synergy with other businesses within the Sojitz Group in the dynamic Vietnamese market.

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