The move aims to accelerate production overseas and diversify risks of dependence on processing facilities in China.

With an investment capital of $13.5 million, this is the first facility of the Japanese seafood giant in Vietnam. The facility specialises in producing fillet, boiled fish, grilled fish, and processed crab products, among others.

The factory is slated to be put into full operation in February 2025 with an estimated output of 5,000 tonnes.

The investment is part of the company’s new medium-term business plan, “Gear Up Kyokuyo 2027”. As part of this plan, Kyokuyo is ramping up expansion and business activities overseas to expand its platform.

Most of the products produced at the new factory will be exported to Japan. The company aims to diversify its seafood and frozen food processing facilities, which are mainly concentrated in China.

Kyokuyo is weighing a plan to develop a second factory in Vietnam as a manufacturing base in Southeast Asia to capitalise on the increasing demand for seafood, driven by increasing incomes and health awareness.

Source: Vietnam Investment Review