Koizumi Group, a major wholesaler of housing equipment and materials in Japan, has acquired a 23 percent stake in Vietnamese-owned QH Plus, local media reported Thursday.
The deal, whose value has not been disclosed, is expected to help Koizumi expand into Vietnam's construction materials market.
Founded in 2006, QH Plus is a known producer and trader of steel products and other construction materials in Vietnam with offices in China, Japan and other ASEAN countries such as Malaysia and Singapore.
Its sales are estimated at US$100 million this year, compared to $90.63 million the year before, according to the reports.
The Japanese company runs nine subsidiaries and more than 100 sales offices mostly in Japan with sales of over US$1.14 billion last year, they said.