Nihon Kohden Corporation announced today that it will establish a new sub-subsidiary, a wholly owned subsidiary of Nihon Kohden Singapore (NKS), one of Nihon Kohden’s sales subsidiaries, aiming to apply for registration of medical devices smoothly and expand its sales in Vietnam. The new sales subsidiary will start operations in March 2024.
Nihon Kohden established NKS in 1996, NKS Bangkok (currently Nihon Kohden Thailand) in 2013, Nihon Kohden Malaysia in 2014, and Nihon Kohden Singapore Philippine Branch Office in 2023, respectively, and has strengthened its business structure in Southeast Asia.
In Southeast Asia, the medical infrastructure has been developing in accordance with economic growth and the medical device market is expected to grow. In Vietnam, Nihon Kohden will apply for registration of medical devices smoothly and expand its sales by establishing a new sales subsidiary.
Nihon Kohden’s Three-year Business Plan, BEACON 2030 Phase I, calls for the Company to conduct strategic business expansion to meet medical needs in high growth emerging markets. The Company will continue to expand its overseas business by strengthening its local business structures and providing high quality advanced medical devices.
The effect of creation of the new sales subsidiary on the consolidated results for the fiscal year ending March 31, 2024 will be minor.
[Outline of new sales subsidiary in Vietnam]
|Name||Nihon Kohden Vietnam Co., Ltd.|
|Address||Hanoi, the Socialist Republic of Vietnam|
|Line of business||Application for registration and sales promotion of medical devices|
|Capital||20,000 U.S. dollars (100% held by Nihon Kohden Singapore)|
|Representative||Hirotsune Kobayashi (concurrent post: Representative of Nihon Kohden Singapore)|