Matsuoka, Japan: To Build Textile And Garment Factories In Vietnam To Reduce Dependence On Chinese Factories

Yue Gang's correspondent in Tokyo reported that Matsuoka, based in Hiroshima, Japan, plans to invest in new factories in central Vietnam. This is part of the medium term business strategy of the Song Gang group, which aims to reduce dependence on Chinese factories.

　　 According to plan, Matsuoka group will set up Annam Matsuoka clothing company in August this year to build and operate the textile factory in Liaoning Province. This is the fourth factory built by the group in Vietnam, and the other three factories are located in the provinces of Fu Shou, Beijiang and Pingyang.

Matsuoka group spokesman Michihiro Fukagawa said the group hopes to put the plant into operation as early as possible.

　　 In 2018, China's factory operating revenue accounted for 60% of the foreign factory's operating income, while Bangladesh and Vietnam accounted for 25% and 10% respectively. However, in the interim plan, the group will reduce its operating income to 50% of its foreign plant's operating income by March 2021, he said.

Matsuoka Shen Chuan stressed that the Matsuoka group positioned Vietnam as the main factory for the production of ordinary textile and clothing products, while Bangladesh was the main factory for underwear and tooling production.