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Establishment of a New Sales Company in Vietnam

Daido Kogyo Co., Ltd. (headquarters: Minato-ku, Tokyo, President and CEO: Kazuto Tachibana), a consolidated subsidiary of Daido Steel Co., Ltd. (headquarters: Higashi-ku, Nagoya, President and CEO: Tetsuya Shimizu), established a new sales company, Daido Kogyo Vietnam Co., Ltd., in Vietnam in September 2023, which started operation on October 2, 2023.

One of the targets of Daido Group’s Mid-term Management Plan from FY 2021 to 2023 is to expand overseas business, focusing on sales of high performance materials in Asian markets, such as China, India, and ASEAN countries. By leveraging the sales channels of the newly established company in Vietnam, Daido Group strives to capture increasing demand for specialty steel and intends to develop its sales network to boost sales of high-performance materials in the ever-expanding Vietnamese market.

In addition, by coordinating among its subsidiaries in ASEAN, China, and India, Daido Group aims to further broaden its marketing network and widen sales channels in growing markets in Asia.

New Company Overview

Company name Daido Kogyo Vietnam Co., Ltd.
Establishment September 2023
Location Hanoi, the Socialist Republic of Vietnam
Capital 50 million yen
Business description sales of specialty steel