Jan. 04, 2010
Akiyama Seiko Co., Ltd.
Sumitomo Corp and Akiyama Seiko Establish Joint Venture in Vietnam to Produce
Cold-finished Steel Bars for Printer Shafts
In December 2009, Sumitomo Corporation (President and CEO: Susumu Kato; Head Office: Chuo-ku, Tokyo; hereinafter, "Sumitomo") and Akiyama Seiko Co., Ltd. (President: Shigeru Akiyama; Head office: Chuo-ku, Tokyo; hereinafter, "Akiyama Seiko") officially commenced plant operations under a joint venture established in Hanoi, Vietnam, a major production base for printer manufacturers, with equity contributions by Akiyama Seiko and Sumitomo accounting for 60 percent and 40 percent, respectively.
Combining Akiyama Seiko's long-accumulated product expertise and manufacturing technologies and Sumitomo's abundant business experience in Vietnam, the joint venture will aim to expand the cold-finished steel-bar business by focusing on manufacturing and supplying steel bars in Hanoi for printer shafts. Akiyama Seiko is the first Japanese cold-finished steel-bar manufacturer to embark on production of the steel bars in Hanoi.
2. Background and Aim of Establishing Joint Venture
With Canon Inc. and Brother Industries, Ltd. undertaking printer production in Hanoi, other manufacturers of related parts have also made inroads into the area. However, cold-finished steel bars, which parts manufacturers process into printer shafts, had not been produced locally in Vietnam. Going forward, the joint venture production will ensure high-quality, cold-finished steel bars can be supplied promptly on a stable basis.
3. Outline of Joint Venture
1) Company name : AKIYAMA-SC (VIETNAM) COMPANY LIMITED
2) Established : January 2009
3) Line of business : Manufacturing and sales of high-precision, cold-finished steel bars
4) Paid-in capital : $8 million USD
5) Equity contribution : Akiyama Seiko: 60%、
（Specialty Steel & Wire Rod Dept.(Tokyo): 35％;
Sumitomo Corporation Vietnam LLC: 5%）
6) Location : Thang Long Industrial Park II, Hung Yen province, Vietnam
7) Site area : 11,890 square meters
8)Number of employees : 35 (in 2009)
4.Targeted Scale of Business Operations
Approximately $27 million USD in 2013
Corporate Communications Department,