Sakurai Vietnam Company Limited (Vietnam)

The subject was founded in 2008 as a Japanese-invested company. It engages in processing garments for export. The first factory is at Lot F2, F Area, Le Mon Industrial Park, Thanh Hoa City, Thanh Hoa Province, which is operating with 15 garment workshops and more than 12,600 employees. The subject mainly processes garments for the UNIQLO brand, and innerwear for Victoria's Secret brand. Its export is under the designation of the parent company.Due to legal problems, the second project has just been granted an investment certificate. Accordingly, it is placed at North Hoang Hoa Industrial Cluster, Hoang Kim Commune, Hoang Hoa District, Thanh Hoa Province. This plant is divided into 4 phases with a total registered investment of VND 883,880 million; of which the first phase has an investment of VND 511,720 million, which is under construction. According to the plan, it will have two workshops and use about 800 workers for each one. It is expected to go into production in the fourth quarter of 2023,According to an accountant, the number of orders has decreased slightly in the first months of this year. By the end of the first half, the subject's revenue was about VND 1,000 billion. Because the costs of goods sold increased significantly, its profit was negative.