March 1, 2018
KANEFUSA, manufacturer of cutting tools for wood and metal, announced the establishment of a manufacturing subsidiary in Binhook Province, northern Vietnam on January 22, 2018. The company will be capitalized at US$4 million. The amount of investment and total floor space are not disclosed.
The company plans to establish the subsidiary in June this year and to begin operations in September, 2019. KANEFUSA has three production bases in Japan, China, and Indonesia. With the addition of Vietnam, the company will utilize four bases.
The company aims to increase international price competitiveness, develop new markets, and further expand sales.
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