Kitoku Shinryo to expand its rice varieties in Vietnam

TOKYO - Major food wholesaler Kitoku Shinryo will produce more varieties of Japanese rice in Vietnam starting in 2016 to try to capitalise on growing demand in that market.

The Japanese company will acquire an 80 per cent stake in a Hanoi-based rice wholesaler, make it a subsidiary and establish a new company as early as next spring. Kitoku Shinryo also will introduce Japanese-style drying and rice-polishing equipment. It expects to spend around 400 million yen (US$3.36 million) on the project.

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