Additional Acquisition of Shares in Vietnamese Consolidated Subsidiary
Hoshizaki acquires additional shares of its Vietnamese subsidiary, ARICO, and begins shipment of refrigerators.
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- 📰 Published: March 29, 2026 at 20:42
Hoshizaki Corporation (Headquarters: Toyoake, Aichi; President: Yasuhiro Kobayashi), a comprehensive food service equipment manufacturer, announced today that it has entered into a share transfer agreement with SEAREFICO CORPORATION (Headquarters: Ho Chi Minh City, Vietnam).
Through this agreement, Hoshizaki will acquire additional shares of its consolidated subsidiary, ASIA REFRIGERATION INDUSTRY JOINT STOCK COMPANY (hereinafter "ARICO"; Headquarters: Ho Chi Minh City, Vietnam), a manufacturer and distributor of commercial and industrial freezers and food processing equipment, from SEAREFICO. This will increase Hoshizaki's equity stake from the current 51% to 99.616%.
This additional share acquisition is intended to further strengthen governance, accelerate decision-making, and integrate business strategies.
Since making ARICO a consolidated subsidiary in March 2025, Hoshizaki has invested in production and prepared for the opening of its first Hoshizaki-brand production base in Southeast Asia at ARICO's existing factory in Ho Chi Minh City. With the mass production system now in place, shipments of commercial refrigerators manufactured at this facility will begin in early April, and they will be sold within Vietnam through Hoshizaki Vietnam.
The additional share acquisition is scheduled for June 2026 and will be conducted through Hoshizaki's consolidated subsidiary, HOSHIZAKI SOUTHEAST ASIA HOLDINGS PTE. LTD. (Headquarters: Singapore), which serves as the regional headquarters for Southeast Asia.
Through this acquisition, Hoshizaki aims to further strengthen ARICO's manufacturing base, expand product shipments throughout Southeast Asia, and pursue further business growth.
■ Overview of ARICO
- Company Name: ASIA REFRIGERATION INDUSTRY JOINT STOCK COMPANY
- Location: Ho Chi Minh City, Vietnam
- Established: October 2007
- Business: Manufacturing and sales of commercial/industrial freezers and food processing equipment
- Representatives: Chairman Atsushi Uesugi, President Huynh Khoi Binh
- Capital: 278.3112 billion VND (approx. 1.669 billion JPY*)
- Number of Employees: 99 (as of the end of December 2025)
- Number of Production Bases: 2 (Ho Chi Minh City) (as of March 26, 2026)
*1 VND = 0.006 JPY
■ Past Press Release Related to This Matter