Phi Hoa, CEO of ONE-VALUE, Speaks at Seminar Hosted by the Embassy of Vietnam in Japan

ONE-VALUE Co., Ltd. (Headquarters: Koto-ku, Tokyo; CEO: Phi Hoa; hereinafter "ONE-VALUE") announces that its CEO, Phi Hoa, participated as a speaker at the seminar titled "Seminar on Investment and Business Opportunities between Vietnam and Japan under the New Landscape," held on Friday, June 12, 2026, at the Embassy of Vietnam in Japan.

The seminar was jointly organized by the Commercial Department of the Embassy of Vietnam in Japan and relevant Vietnamese government agencies, aiming to further promote investment and business cooperation between Vietnam and Japan. Government officials, companies, and industry associations from both countries attended the event.

Invited as an expert in Japan-Vietnam M&A and investment advisory, Hoa delivered a presentation on the theme "M&A in Vietnam and Investment Opportunities for Japanese Companies," explaining the current state of Vietnam's M&A market, promising sectors, risks Japanese companies should consider, and the growth potential brought by capital partnerships between Japanese and Vietnamese enterprises.

The Key to Technology Transfer: Capital Partnership

During his speech, Hoa pointed out that while Vietnam has long emphasized investment and technology transfer from foreign companies, including Japanese firms, truly valuable technology and know-how are not easily transferred through simple business partnerships or technology purchases alone. He emphasized that "for Vietnamese companies to absorb Japan's superior technology, know-how, management, and capital, and for Japanese companies to harness the growth potential of Vietnamese firms, capital partnership—not mere transactional relationships—is essential. M&A goes beyond simple corporate acquisition; it is a field that contributes to the development of both Japanese and Vietnamese companies, and ultimately, to the development of both nations."

For Japanese companies, M&A, investment, or joint ventures with Vietnamese firms are not merely means of entering the local market. They are strategic tools to incorporate Vietnamese companies' youthful growth potential, local networks, sales channels, and talent base, while simultaneously expanding opportunities for Japanese firms' business succession, overseas growth strategies, and new applications of technology.

Conversely, for Vietnamese companies, capital partnerships with Japanese firms represent a crucial opportunity to advance in technology, quality control, management, financing, and governance. Hoa stressed that Japan-Vietnam M&A should be positioned not as a one-sided acquisition, but as a "strategic partnership for mutual growth."

Current State and Key Sectors in Vietnam's M&A Market

Hoa highlighted that Vietnam sees approximately 300 to 400 M&A deals annually, giving it a prominent presence as an M&A destination within Southeast Asia. He identified the following five sectors as particularly promising:

- Manufacturing and industrial sectors - Real estate and construction - Consumer goods and B2C - Green energy and environmental sectors - Healthcare and medical services

### Manufacturing and Industrial Sectors

While Vietnam has traditionally been seen as a low-cost production base, interest has recently grown in manufacturing sectors requiring more advanced technologies, such as chemicals, pharmaceuticals, materials, plastics, and high-tech manufacturing. For Japanese companies, combining Vietnam's production infrastructure with their own technologies presents an opportunity to restructure supply chains across Asia.

### Real Estate and Construction

Sectors such as housing, industrial parks, and urban development continue to attract significant investment. Hoa explained that developments such as the Long Thanh International Airport in southern Vietnam and urban-industrial infrastructure changes due to provincial reorganizations are creating new opportunities for real estate-related M&A.

### Consumer Goods and B2C

With a population exceeding 100 million, Vietnam's appeal as a consumer market is growing as income levels rise. Hoa stated that for Japanese companies to fully expand their products and services in Vietnam, M&A or capital partnerships to leverage local companies' sales networks, brands, and customer bases are effective strategies.

### Green Energy and Environmental Sectors

Vietnam aims for net zero by 2050, increasing interest in solar power, wind power, renewable energy supply for industrial parks, and rooftop solar installations. Hoa noted that with recent policy improvements, investment and M&A activities in the energy sector are becoming active again.

### Healthcare and Medical Services

In Vietnam, household spending on healthcare and education is high, and demand for private medical services and fee-for-service healthcare is expanding. Hoa pointed out that M&A involving hospitals, clinics, and healthcare service providers is likely to accelerate over the next decade.

Practical Risks in M&A: What Japanese Companies Should Watch

While M&A is an effective growth strategy, Hoa emphasized that it is not simply a matter of "acquiring first and figuring it out later." He first cited valuation gaps as a major risk in Vietnam M&A. Vietnamese sellers naturally want high prices, while Japanese buyers seek reasonable valuations, and differences in pricing perspectives often prevent deals from closing. Therefore, the presence of specialists capable of accurate business valuation and evidence-based negotiation is crucial.

Second, he highlighted risks related to financial, legal, and tax transparency. Vietnamese companies may have historical accounting or bookkeeping issues, making it essential to accurately assess the true state of affairs during pre-acquisition due diligence. Hoa stressed that due diligence must go beyond templates and deeply examine practical risks with an understanding of the target industry and local business customs.

He also addressed risks related to foreign investment regulations and licensing. In sectors such as healthcare, education, logistics, real estate, and energy, restrictions on foreign ownership ratios, licenses, and permits exist, requiring careful consideration from the initial stages of acquisition structuring.

Additionally, post-merger integration (PMI) and talent retention are critical issues. Decisions on whether key personnel will remain after acquisition, what Japanese-side management structure to establish, and who will take on which roles must be designed not after contract signing, but during the acquisition evaluation phase.

Shifting from "Buying Cheap" to "Growing Together"

In closing, Hoa urged Japanese companies to view Vietnamese firms not as "cheap acquisition targets," but as "partners to grow together" in the future.

Many Vietnamese companies have strong potential for growth alongside market expansion. By combining this growth potential with Japanese companies' technology, management expertise, capital, and brand strength, significant value can be created for both nations.

Moreover, since many Vietnamese firms are owner-operated, building trust with the owner is key to M&A success. Beyond price negotiations, understanding the seller's growth ambitions, the owner's philosophy, and relationships with employees and customers is essential for building long-term partnerships.

ONE-VALUE's Future Initiatives

As a consulting firm specialized in the Vietnamese market, ONE-VALUE provides comprehensive support for Japanese companies' entry into Vietnam, including M&A, joint ventures, capital partnerships, market research, due diligence, and PMI support.

The company receives approximately 200 inquiries annually regarding M&A and capital partnerships, supporting investment and collaboration opportunities between Japanese and Vietnamese firms across diverse sectors such as manufacturing, real estate, consumer goods, energy, healthcare, IT, and logistics.

Going forward, ONE-VALUE will continue to serve as a bridge between Japan and Vietnam, acting as an M&A and investment advisor to both