HOSHIZAKI CORPORATION (hereafter “Hoshizaki”; Head office: Toyoake City, Aichi; President & CEO: Yasuhiro Kobayashi;) today signed an agreement with SEAREFICO CORPORATION (Head office: Ho Chi Minh City, Socialist Republic of Vietnam (hereafter “Vietnam”)).
Under the agreement, Hoshizaki will acquire additional shares in ASIA REFRIGERATION INDUSTRY JOINT STOCK COMPANY (hereafter “ARICO”; Head office: Ho Chi Minh City, Vietnam), a company engaged in the manufacture and sale of commercial and industrial freezers and food processing equipment in Vietnam. Upon completion of the acquisition, Hoshizaki’s ownership interest in ARICO will increase from 51% to 99.616%.
This additional share acquisition is intended to further strengthen governance, speed up decision-making, and integrate business strategies.
Since making ARICO a consolidated subsidiary in March 2025, Hoshizaki has been investing in production facilities and preparing to establish the first Hoshizaki-brand manufacturing base in Southeast Asia within ARICO’s existing factory in Ho Chi Minh City. Commercial refrigerators produced at the factory will begin shipping in early April and will also go on sale in Vietnam through Hoshizaki Vietnam Corporation.
The additional acquisition of shares is expected in June 2026 and will be carried out through Hoshizaki Southeast Asia Holdings Pte. Ltd., Hoshizaki’s regional headquarters in Southeast Asia (Head office: Singapore).
Hoshizaki aims to achieve further business growth through this additional acquisition, strengthening ARICO’s manufacturing foundation and expanding its shipment destinations across Southeast Asia.
■Overview of ARICO
| Company Name: | ASIA REFRIGERATION INDUSTRY JOINT STOCK COMPANY |
|---|---|
| Location: | Ho Chi Minh City, Socialist Republic of Vietnam |
| Year of Establishment: | October 2007 |
| Business: | Manufacture and sales of commercial and industrial freezers and food processing equipment |
| Representatives: | Atsushi Uesugi, Chairman Huynh Khoi Binh, Director |
| Paid-in Capital: | 278.3112 billion dong (approx. 1.669 billion yen*) |
| Number of Employees: | 99 (as of the end of December 2025) |
| Number of Production Facilities: | 2 in Ho Chi Minh City (as of March 26, 2026) |
*VND1 = JPY0.006
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