Japan’s NIPRO invests Tk 128cr in BD joint venture
NIPRO JMI Marketing Ltd., a Japanese joint venture between NIPRO Asia Pte Ltd of Japan and JMI Marketing Ltd of Bangladesh have formed a joint named NIPRO JMI Marketing Ltd, to market local and foreign medicines in Bangladesh.
NIPRO Asia Pte Ltd., exclusively owned by NIPRO Corporation, Japan, and JMI Marketing Ltd., one of the companies of JMI Group in Bangladesh.
Despite Covid-19 situation, Japanese Conglomerate NIPRO Corporation has invested around Tk128 crore ($15 Million) as Foreign Direct Investment (FDI) by merging with the JMI Group to launch NIPRO JMI Marketing Ltd, says a press release.
With this investment the NIPRO Corporation's total investment with the JMI Group stood at around Tk680 crore (USD80 Million).
The NIPRO JMI Marketing Ltd will market the medicine and medical equipment manufactured by the JMI Group to local market in Bangladesh.
Rather, the company will source essential medical equipment across the globe and will market the products at home and abroad after ensuring the quality.
A launching ceremony of NIPRO JMI Marketing Ltd was held at JMI Group's head office at the capital's Banglamotor area on Tuesday morning.
A cake was cut at the event with the presence of high officials from both NIPRO Asia Pte Ltd., and JMI Group.
At the event NIPRO Asia Pte Ltd representative Shigetomi Hisao said, "JMI Group has achieved our trust by producing quality products. That's why we haven't hesitate to further invest with the company. We hope that the NIPRO JMI Marketing Ltd like our other ventures with the JMI Group will satisfy the consumers by ensuring the products' quality."
JMI Group Managing Director Md Abdur Razzaq said that the new Foreign Direct Investment from Japanese NIPRO Corporation proves the quality of JMI Group as well as the products we manufactured.
"We firmly believe that the new partnership will make our commitment to the healthcare sector in Bangladesh even stronger; ensuring our capability of providing quality customer service, smoother distribution and efficient sales and marketing process," he added.
JMI Group is a pioneer and leading manufacturer and supplier of medical devices and pharmaceuticals in the country since 1999, serving the country by producing essential medical devices with joint venture programs.
NIPRO Corporation, listed on the first section of the Tokyo Stock Exchange, Japan is one of the biggest manufacturers of medical devices, pharmaceuticals and pharma-packaging in the world.
JMI Group and NIPRO Group have collaboratively worked on the development of the healthcare sector in Bangladesh with its joint ventures, NIPRO JMI Company Ltd., NIPRO JMI Pharma Ltd., NIPRO JMI Dialysis Centre and JMI Syringes and Medical Devices Ltd. NIPRO JMI Marketing Ltd. is the fifth joint venture established in the partnership between JMI Group and NIPRO Group.