Japan's NIPRO makes FDI of Tk 128cr to merge with JMI Group

Japanese medical equipment giant NIPRO Corporation has expanded its business in Bangladesh by making fresh foreign direct investments (FDI) of around Tk 128 crore (USD 15 million) to merge with JMI Group.

With this, NIPRO Corporation's total investment in the JMI Group stands at around Tk 680 crore (USD 80 Million).

The merged entity is named NIPRO JMI Marketing Ltd and it will market medicine and medical equipment manufactured by the JMI Group to the local market in Bangladesh, a release said.

An event to mark the merger was held at JMI Group's head office in Dhaka today.

At the event, NIPRO Asia Pte Ltd representative Shigetomi Hisao said, "The JMI Group has achieved our trust by producing quality products. That's why we haven't hesitated to further our investments. We hope to satisfy consumers by ensuring the quality of our products."

JMI Group Managing Director Md Abdur Razzaq said that the new foreign direct Investment (FDI) from Japanese NIPRO Corporation "proves the quality of our group as well as the products we manufacture".

"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 said.

JMI has been a manufacturer and supplier of medical devices and pharmaceuticals in the country since 1999.

NIPRO Corporation, listed on the first section of the Tokyo Stock Exchange in Japan is one of the biggest manufacturers of medical devices, pharmaceuticals and pharma-packaging in the world.