PRESS RELEASE – JOINT VENTURE AGREEMENT BETWEEN MPG, SGS, AND NICO

Joint Venture Signing Ceremony between MP Group Joint Stock Company (MPG), Nishikawa Communications Joint Stock Company (NICO), and Sougou Shouken Joint Stock Company (SGS) – September 2023

On September 11, 2023, at the headquarters of MP Group Joint Stock Company (MPG), a joint venture agreement signing ceremony was held between MPG, Nishikawa Communications Joint Stock Company (NICO), and Sougou Shouken Joint Stock Company (SGS).

The signing ceremony was attended by representatives from all parties, as well as executives from member companies and participants from the MPG ecosystem.

Following the joint venture signing ceremony, SGS issued a press release to inform the media about the event and the collaboration between the parties. The content is translated into English as follows:

“Vietnam has emerged as one of the fastest-growing economies in recent years, with real GDP growth exceeding 8% in 2022, and continued economic growth expected from 2023 onwards due to population expansion. Along with this growth, many Japanese companies are expanding into Vietnam, and the demand for Japanese businesses in fields such as advertising and marketing services is rapidly increasing. Additionally, the growing demand in the tourism industry, driven by increasing travel between Vietnam and Japan, is creating expanding business opportunities in these markets.

To leverage its expertise and resources in supporting businesses—such as sales promotion and BPO services that SGS has developed over many years in emerging Southeast Asian markets, including Vietnam—SGS has acquired shares in BPO.MP Co., Ltd. Furthermore, in conjunction with this acquisition, SGS has entered into a joint venture agreement with the existing investors, MPGROUP Joint Stock Company (MPG) and NICO Corporation.”

BPO.MP COMPANY LIMITED is a company headquartered in Da Nang, Vietnam, providing a wide range of high-quality BPO services. Da Nang is the third-largest city in Vietnam after Ho Chi Minh City and Hanoi, and it is expected to continue developing as the economic and cultural center of Central Vietnam. By participating in the management of the company, SGS aims to build a regional network and lay the foundation for business development in the Vietnamese and Southeast Asian markets.

Through BPO.MP COMPANY LIMITED, SGS will expand its BPO business activities such as call centers and data entry, as well as business operations related to translation and staffing services for Japanese companies expanding into Vietnam or planning to enter the Vietnamese market. SGS will leverage the company’s human resources, technology, and expertise to further develop its business in the Japanese market.

In addition, by building a cooperative framework with MPGROUP JOINT STOCK COMPANY (MPG) and NICO Corporation – companies with which SGS recently signed a joint venture agreement – SGS will utilize their respective strengths and management resources to provide comprehensive support for business promotion activities such as marketing. SGS will expand its operations across various sectors, including logistics support, system development, and tourism PR business between Vietnam and Japan.”