TOKYO—Japanese conglomerate Marubeni Corp. expressed interest in investing in consumer-related businesses targeting the rising middle-income group in the Philippines.
“We plan to venture into more consumer-related opportunities, enhancing the well-being of the Filipinos in the middle class,” Marubeni general manager for Asia and Oceania at regional planning and coordination department Daigo Odawara said in a presentation with Metro Pacific Investments Corp. officials over the weekend.
Marubeni is evaluating residential development, healthcare and agriculture sectors as areas for investments in the country. It said the Philippines is one of the core markets in Asia for power generation following the deregulation of the industry.
Marubeni also vowed to “continue its business in the Philippines,” including its partnership with Maynilad Water Services Inc., the water utility firm of Metro Pacific.
“Of course, we want to continue our business in Philippines,” said Marubeni general manager of environmental infrastructure and Maynilad director Kazuaki Shibuya, when asked if the company plans to keep its stake in the water utility firm once the latter holds an initial public offering.
Marubeni been a long-time shareholder of Maynilad despite some regulatory issues.
“We, as Marubeni, will continue to contribute to Maynilad for their improvement and including the IPO, which we expect within a few years’ time. In turn, I hope Maynilad will contribute to Marubeni’s profit,” Shibuya said.
Maynilad plans to conduct its maiden share offering by 2026 as required under its regulatory franchise.
MPIC chief finance officer June Cheryl Cabal-Revilla said both firms recently talked about healthcare and innovation, including in vitro fertility clinic and dialysis center for possible collaboration.
Marubeni has investments in various industries in the Philippines including, power generation and distribution, heavy equipment and automobile sectors, railway, healthcare and finance and leasing aside from Maynilad.
It owns a 50-percent stake in Team Energy Corp., 50 percent in Ingrid Power Holdings Inc., 20 percent in Shin Clark Power Holdings Inc. and 30 percent in San Roque Power Corp.