Kizuna

What Kizuna does

Kizuna JV (Công ty cổ phần KIZUNA JV) operates a ready-built, serviced industrial factory and warehouse leasing business in Vietnam. Its physical footprint consists of four factory zones — Kizuna 1, Kizuna 2, Kizuna 3, and the Kizuna 3 Extension — plus a multi-story "Kizuna Space / Ready Serviced Space" format, totaling approximately 27 hectares of land, roughly 300,000 m² of built space, and ~170 factory units with floor areas ranging from 250 m² to 80,000 m². Each facility is delivered with integrated utilities (dual EVN grid feeds plus solar backup), goods elevators, sprinkler fire suppression, natural ventilation architecture, and shared infrastructure supporting production from day one of lease commencement. The core offering bundles 50+ support services — legal, accounting, recruitment, logistics, IT infrastructure, environmental management, business center, canteen, and 24/7 security — into the lease contract, managed by a multilingual (Japanese, Korean, English, Chinese, Vietnamese) professional staff.

Kizuna's primary customers are foreign direct investment manufacturers — concentrated in Japanese and Korean companies but expanding to American, German, and European firms via chamber-of-commerce channels — together with domestic Vietnamese SMEs and startups. Pricing is quoted per square meter per month (3.8–6.3 USD/m²/month for garment/manufacturing units), with multi-year (10+) discounts of 0.1–0.2 USD/m², positioning Kizuna as a cost-effective alternative to HCMC inner-city factories. Go-to-market is direct, enterprise sales through the multilingual website (kizuna.vn), factory tours, and referral partnerships with JBAV, KOCHAM, AMCHAM, EUROCHAM, GBA, KITECH, KIP, IDEC Yokohama, and GEONGBUK. Named tenants include Ricoh Vietnam, Coasia Itswell Vina (which preserved an estimated 88 billion VND in capital by leasing instead of self-building), Airspeed Vietnam, Semitec Electronics Vietnam (since 2014), and most recently Tokachi Foods Vietnam (lease signed November 2025).

Revenue is generated almost exclusively through recurring monthly/annual factory and warehouse lease payments on subscription-style contracts (subscription_recurring), with no product resale, transactional, or marketplace component disclosed. There are no disclosed funding rounds, no parent company, and no public listing, indicating an operationally funded private joint-stock company. Day-to-day operations are located in Tân Kim Industrial Zone, Cần Giuộc District, with the company also referencing a Tây Ninh registered address; both provinces are adjacent to Ho Chi Minh City. The company is led by Founder and General Director Doan Dung, with an employee count in the 101–250 range.

Name

Kizuna

Legal name

Công ty cổ phần KIZUNA JV

Website

https://kizuna.vn

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

51–100 employees

Short description

Kizuna JV operates Vietnam's first ready-built, serviced factory park network across ~27 hectares near Ho Chi Minh City, leasing fully outfitted factory and warehouse units bundled with 50+ support services to Japanese, Korean, and other FDI manufacturers plus domestic SMEs.

Ownership category

akta.pro rank

Product category

Industrial Real Estate / Serviced Factory Leasing

NAICS

Commercial and Industrial Machinery and Equipment Rental and Leasing (5324), Rental and Leasing Services (532), Other Commercial and Industrial Machinery and Equipment Rental and Leasing (532490)

SIC

Services-Miscellaneous Equipment Rental & Leasing (7350), Services-Equipment Rental & Leasing, Nec (7359), Services-To Dwellings & Other Buildings (7340)

akta.pro primary industry

Site Services & Temporary Infrastructure Rental/Leasing (Portable Toilets, Fencing, Storage Containers) (TLABAFAH)

Keywords

• Serviced factory leasing
• Ready-built factories
• Industrial real estate
• Manufacturing space rental
• FDI industrial park

Headquarters

HQ city

Tân An

HQ country

Vietnam

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Marketing or Sales, Supply Chain

Revenue model

1. Factory and Warehouse Leasing: Kizuna leases ready-built, serviced factory units and warehouses to manufacturing companies. Revenue is generated from monthly/annual rental payments. Lease terms typically range from 1 to over 10 years. Tenants pay per square meter of factory space leased, with pricing varying by zone (Kizuna 1, 2, 3, and Kizuna Space multi-story). The model includes utility charges and service fees bundled into the rental package.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Kizuna leases ready-built, serviced factory and warehouse units to manufacturing companies in Vietnam, with floor areas from 250 m² to 80,000 m² across four zones (Kizuna 1, 2, 3, and Kizuna 3 Extension) and a multi-story factory complex called Kizuna Space. Tenants receive pre-installed utilities (dual EVN power feeds plus solar backup), sprinkler fire protection, freight elevators, and natural ventilation, plus a bundled ecosystem of 50+ support services covering legal, accounting, recruitment, logistics, IT, and environmental management.

Product overview

Kizuna operates as Vietnam's first serviced ready-built factory park, providing a comprehensive ecosystem of industrial real estate and support services. The portfolio consists of four main factory zones: Kizuna 1 (28,540m2), Kizuna 2 (43,900m2), Kizuna 3 (50,000m2), and Kizuna 3 Extension, all located in Tan Kim Industrial Zone, Can Gio District, Tay Ninh Province. Additionally, Kizuna Space (Ready Serviced Space) offers a multi-story factory model with 80,000m2 across 44 units. The company provides over 50 support services including legal assistance, accounting, recruitment, logistics, IT infrastructure setup, business center access, and 24/7 three-layer security. Factory rental areas range from 250m2 to 80,000m2, with floor loading capacities from 370kg to 3,000kg per m2.

Differentiator

Problem solved

Functional benefit

Products and services

• Khu nhà xưởng dịch vụ KIZUNA 1 (Kizuna 1 Serviced Factory Zone)

Quantifiable outcome

• Coasia Itswell Vina saved 12 quarters and preserved 88 billion VND in investment capital by choosing Kizuna JV
• +3 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Ten partnerships are on record, tiered minor.

• Korea Institute of Industrial Technology (KITECH)minorStrategic or Co-development PartnerKizuna partners with KITECH to support Korean manufacturers in establishing operations in Vietnam. The partnership provides Korean companies with facilitated access to Kizuna's ready-serviced factory infrastructure.
• The Japan Business Association in Vietnam (JBAV)minorStrategic or Co-development PartnerKizuna works with the Japan Business Association in Vietnam to connect with Japanese companies seeking factory space in Vietnam, leveraging the association's network and credibility among Japanese investors.
• German Business Association in VietnamminorStrategic or Co-development PartnerPartnership with the German Business Association (GBA) to reach German manufacturing companies interested in Vietnam as a production base.
• KOCHAM (Korean Chamber of Commerce in Vietnam)minorChannel Partner/ Reseller/ DistributorKizuna partners with KOCHAM to facilitate Korean companies' entry into Vietnam through referrals and introductions to Kizuna's factory leasing services.
• AMCHAM (American Chamber of Commerce in Vietnam)minorChannel Partner/ Reseller/ DistributorPartnership with AMCHAM to reach American companies exploring Vietnam for manufacturing operations.
• EUROCHAM (European Chamber of Commerce in Vietnam)minorChannel Partner/ Reseller/ DistributorPartnership with EUROCHAM to facilitate European business connections and referrals to Kizuna's factory leasing services.
• KIP (Korea Industrial Partners / Korea Institute for Industrial Economics & Trade)minorStrategic or Co-development PartnerPartnership with Korean industrial association to support Korean manufacturers in Vietnam.
• GEONGBUK (Gyeongbuk Province, South Korea)minorStrategic or Co-development PartnerRegional economic cooperation partnership supporting companies from Gyeongbuk Province in establishing Vietnam operations at Kizuna.
• IDEC YOKOHAMAminorStrategic or Co-development PartnerPartnership with IDEC Yokohama for industrial development and knowledge sharing in factory/industrial park operations.
• SBG (Saigon BGP / Sah/group)minorStrategic or Co-development PartnerStrategic partner listed on Kizuna's partner page, relationship details not specified.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Viglacera: State-owned industrial park developer in Vietnam operating large-scale industrial zones with factory leasing. Comparable as an incumbent in the Vietnamese industrial real estate market serving FDI manufacturers.
• Sonadezi: Vietnamese state-owned industrial real estate developer with multiple industrial parks (Dong Nai, Ba Ria-Vung Tau). Comparable as a developer of industrial land and factory space for manufacturing tenants in Vietnam.
• Sembcorp Industries (Vietnam): Singapore-based industrial park and utilities operator with Vietnam operations through VSIP joint venture. Comparable as a large-scale industrial real estate developer serving multinational manufacturers across Vietnam.
• Frasers Property Vietnam: Singapore-listed industrial real estate developer with factories, warehouses, and business parks in southern Vietnam. Comparable as a foreign-invested industrial real estate competitor targeting FDI manufacturers.
• Mapletree Vietnam: Singapore-based industrial real estate player with logistics and industrial parks in Vietnam. Comparable as a foreign-backed competitor offering factory and warehouse space to multinational manufacturers in Vietnam.
• Becamex IDC: Vietnam's largest industrial park developer (Binh Duong) with industrial real estate, factories, and serviced infrastructure for FDI. Comparable to Kizuna as a major developer of industrial land and factory space for foreign manufacturers.
• Saigon VRG Investment & Industrial Zone Corporation: Vietnamese industrial real estate company developing industrial parks with factory and warehouse leasing. Comparable as a domestic developer offering industrial space to manufacturers.
• Mitsubishi Estate (Vietnam): Japanese real estate developer with industrial and logistics developments across Asia. Comparable as a foreign capital-backed competitor potentially entering the Vietnam serviced factory market, particularly serving Japanese FDI tenants.

Direct peers

• BW Industrial Development: Vietnam-focused industrial and ready-built factory developer backed by Warburg Pincus. Directly comparable to Kizuna in leasing pre-built factories to FDI manufacturers in Vietnam, including Japanese and Korean tenants.
• Amata Vietnam: Thailand-based industrial estate developer with a major presence in Vietnam (Amata City Bien Hoa, Amata City Ha Long). Directly comparable to Kizuna in providing industrial land and ready-built factories to FDI manufacturers in Vietnam.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/kizunaofficial
• Facebookfacebook.com/kizuna.vn
• LinkedInlinkedin.com/company/kizuna-jv-corporation

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Kizuna