Nov 23, 2005. /Lesprom Network/. Japanese leading paper stationery manufacturer Kokuyo Co will set up a manufacturing subsidiary in Vietnam on November 23, 2005. The subsidiary, named Kokuyo Vietnam, will have a capital of JPY 940 million ($7.9 million). Kokuyo will invest JPY 2.8 billion ($23.5 million) to build a factory of the subsidiary. The construction of the factory will start in January 2006 and will be completed in August 2006. The factory will cover a total floor space of 27,000 square meters. The production target of the factory is fixed at JPY 900 million ($7.5 million) for the first year of operations and JPY 5.0 billion yen ($41.9 million) in 2008. Initially, Kokuyo will export most of the paper stationery and office supplies to be produced at the factory in Vietnam to Japan.