KANGAROO INTERNATIONAL JOINT VENTURE COMPANY

Few Vietnamese home-appliance brands have achieved the national recognition of KANGAROO GROUP, known for water purifiers, kitchen appliances, and household technology products. But behind the well-known brand image lies a corporate structure that is far more complex — and a financial story that is more fragile than most consumers imagine.

A Rapidly Privatised Consumer Brand with International Shareholders

KANGAROO INTERNATIONAL JOINT VENTURE COMPANY — established in 2021 — is not simply a local enterprise. It reflects a hybrid ownership structure:

• 44% owned by Noritz Corporation (Japan)

• 42.25% owned by Vietnam Australia Refrigeration Engineering (Vietnam)

• 13.75% owned by Kangaroo Hi-Tech Manufacturing (Vietnam)

This combination of Japanese engineering culture and Vietnamese distribution muscle has helped the brand expand rapidly across the country.

But 2023 Was a Challenging Year

Despite its strong consumer presence, the company’s 2023 financial performance shows clear signs of strain:

• Sales fell -22.12%, from USD 110.6M → 86.17M

• Profit dropped -46.61%, to USD 308,901

• Equity slipped -3.97%

• Working capital contracted heavily, down -51.64%

This suggests that the home appliance market — especially mid-range consumer goods — faced tightening demand, more competition, and shifting consumer spending behavior.

A Brand That Must Navigate Rising Competition

Kangaroo faces intensified competition from:

• Xiaomi home appliances

• Korean brands like Kangaroo, Sharp, and Samsung

• Chinese brands are leveraging aggressive pricing

• Local Vietnamese manufacturers scaling up production

While Kangaroo’s RO water purifiers remain a household name, sustaining market share in air purifiers, water heaters, and smart home devices requires significant innovation and capital.

Operational Strengths Behind the Brand

Kangaroo’s financial challenges should not overshadow its structural capabilities:

• 1,000 employees

• Presence in both Hanoi and Ho Chi Minh City

• Nationwide distribution network

• Aggressive marketing and brand investment

• Strong Japanese technological support

These elements give the company resilience, but the 2023 downturn signals the need to adjust pricing strategies, diversify products, and optimize operational efficiency.

What Investors and Suppliers Should Monitor

1. Sharp Decline in Revenue

A -22.12% decline indicates tightening market demand and competitive pressure.

2. Weak Profitability

Profit of USD 308,901 is low for a company of this size.

3. High Asset Base (USD 103.88M)

A significant asset base combined with low profit reduces returns on investment.

4. Joint Venture Governance

Multiple shareholders mean more complex management dynamics.

5. Consumer Market Volatility

Home appliances depend on consumer confidence, which is easily affected by economic slowdowns.

The Brand Is Strong — The Business Needs Reinforcement

Kangaroo remains one of the most recognized appliance brands in Vietnam. But recognition alone is not enough. To maintain its position, the company must:

• Strengthen profitability

• Streamline costs

• Accelerate product innovation

• Expand high-margin categories

• Leverage Japanese technology to differentiate itself

Consumers trust the brand. Investors, however, should rely on updated, verified performance data.

For the newest financial figures, payment behavior, credit risks, and strategic insights, please obtain the latest Kangaroo Group report directly from VNBIS.COM.