Metal parts and equipment maker Nissin Electric Co of Japan will build a plant in Myanmar, relocating some manufacturing processes from Thailand and Vietnam. According to an article in the Bangkok Post, the move is to cut labor costs in its contract manufacturing business. The company will form a joint venture with Hosoda Holdings Co, Nissin’s sales agent in the Myanmar market, in the Thilawa SEZ. The company will move mounting of device frames and welding to the new plant in Myanmar. Nissin will hold a 95 percent stake and Hosoda the remainder in the Myanmar venture. Registered capital of the entity will be USD 1.5 million. The JV projects 600 million yen ($5.5 million) revenue in five years after the start of operations, Naoki Taira, spokesman for the Japanese company, said.