News Release



Construction of a New Plant for Soy Peptides in China


Fuji Oil Co., Ltd. has decided to construct a new plant in Tianjin, China to produce soy peptides, the demand for which is rapidly increasing, and accordingly has recently established a new company called Tianjin Fuji Protein Co., Ltd.

The new company is constructing a plant with an annual soy peptides production capacity of about 3,000 metric tons and with a total investment of about 30 million US dollars, on a site of approximately 56,000 square meters in the Tianjin Economic and Technical Development Zone, adjacent to the port of Tianjin. The company aims to complete the first stage of construction and commence operations in April, 2005. The new company plans to procure the raw materials of soy peptides from Jilin Fuji Protein Co., Ltd. (a group company) and sell its products in China, Japan and other overseas markets.

Outline of the New Company
President: Takeshi Akasaka (Planned - to be transferred from Fuji Oil Co., Ltd.)
Capital: US$12 million (95% by Fuji Oil Co., Ltd. and 5% by Itochu (China) Holding Co., Ltd.)
Business: Development, Production and Sale of Soybean Functional Ingredients and Feed, such as Soy Peptides