New Company Being Established in Thailand

A new company − Fuji Oil (Thailand) Co., Ltd. − is being established in Thailand as a joint venture between Fuji Oil and its subsidiary Woodland Sunny Foods Pt. Ltd. (Head office: Singapore, President: Taisuke Kanemori), ITOCHU Corporation (Head office: Tokyo, President: Eizo Kobayashi), and ITOCHU (Thailand) Ltd. (Head office: Thailand, President: Toshihide Hashima).

Expanding globally, the Fuji Oil Group already has six companies in Southeast Asia, where demand is steadily growing. The Thai market in particular has enjoyed exceptional growth, making it a key market in the region. Thailand's economic indictors remain strong compared to the countries around it and substantial growth is anticipated in the food products market, including the confectionery and bakery sector.

The new company will enable the Fuji Oil Group to expand outward from Thailand to Cambodia and Vietnam in the Mekong River delta, further boosting sales of oils and fats for confectionery and baking use. Utilizing the Fuji Oil Group's network throughout Southeast Asia and the world, technological expertise from Japan and other countries will provide the driving force for proactive marketing.

Locating production close to the area of consumption will also contribute from an environmental perspective by reducing energy expenses, such as for transport, as well as related CO2 emissions.

Outline of the New Company

(1) Name:	Fuji Oil (Thailand) Co., Ltd.
(2) President:	Kazutomo Sho (from Fuji Oil)
(3) Location:	Amata City Industrial Park, Rayong Province, Thailand
(4) Date established:	Scheduled for late January 2010
(5) Line of business:	Production and sales of oils and fats, and ingredients for confectionery and bakery use
(6) End of fiscal year:	December 31
(7) Paid-in capital:	730 million Thai baht (approx. 2 billion yen)
(8) Capital participation:	Fuji Oil Co., Ltd.: 40% Woodland Sunny Foods Pt. Ltd.: 40% ITOCHU Corporation: 10% ITOCHU (Thailand) Ltd.: 10%
(9) Start of production:	Scheduled for February 2011
(10) Sales target:	1,740 million Thai baht (approx 4.8 billion yen) for fiscal 2012
(11) Factory site area:	Approx. 35,000 m2
(12) Amount of investment:	Approx. total of 2.2 billion yen for land, plant, equipment, etc.
(13) Number of employees:	67 (4 Japanese and 63 local staff)
(14) Schedule:	Company to be establishment in late January 2010, plant construction from February 2010, start of production from February 2011

End of report