2011.6.15Partial Transfer of Fuji Oil (Thailand) Co., Ltd. SharesFuji Oil Co., Ltd.'s group company, Woodland Sunny Foods Pte. Ltd. (Head Office: Singapore, President: Taisuke Kanemori, a 100% subsidiary of Fuji Oil Co., Ltd.), transferred part of its holding shares of Fuji Oil (Thailand) Co., Ltd. (Head Office: Rayong Province, Thailand, President: Kazutomo Sho) to J-Oil Mills, Inc. (Head Office: Chuo-ku, Tokyo, President: Sumikazu Umeda).
1. Objective of share transfer
Since Fuji Oil Co., Ltd. formed a business alliance with J-Oil Mills Inc. in 2007, the two have worked together to mutually benefit both companies, including efficient procurement of raw materials/resources, mutual supply of intermediary stock oil, mutual utilization of production facilities, and streamlining of logistics operations. The efforts have driven both companies to improved competitiveness.
The funding for Fuji Oil (Thailand) by J-Oil Mills Inc. via the transfer of shares is also part of such efforts. Fuji Oil (Thailand) Co., Ltd. will strive to strengthen relations with J-Oil Mills, Inc. and further increase competitiveness for both companies through utilization of its oils and fats products to domestic and global markets, and effective use of facilities among other measures.
Fuji Oil Co., Ltd. is currently carrying out measures from its middle term management plan “Global & Quality 2013 – For Sustainable Growth –” (effective FY2011-2013), aiming to further expand its business overseas. The transfer of shares is part of its efforts to achieve such goals.
2. Description of share transfer
10% (73,000 shares) of Fuji Oil (Thailand) Co., Ltd. total outstanding shares possessed by Woodland Sunny Foods Pte. Ltd. were transferred to J-Oil Mills, Inc.
Capital participation after the share transfer is as follows
Woodland Sunny Foods 30%
ITOCHU Corporation 10%
ITOCHU Thailand 10%
J-Oil Mills 10%
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