News Release

2011.1.4President's Message for the New Year

Happy New Year! I would like to thank all of you for your patronage throughout the year 2010.

Last year, the food industry in which we are placed in was confronted with thrifty consumer spending, lower pricing trends and the extremely hot weather during the summer. We expect to see unfavorable conditions to continue, including structural issues such as the appreciation of the yen, deflation, low growth and population decrease together with demand to alleviate environmental burdens. Amid such conditions, Fuji Oil announced the "Quality for the Japanese Market, Quantity for the Overseas Markets" strategy effective from last year, and has aimed for maintenance and increase of shares through continual reinforcement of our core businesses, completion of the soy protein business's “revitalization plan", acceleration of overseas business expansions, and promotion of environmental management and qualitative enhancement of the finance structure. We will continue on to approach all of the issues above in an aggressive manner. In particular, we place great emphasis on the expansion of overseas businesses, and plan on pursuing this agenda proactively. Last year, we established Fuji Oil Thailand which will start business this year. In addition, Fuji Oil also established a joint venture handling oils and fats processing with Indonesia's major plantation firm Musim Mas as well as Fuji Oil South America in Brazil as one of our overseas sales office in December, with both companies looking to start operations this year. Fuji Oil seeks to expand businesses particularly in developing countries where significant growth is expected, and aims to ingrain our quality assurance and proposal-oriented business model fostered in Japan throughout the global market.

By realizing Fuji Oil's corporate philosophy, “Contributing to healthier and happier living through the creation of contemporary eating habits as well as fine foods", we believe it is our mission to contribute to each of our stakeholders' happiness. We will gear to securing raw material resources that harmonize with the natural environment, developing a manufacturing system that requires less environmental burdens, coexisting with local communities and delivering safe and high quality products and services.

Fuji Oil has established its corporate message upon celebrating the 60th anniversary last October - "Simply Unique" Since our inception, we have always embraced the founding spirit of the company "not imitating others", and with the help of our customers, made progress over the years in the oils and fats, confectionary and baking ingredients, as well as our soy protein divisions. Fuji Oil will contribute to the society with technology, products, and proposals that are simply unique. Despite being in midst of a challenging environment, Fuji Oil will start a new history in its 61st year with combined efforts of our employees, everyone of whom possess uniqueness that is unlike any other.

Thank you and we greatly look forward to your support and guidance for our endeavor together this year.

January 1, 2011
Yoshitaka Ebihara
President and CEO, Fuji Oil Co., Ltd.

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