News Release
Business
FUJI OIL HOLDINGS
Establishment of a joint venture for industrial-use chocolate in Thailand
2014.12.18
This is to inform all concerned that, at a meeting of its board of directors held today, Fuji Oil Co., Ltd. has made the decision to establish a new joint venture for the manufacture and sale of industrial-use chocolate in Rayong province in Thailand. The venture is named FREYABADI (THAILAND) CO., LTD., and the partner is McKeeson Investment Pte. Ltd., which is also Fuji Oil’s partner for development of business in chocolate in Indonesia.
1. Objective of Establishment
In Renaissance Fuji 2016, its middle term business plan, the Fuji Oil Group laid down the basic policies of “promotion / acceleration of global management,” “promotion / acceleration of technological management,” and “promotion / acceleration of sustainable management.” In keeping with these policies, it is striving to develop products addressing customer needs, supply high-performance materials, and reduce production costs. For the task of promoting global management, it has posted expansion in the Asian market as one of its priority agenda. To expand its business in industrial-use chocolate in the Thai market, which is projected to achieve further growth on a continuous basis over the coming years, it decided to establish a joint venture there through joint outlays with McKeeson.
2. Profile of the Joint Venture
3. Profile of McKeeson
4. Influence on business result
The influence exerted on our consolidated result in the fiscal year ending on March 31, 2015 by the establishment of this joint venture is anticipated to be slight.
1. Objective of Establishment
In Renaissance Fuji 2016, its middle term business plan, the Fuji Oil Group laid down the basic policies of “promotion / acceleration of global management,” “promotion / acceleration of technological management,” and “promotion / acceleration of sustainable management.” In keeping with these policies, it is striving to develop products addressing customer needs, supply high-performance materials, and reduce production costs. For the task of promoting global management, it has posted expansion in the Asian market as one of its priority agenda. To expand its business in industrial-use chocolate in the Thai market, which is projected to achieve further growth on a continuous basis over the coming years, it decided to establish a joint venture there through joint outlays with McKeeson.
2. Profile of the Joint Venture
| (1) Company name | FREYABADI (THAILAND) CO., LTD. |
| (2) Location | Rayong Province, Thailand |
| (3) Representatives | (Chairman) Tomoyuki Yoshida, (President) William T.K. Chuang |
| (4) Time of establishment | March 2015 (tentative) |
| (5) Business | Manufacture and sale of industrial-use chocolate |
| (6) Fiscal year end | December 31 |
| (7) Paid-in capital | USD 5 million (approx. JPY 590 million) at most |
| (8) Shareholders | Fuji Oil Group: 50% * McKeeson: 50% *Fuji Oil Group outlays will be made by Fuji Oil Asia Pte. Ltd., a wholly-owned subsidiary of Fuji Oil, located in Singapore. |
3. Profile of McKeeson
| (1) Company name | McKeeson Investment Pte. Ltd. |
| (2) Representative | Peter Chong Saow Chong |
| (3) Sales (in the FY ended December 31, 2012) | SGD 54 million (approx. JPY 3.5 billion) |
| (4) Total assets (in the FY ended December 31, 2012) | SGD 66 million (approx. JPY 4.7 billion) |
| (5) Year of establishment | 2001 |
| (6) Location | Singapore |
| (7) Business | Investment and consulting |
4. Influence on business result
The influence exerted on our consolidated result in the fiscal year ending on March 31, 2015 by the establishment of this joint venture is anticipated to be slight.
End of report