News Release

Business

FUJI OIL HOLDINGS

Notification of Stock Acquisition of Industrial Chocolates Company in Malaysia

2016.5.30

Fuji Oil Asia Pte. Ltd., a subsidiary of the Fuji Oil Group, reached an agreement with Guan Chong Bhd. for acquisition of 70 percent of the outstanding shares of the latter’s subsidiary, GCB Specialty Chocolates Sdn. Bhd. The agreement is outlined below.

1.Purpose of stock acquisition

The basic policies contained in “Renaissance Fuji 2018”, the new mid-term management plan formulated by the Fuji Oil Group, are promotion and acceleration of sustainable, global, and technology management. The aim is the emergence into a global corporate group supporting delicious and healthy food. The Asian market is projected to achieve even more sustainable growth, and is positioned as a priority area in the plan. In the context of its business strategy, Fuji Oil also aspires to be one of the world’s leading enterprises of hard butters for chocolate and of compound chocolate using these hard butters. This stock acquisition is a part of this strategy.

GCB Specialty Chocolates Sdn. Bhd. is located close to one of the oils and fats sites of Fuji Oil Asia, and may be expected to induce synergistic effects for the further expansion of Fuji Oil’s industrial chocolate business worldwide. These considerations are behind the decision to acquire the stock.

We are determined to expand our industrial chocolate business in Asia by drawing fully on our oils and fats technology, which is our key strength, and the development and proposal capabilities of our Asia R&D Center.

2. Profile of GCB Specialty Chocolates Sdn. Bhd.

(1)
Name		 GCB Specialty Chocolates Sdn. Bhd.
(2)
Representative director		 Ben Tay How Yeh
(3)
Location		 Johor, Malaysia
(4)
Business		 Manufacture and sale of industrial chocolate
(5)
Accounting period end		 December 31
(6)
Capital		 20,000,000 Malaysian ringgit
(about 540 million yen)
(7)
Date of signing contract		 May 30, 2016
(8)
Shareholder composition		 Guan Chong Bhd.  92.50%
Mr. Teoh Boon Hak  7.50%
(9)
Date of stock transfer		 The end of July 2016 (tentative)

Below: Profile after the stock transfer

(10)
Representative director		 President  
Hitoshi Shindachi
from Fuji Oil Asia (tentative)
(11)
Shareholder composition		 Guan Chong Bhd.  92.50%
Mr. Teoh Boon Hak  7.50%

3. Profile of Guan Chong Bhd.

(1)
Name		 Guan Chong Bhd.
(2)
Representative director		 Brandon Tay Hoe Lian
(3)
Location		 Johor, Malaysia
(4)
Business		 Manufacture and sale of cacao materials

End of text

 

 

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