The notification of a joint venture company foundation in Malaysia to produce and sell value added palm oil fractions
1. Purpose of the joint venture company
Fuji Oil Group formulated the midterm management plan “Towards a Further Leap 2020” and deploys a growth strategy centered around “reinforcement of core competence,” “growth of soy business,” and “development of function enhanced, high value-added business.” By bolstering its marketing in response to the greatly changing market, we shall make sure to expand the markets and product groups in which we can exercise our strength.
Palm oil is a key raw material for the Fuji Oil Group, and we consider aiming for sustainable procurement of palm oil to be our responsibility to society. In March 2016, we formulated and announced our Responsible Palm Oil Sourcing Policy, and commit ourselves to procuring palm oil produced in a responsible manner from suppliers who respect people and the global environment.
The joint venture company founded this time will secure the procurement of high quality, traceable and sustainable palm oil from a well-managed plantation area of 18,000 ha owned by UNITED PLANTATIONS BHD. in Malaysia, and will produce and sell high value added palm oil fractions at its newly built fractionation plant in the plantation by utilizing the biomass and waste water to produce energy. The demand for the traceable and sustainable palm oil is increasing in the European market. Such demand is expected to extend also to the Japanese market, arising from international sports events in the coming years, such as the Olympic Games. Fuji Oil Group shall be actively engaged in the supply of traceable and sustainable palm oil also in the Japanese market.
2. Profile of the joint venture company
|（1）Name of the Company||UNIFUJI SDN. BHD.|
|（2）Representative Director||Will be selected from UNITED PLANTATIONS BHD.|
|（4）Commissioning date||June, 2018|
|（5）Business||Production, sale and export of high value added palm oil fractions|
|（6）Accounting period end||December 31st|
|（7）Capital||60 million Malaysian Ringgit|
|（8）Shareholder composition||FUJI OIL ASIA PTE. LTD. 50.00％ |
UNITED PLANTATIONS BHD. 50.00％
3. Profile of UNITED PLANTATIONS BHD
|（1）Name of the Company||UNITED PLANTATIONS BHD.|
|（2）Representative Director||DATO’ CARL BEK-NIELSEN|
|（4）Business||Cultivation of palm and coconut|
End of report