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TOKYO, April 3, 2014 - Ajinomoto Co., Inc. (Ajinomoto Co.) and Toyo Suisan Kaisha, Ltd. (Toyo Suisan) signed a joint venture agreement on March 31, 2014 to establish instant noodle business companies in Nigeria and India. The parties plan to apply for incorporation and establish new companies in both countries.
Outline of the New Companies
| (1) Company name: | MARUCHAN AJINOMOTO NIGERIA LIMITED |
| (2) Head office location: | Abuja, Federal Capital Territory, Federal Republic of Nigeria |
| (3) Business description: | Manufacture and sale of instant noodles |
| (4) Capital: | 3.2 billion naira (approximately JPY 2.0 billion)
Note: 1 naira = JPY 0.625 (as of April 1, 2014) |
| (5) Shareholder composition: | Ajinomoto Co., Inc. 50%, West African Seasoning Co. Ltd. 1%,
Toyo Suisan Kaisha, Ltd. 49% |
| (6) Role of companies: | Ajinomoto Group: Support for marketing (product planning/sales)
Toyo Suisan Kaisha, Ltd.: Support for product development/production |
| (7) Business target: | Approximately 500 million servings 10 years after the start of sales (market share of about 15%) |
| (8) Brand: | A&M |
| (9) Start of sales: | Fiscal 2016 (target) |
2. India
| (1) Company name: | MARUCHAN AJINOMOTO INDIA PRIVATE LIMITED |
| (2) Head office location: | Chennai, Tamil Nadu, Republic of India |
| (3) Business description: | Manufacture and sale of instant noodles |
| (4) Capital: | 900 million rupees (approximately JPY 1.5 billion)
Note: 1 rupee = JPY 1.721 (as of April 1, 2014) |
| (5) Shareholder composition: | Toyo Suisan Kaisha, Ltd. 51%, Ajinomoto Co., Inc. 49% |
| (6) Role of companies: | Toyo Suisan Kaisha, Ltd.: Support for product development/production
Ajinomoto Group: Support for marketing (product planning/sales) |
| (7) Business target: | Approximately 500 million servings 10 years after the start of sales (market share of about 15% in the four states of South India*)
[Successive expansion of sales area after securing a foothold in the four states of South India]
* Tamil Nadu, Karnataka, Kerala and Andhra Pradesh
(total population of the four states of South India in fiscal 2011: approximately 250 million) |
| (8) Brand: | A&M |
| (9) Start of sales: | Fiscal 2016 (target) |
Reference
Outline of Ajinomoto Co., Inc.
| (1)Representative: | Masatoshi Ito, Representative Director, President & Chief Executive Officer |
| (2)Location: | 15-1, Kyobashi 1-chome, Chuo-ku, Tokyo, Japan |
| (3)Established: | 1925 (founded in 1909) |
| (4)Net sales: | JPY 1,172.4 billion (consolidated, year ended March 31, 2013) |
| (5)Number of employees: | 27,518 (consolidated, as of March 31, 2013) |
| (6)Business description: | Manufacture and sale of seasonings, processed foods, amino acids,
pharmaceuticals, specialty chemicals, etc. |
Outline of Toyo Suisan Kaisha, Ltd.
| (1)Representative: | Kazuo Obata, Representative Director and President |
| (2)Location: | 13-40, Konan 2-chome, Minato-ku, Tokyo, Japan |
| (3)Established: | 1953 |
| (4)Net sales: | JPY 344.5 billion (consolidated, year ended March 31, 2013) |
| (5)Number of employees: | 4,275 (consolidated, as of March 31, 2013) |
| (6)Business description: | Manufacture and sale of instant noodles, fresh noodles, frozen noodles,
processed foods, etc., seafood business, cold-storage business |
About Ajinomoto Co.
Ajinomoto Co. is a global manufacturer of high-quality seasonings, processed foods, beverages, amino acids, pharmaceuticals and specialty chemicals. For many decades Ajinomoto Co. has contributed to food culture and human health through wide-ranging application of amino acid technologies. Today, the company is becoming increasingly involved with solutions for improved food resources, human health and global sustainability. Founded in 1909 and now operating in 26 countries, Ajinomoto Co. had net sales of JPY 1,172.4 billion (USD 14.1 billion) in fiscal 2012. For more about Ajinomoto Co. (TYO: 2802),visit www.ajinomoto.com.
For further information, please contact here.
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