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Tokyo, June 19, 2014 - Ajinomoto Co., Inc. (Ajinomoto Co.) entered into a joint venture agreement with Toyo Suisan Kaisha, Ltd. (Toyo Suisan) on June 18, 2014 to establish a frozen noodle production company in North America. Ajinomoto Co. plans to apply for incorporation and establish the new company.
Outline of the New Company
| (1) Company name: |
Ajinomoto Toyo Frozen Noodles Inc. |
| (2) Head office location: |
Portland, Oregon, United States of America |
| (3) Business description: |
Manufacture of frozen noodles |
| (4) Capital: |
USD 20 million (Approx. JPY 2.03 billion)
Note: USD 1 = JPY 101.66 (as of May 31, 2014) |
| (5) Equity ownership: |
Ajinomoto Group 80%
Toyo Suisan Kaisha, Ltd. 20% |
| (6) Role of companies: |
Ajinomoto Group: Business management support
Toyo Suisan Kaisha, Ltd.: Production/development support |
| (7) Sales target: |
Approximately 6,800 tons 10 years after the start of sales |
| (8) Brand: |
AJINOMOTO® and others |
| (9) Start of sales: |
Fiscal 2015 (scheduled) |
Reference
Overview 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 991.3 billion (consolidated, year ended March 31, 2014) |
| (5) Number of employees: |
27,579 (consolidated, as of March 31, 2014) |
| (6) Business description: |
Manufacture and sale of seasonings, processed foods, amino acids,
pharmaceuticals, specialty chemicals, etc. |
Overview of Toyo Suisan Kaisha, Ltd.
| (1)Representative: |
Kazuo Obata, President and Representative Director |
| (2)Location: |
13-40, Konan 2-chome, Minato-ku, Tokyo, Japan |
| (3)Established: |
1953 |
| (4)Net sales: |
JPY 372.2 billion (consolidated, year ended March 31, 2014) |
| (5)Number of employees: |
4,566 (consolidated, as of March 31, 2014) |
| (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 and regions, Ajinomoto Co. had net sales of JPY 991.3 billion (USD 11.0 billion) in fiscal 2013. For more about Ajinomoto Co. (TYO: 2802), visit www.ajinomoto.com.
For further information, please contact here.
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