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TOKYO, August 18, 2015 – Ajinomoto Co., Inc. (“Ajinomoto Co.”) and T.HASEGAWA CO., LTD. (“T.HASEGAWA”) have reached an agreement on a business alliance regarding research, development and commercialization of natural flavors using biotechnologies and fermentation technologies (hereafter, “fermentation-derived natural flavors”) and entered into a contract today.
| For more than a century, Ajinomoto Co. has been pursuing “deliciousness” through taste and food texture technologies. The “deliciousness” of food is determined not by its taste and texture alone, but also by the flavors that enhance these characteristics. Through a business alliance with T.HASEGAWA, a flavor company with world-class materials and technologies, Ajinomoto Co. will develop more substantive technologies to freely control “deliciousness” with the aim of providing the comprehensive value of “deliciousness” to meet the needs of customers in every country. |
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The global flavors market is worth approximately JPY 1.4 trillion, and continues to grow steadily. Within this market, the natural flavors category has grown notably in recent years, backed by a consumer trend toward natural beverages and foods, and high growth is expected to continue. Legal regulations in Europe and the United States define natural flavors as products extracted from or created through fermentation of natural materials. Extraction is currently the most commonly used method, but it has issues of securing raw materials and cost. Consequently, methods using fermentation have been attracting attention in recent years.
With a declared commitment to building on a solid foundation of technology, T.HASEGAWA is using its detailed service, characteristic of a Japanese manufacturer, and its technological capabilities to expand its global operations. It focuses on solutions-oriented sales, in which its R&D and sales divisions act in coordination to resolve customer issues, primarily with high-quality, high-value-added compound flavors and fragrances based on its original technologies. On the other hand, Ajinomoto Co. has original, cutting-edge biotechnologies and fermentation technologies that it has accumulated through the development and production of amino acids. In addition, with bases in 26 countries and regions, it conducts various businesses including foods, amino acids and pharmaceuticals, and the Ajinomoto Group products are sold in more than 130 countries and regions.
The business domains of T.HASEGAWA and Ajinomoto Co. are mutually complementary. The companies will combine T.HASEGAWA’s flavor refining and formulation technologies with Ajinomoto Co.’s biotechnologies and fermentation technologies and utilize the business foundations of both companies to accelerate research, development and commercialization of fermentation-derived natural flavors, which are specialty materials. Through this business alliance, the companies aim to launch fermentation-derived natural flavors and develop business globally within the next several years. In addition, to increase the effectiveness of the business alliance, Ajinomoto Co. will acquire 900,000 shares (2.11%) of treasury stock of T.HASEGAWA at a cost of approximately JPY 1.6 billion through a third-party allocation.
The effect of this matter on fiscal 2015 results is immaterial.
Overview of T.HASEGAWA
| (1) Company name: |
T.HASEGAWA CO., LTD. |
| (2) Location: |
Hatchobori Center Building 5th Floor, 4-6-1, Hatchobori, Chuo-ku, Tokyo, Japan |
| (3) Representative: |
Takahiko Kondo, President & COO |
| (4) Established: |
December 1961 |
| (5) Capital: |
JPY 5,364 million |
| (6) Business description: |
Production, sales, imports and exports of fragrances, flavors, aromatic chemicals, food additives and foods |
| (7) Number of employees: |
1,320 (as of September 30, 2014) |
| (8) Net sales: |
JPY 44,917 million (fiscal year ended September 2014) |
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 1,006.6 billion (USD 9.17 billion) in fiscal 2014. For more about Ajinomoto Co. (TYO: 2802), visit www.ajinomoto.com.
For further information, please contact here.
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