September 1, 2008

Nippon Meat Packers Inc. has announced that it would be dissolving its prepared foods subsidiary Premier Deli Co., Ltd.

As part of the restructuring plan of the company's production sites, the production of prepared foods by Wakayama-based Premier Deli would be taken over by Nippon Ham Shokuhin Co., Ltd in Kuwana-gun, Mie Prefecture.

The closure may lead to a loss of about JPY 900 million (US$8.3 million), which has been taken into account in the forecast of the company's business results for the current fiscal year, according to Nippon Meat.

Back in July 2008, Nippon Meat also announced the dissolving of subsidiary Fujian-based South China Nippon (Xiamen) Food Trading Co. Ltd. The subsidiary's business involves the sales of processed seafood products, agricultural and stock farm products. However, the dissolving of this subsidiary is not expected to cause any significant loss to the company.