October 9, 2007

Japan's Nippon Suisan to invest US$10.2 million in expansion

Japanese seafood processing company Nippon Suisan Kaisha will invest a total 1.2 billion Japanese yen (US$10.2 million) in three Japanese food processing companies and a Taiwanese frozen food producer, the company said October 6, 2007.

The investments are aimed at improving Nippon Suisan's processed foods production and food operation capability, according to the Shikoku Shimbun daily.

The three Japanese food processing companies are Kaneko Shokuhin in Kagawa, western Japan, Kunihiro in Hiroshima, western Japan, and Marusa Sasatani Shoten in Hokkaido, northern Japan. The Taiwanese company is Daming Foods Industries.

Nippon Suisan will hold a 20.5 percent stake in Kaneko Shokuhin, which has a registered capital of US$341,700 and posted US$257,000 in revenue for fiscal 2006/2007, ended February 28, 2007.

Nippon Suisan will also have a 20.5 percent stake in Kunihiro, with a registered capital of US$768,900 and which posted US$649,474 sales revenue for fiscal 2006/2007, ended June 30, 2007.

Nippon Suisan would also have a 25 percent stake in Daming Food Industries with a registered capital of US$3.1 million and which reported a US$10.1 million revenue for 2006.