Qingdao Agricultural By-Products Co., Ltd. agreed to acquire Qingdao Fusheng Foodstuffs Co., Ltd. from Riken Vitamin Co., Ltd. for CNY 1.
June 07, 2021
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Qingdao Agricultural By-Products Co., Ltd. agreed to acquire Qingdao Fusheng Foodstuffs Co., Ltd. from Riken Vitamin Co., Ltd. (TSE:4526) for CNY 1 on June 8, 2021. Post completion, Qingdao Fusheng Foodstuffs will be excluded from the scope of consolidation of Riken Vitamin. As of December 31, 2020, Qingdao Fusheng Foodstuffs reported total assets of CNY 700.61 million, sales of CNY 229.19 million, negative EBIT of CNY 248.55 million and net loss of CNY 343.58 million. The transaction was resolved by the board of director of Riken Vitamin on June 8, 2021. The transaction is expected to close in late June, 2021.
RIKEN VITAMIN CO., LTD. is a Japan-based food processing company. The Company operates its business through three segments. The Domestic Food segment is primarily engaged in the manufacture and sale of household food products, commercial food products and raw materials for food processing, including seaweed products, dressings, food extracts and seasonings, food improving agents, vitamin and health food. The Domestic Chemicals and Others segment is mainly engaged in the manufacture and sale of chemical improving agents and animal feed additives. The Overseas segment is mainly engaged in the manufacture and sale of improving agents for food and chemical products, as well as processed marine products and frozen vegetables. The Company distributes its products in Japan, Southeast Asia, South Asia, the Middle East, Oceania, Europe, Africa, the North America, Latin America, China, Taiwan and South Korea, among others.
RIKEN VITAMIN CO., LTD. 