Mitsubishi Corporation acquires Kirin Holdings' Food Science Bus

Mitsubishi Corporation acquires Kirin Holdings' Food Science Business 
Business Seeks to Increase its Value Proposition and Provide the Global Food
Processing Industry with Scaled up Food Flavoring Innovation 
Tokyo, Mar 18, 2013 - (JCN Newswire) -  Kirin Holdings Company, Limited (KH)
and Mitsubishi Corporation (MC) are pleased to announce that they have entered
into a share transfer agreement, whereby all shares of KH's food science
subsidiary, Kirin Kyowa Foods Company, Limited (KKF), will be transferred to
MC. MC will purchase about 81% of KKF shares in July 2013 and the remainder in
January 2015. 
KKF is a leading domestic company, which draws on its rich expertise in food
processing technology to supply large-scale food processors and retail food
chains. Through its operations in Japan, Indonesia and China, the company
produces a variety of ingredients and flavor enhancing products which include
yeast extracts, nucleotides and hydrolyzed proteins. 
The global market for food ingredients and flavoring materials is said to be
valued at US$120 billion. This market continues to show growth, fuelled by
rapid economic expansion in China and other Asian countries. As emerging
economies aim to achieve higher standards of living, and developed countries
like Japan grapple with aging populations and declining birth rates most major
economies are working to develop more sustainable health practices. These
social changes give rise to a changing market environment, due to increased
demand for food products that are delicious and healthy from safe and secure
sources. As the global market expands, the market for natural flavors has
reached US$10 billion and the market for products such as yeast extracts, in
particular, are showing rapid expansion. The market for flavor enhancing
ingredients is therefore expected to see continued growth in the coming years. 
With food sciences as its main line of business, MC's Chemicals Group
organized the "Life Sciences Division" in April 2011. The purpose of
this division is to leverage its strengths in the "science" and the
high-end "food technology" fields and to take advantage of the
company's extensive network. Mitsubishi Corporation Life Sciences Limited
(MCLS) was established in November 2012 as a wholly owned subsidiary of MC.
MCLS brings together two existing subsidiaries - Mitsubishi Shoji Foodtech Co.,
Ltd., which specializes in sweeteners and seasonings, and KOHJIN Life Sciences
Co., Ltd. which specializes in fermentation technology - under one umbrella.
Adding KKF to this group as a core entity will allow for the consolidation of
their collective food innovation capabilities and technical know-how. This
strengthens the group's value proposition and enables an improved response
to sophisticated customer needs. This further allows the development of further
business opportunities making the group one of the leading companies in the
global industry. 
About Kirin Kyowa Foods Company, Limited 

Headquarters:     2-2-8 Higashi Shinagawa, Shinagawa-ku, Tokyo
Main Business:    Manufacture and sales of flavoring materials,
                  seasonings, bakery ingredients, and varieties
                  of other food ingredients.
Representative:   Soichiro Katsura - President
Date Established: April 1, 2009 (current name changed from original)
No. of Employees: 692 (1,585 on a consolidated basis)(as of 6/30/12)
Locations:        Factories: Tsuchiura, Ibaraki; Nikko, Tochigi (Japan)
                  Branches: Sapporo; Sendai; Nagoya; Osaka; Hiroshima;
                  R&D Centers: Tsuchiura, Ibaraki; Nikko, Tochigi (Japan)
                  Affiliated Companies: Kirin Kyowa FD Company, Limited;
                            Kirin Ohland Foods Company, Limited
                  Overseas Locations: Kirin Kyowa Foods (Jiang Ying) Co.,
                          Ltd. (China); PT. Kirin-Miwon Foods (Indonesia)

About Mitsubishi Corporation 
Mitsubishi Corporation (MC; TSE: 8058) is a global integrated business
enterprise that develops and operates businesses across virtually every
industry including industrial finance, energy, metals, machinery, chemicals,
foods, and environmental business. MC's current activities are expanding
far beyond its traditional trading operations as its diverse business ranges
from natural resources development to investment in retail business,
infrastructure, financial products and manufacturing of industrial goods. With
over 200 bases of operations in approximately 80 countries worldwide and a
network of over 500 group companies, MC employs a multinational workforce of
nearly 60,000 people. For more information, please visit 
Mitsubishi Corporation
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