Sojitz Corporation completed the acquisition of The Marine Foods Corporation from NH Foods Ltd..
March 31, 2022
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Sojitz Corporation (TSE:2768) agreed to acquire The Marine Foods Corporation from NH Foods Ltd. (TSE:2282) on February 9, 2022. For the year ending on March 31, 2021, The Marine Foods Corporation reported net assets of ¥6.035 billion, total assets of ¥32 billion, net sales of ¥84 billion, operating income of ¥2 billion and net income of ¥1.207 billion. The transaction is expected to close on March 31, 2022.
Sojitz Corporation (TSE:2768) completed the acquisition of The Marine Foods Corporation from NH Foods Ltd. (TSE:2282) on March 31, 2022.
Sojitz Corporation is a diversified group organized around 10 business segments:
- distribution of chemicals products (25.4% of sales): organic, basic and specialty chemicals, plastic products, resins, etc;
- mining operations (22.2%): coal mining, alumina refining, sale of steel products and ferrous and non-ferrous metals, etc;
- distribution of large consumer products (17.6%): clothing and accessories, textile products, home and decorative articles, etc;
- automobile assembly and sales (11.6%);
- production and sale of food products and ingredients (7.8%);
- sale of industrial machinery and equipment and development of health facilities (6.9%);
- development and operation of energy and telecommunications infrastructure (3.6%);
- industrial infrastructure operation, property management and urban development (2%);
- aircraft and ship sales (1.7%). The group also develops activities in the operation of airport and rail infrastructure;
- other (1.2%): provision of financial services, logistics services, consulting, etc.