October
15, 2004
Establishment
of a Joint Venture in Spain
Please be informed that Nippon Suisan Kaisha, Ltd. (Naoya Kakizoe, President & CEO)
has established a joint venture corporation (Europacifico Alimentos del
Mar SL (headquartered in Vigo)) in Spain with the objective of selling
marine products in southern Europe.
In its globalization strategies that are presented in the company's medium-term
business plan, the "TGL Plan," Nissui positions the European market as
one of the key marine products markets, after Japan and North America.
In accordance with this plan, Nissui made an equity participation in JP
Klausen (JPK), which is a European sales company of Sealord (NZ), in September
2003 and integrated Nissui's northern European sales functions.
The new corporation that has just been established consolidates the
selling functions of the group companies in southern Europe. Together
with JPK, the new company forms the base for Nissui Group to sell into
the European marine products market. By coordinating the two companies'
functions within the group, we will strive to gain access to the market
with efficiency.
| [Outline of the New Corporation] |
| Company Name: |
Europacifico Alimentos del Mar SL |
| Representative: |
Mr. David Ellis (CEO) |
| Purpose: |
Sale of marine products of the group companies, as well as purchase
and sale of other marine products, in southern Europe (mainly in Spain
and Portugal) |
| Address: |
Head Office: Vigo Branches:
Bilbaos, Valencia (both in Spain) |
| Capital: |
100 million Euros (Approximately 130 million yen) |
| Shareholders: |
Friosur (Chile: 45% owned by Nissui) 40% |
|
Sealord(NZ: 50% owned by Nissui) 40% |
|
Nissui Europe(Netherlands: 100% owned by Nissui) 20% |
| Date of Incorporation: |
October 1, 2004 |
| Employees: |
18 |
| [Summary Information on JP Klausen] |
| Company Name: |
JP Klausen Seafood Investment, Aps |
| Address: |
Svendborg, Denmark |
| Capital: |
140,000DKK (Approximately 2.5 million yen) |
| Sales: |
8.0 billion yen |
| (Nissui's ownership percentage: 15%. The other major
investor: Sealord) |
