Ajinomoto sets up unit in charge of fund management+.TOKYO, Nov. 27 Kyodo Ajinomoto Ajinomoto Co., Inc. (味の素株式会社 Co., a major foodstuff maker, said Monday Monday: see week. it has formed a subsidiary in charge of overseeing fund management at the parent company and its 17 domestic subsidiaries subject to group earnings. The new wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Ajinomoto Treasury Management Inc., is capitalized Capitalized Recorded in asset accounts and then depreciated or amortized, as is appropriate for expenditures for items with useful lives longer than one year. at 500 million yen with its headquarters at the parent-company's head office. Ajinomoto wants to use the new unit to hedge the company and its subsidiaries against losses from unexpected foreign exchange rate and interest rate swings, it added. In parallel, Ajinomoto said it will integrate its accounting division with those of its factories and research institutes to form an independent corporate entity with an eye to enhancing supervisory functions and cutting costs. |
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