Takeda Pharmaceutical and House Foods Form Business Alliance.Tokyo Tokyo (tō`kēō), city (1990 pop. 8,163,573), capital of Japan and of Tokyo prefecture, E central Honshu, at the head of Tokyo Bay. , Japan, Dec 26, 2005 - (JCN JCN Japan Corporate News JCN Journal of Cognitive Neuroscience JCN Journal of Cardiovascular Nursing JCN Journal of Christian Nursing JCN Job Control Number JCN Journal of Child Neurology JCN joint communications network (US DoD) ) - Takeda Pharmaceutical and House Foods Corporation announced December 26 that they will establish a new joint venture, to which all the business of Takeda Food Products will be transferred. This agreement is subject to the approval by Japan Fair Trade Commission in view of the antimonopoly act. House Foods and Takeda will own 66% and 34% of the shares of the new joint venture respectively, and it is scheduled to start its operation in April 2006. Eighteen months later, the 34% shares owned by Takeda will be transferred to House Foods and the joint venture will become a 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. of House Foods. House Foods has a main line of products of processed cooking preparations such as curry and stew mixes, retort re·tort n. A closed laboratory vessel with an outlet tube, used for distillation, sublimation, or decomposition by heat. retort a globular, long-necked vessel used in distillation. foods and spices, while it is nurturing beverage and health food products as the future core business. This agreement will support House Foods strategies to expand such business by adding the Takeda Food' products such as "C1000 Vitamin Lemon" drink and "C1000 Lemon Water" and others. In addition, the synergy The enhanced result of two or more people, groups or organizations working together. In other words, one and one equals three! It comes from the Greek "synergia," which means joint work and cooperative action. effect is expected from the fusion of Takeda Food' development ability centered on vitamin products and House Foods' food-processing technology. Copyright [c] 2005 Japan Corporate News Network. All rights reserved. |
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