2013-03-18 13:47:57 -

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; 

                            Fukuoka

                  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)

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About Mitsubishi Corporation

<BR /><BR />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&apos;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 www.mitsubishicorp.com.

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