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Mitsui & Co., Ltd. ("Mitsui" Head Office: Tokyo, President and CEO: Masami Iijima) has agreed with Minh Phu Seafood Joint Stock Company ("MP") to participate in management of Minh Phu Hau Giang Limited Liability Company ("MPHG"), an affiliated company of MP who is the biggest shrimp related business company in Vietnam and is engaged in shrimp processing and exporting under MP group, and has finalized the related contracts on 19th October 2013. Mitsui will take a third-party allocation of new shares of MPHG, finally acquiring a 31% ownership stake in MPHG.
MP is the largest vertically-integrated Vietnamese shrimp processing company and exporter, with operation across the full aquaculture process from post-larvae rearing, shrimp farming, processing and sale & export, and their total volume of export is about 15% of total exporting volume from Vietnam.
MP exports their products to US, Europe, Japan, Korea, Canada and Australia, and has expanded their operation to reach customers across the globe.
Mitsui has developed business relationship with MP through its business to Japanese market. Taking this opportunity of participation and investment into MPHG, Mitsui will strengthen the partnership with MP group and contribute its business expansion and selling their products in global market.
|Name||Minh Phu Seafood Joint Stock Company|
|Location||Ho Chi Minh city, Socialist Republic of Vietnam|
|Capital||Listed in Ho Chi Minh Stock Exchange market|
|Representative||Le Van Quang/Chairman of the Bod & General Director|
|Business Activities||Shrimp larvae, farming, processing and exporting|
|Name||Minh Phu Hau Giang Seafood Processing Limited Liability Company
* MPHG will be converted from LLC to Joint Stock Company in time with Mitsui's investment.
|Location||Can Tho city, Socialist Republic of Vietnam|
|Capital (after acquisition)||MP & Minor shareholder:69%
Mitsui& Co.(Asia Pacific) Pte. Ltd.:31%
|Representative||Chu Thi Binh/General Director|
|Business Activities||Shrimp processing and exporting|
This announcement contains forward-looking statements. These forward-looking statements are based on Mitsui's current assumptions, expectations and beliefs in light of the information currently possessed by it and involve known and unknown risks, uncertainties and other factors. Such risks, uncertainties and other factors may cause Mitsui's actual results, financial position or cash flows to be materially different from any future results, financial position or cash flows expressed or implied by these forward-looking statements. These risks, uncertainties and other factors referred to above include, but are not limited to, those contained in Mitsui's latest Annual Securities Report and Quarterly Securities Report, and Mitsui undertakes no obligation to publicly update or revise any forward-looking statements.
This announcement is published in order to publicly announce specific facts stated above, and does not constitute a solicitation of investments or any similar act inside or outside of Japan, regarding the shares, bonds or other securities issued by us.