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3 Japanese Firms to Begin Joint Farming Business in China

Posted on: Monday, 27 February 2006, 12:00 CST

By Kyodo News International, Tokyo

Feb. 27--TOKYO -- Asahi Breweries Ltd., Sumitomo Chemical Co. and Itochu Corp. said Monday they will engage in joint agricultural operations in China, starting in April. The three Japanese companies will put up a total of 1.5 billion yen to establish a joint company in Shandong Province and raise milk cows as well as up-market vegetables and fruits, such as lettuces and strawberries, on 100 hectares of farmland there, they said.

Asahi, which has a brewery in Shandong, will start farming operations at the provincial government's request. Trading house Itochu will be in charge of distribution and sales, while Sumitomo Chemical will provide agricultural materials and fertilizers.

Demand for up-market farm products is growing in China.

The companies hope to contribute to the development of agriculture in China by training agricultural engineers and providing a business model.

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Copyright (c) 2006, Kyodo News International, Tokyo

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Source: Kyodo News International, Tokyo

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