Nichirei Stockholders General Meeting: Nichirei Fresh to Establish Joint Venture in China
June 26, 2008
The Nichirei stockholders general meeting of the 90th term was held at the
Palace Hotel in Tokyo on June 23, 2008, with 900 stockholders in attendance.
Business performance from the previous term was reported. Mitsuhito Urano, as
a chairperson, explained necessary measures for the recovery of the frozen food
business as well as the future course of the cold distribution business; these
areas were the main focus of the meeting.
“We are determined to reestablish frozen food market which has been
facing a slump caused by the Chinese Tenyo scandal and improve the value of
frozen food as ‘Super Food’ by patiently explaining our thorough quality
management system of products made in China,” stressed by Urano.
Stockholders applauded this strong statement.
Development of overseas business was explained by President Toshiaki
Murai, Nichirei Foods President Yoshihiko Souma, and Nichirei Fresh President
Souma stated that in addition to building stronger business foundations in
China and Australia, they had been conducting market research in Europe, the
United States, and Asia for business advancement. A plan for Nichirei Foods to
proceed with the establishment of a joint venture in China in the near future was
delivered by Hasegawa. This new venture will be created in Rizhao City,
Shandong Province in China for distribution of seafood merchandise to mainly
Hong Kong and Southern China.
There was a statement that highly praised frozen food and health
conscious products by the company. Some stockholders expressed appreciation
of the company’s future business advancement plans.
The meeting ended in two hours after verifying all the subjects submitted,
including appointing 10 directors.
Translated by Kiyo Haysaka on June 25, 2008
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