Mitsui & Co., Ltd. to Participate in FKS Food & Agri
Japan’s Mitsui & Co., Ltd. (“Mitsui”) and the Development Bank of Japan (“DBJ”), through a special purpose company, MDF Co., Ltd., have jointly acquired shares in FKS Food & Agri Pte. Ltd. (“FKSFA”) with a total investment of approximately USD 100 million (equity stake of 8.5%) in July 2018.
Mitsui, a global reputable general trading company, under its Medium-term Management Plan has identified “Food and Agricultures” as the new growth area with South East Asian as one of the most important market due to its large population and high reliance on imported food. Through a strategic partnership with FKSFA who has strong and solid establishment throughout South East Asia, in particular Indonesia, that is believed to be one of the most potential markets in its economical growth and middle-class population expansion, it is hoped that the acquisition will help to grow the food business expansion.