Kikkoman Corp. and the Kibun Foods Inc. group said Thursday they will conclude a capital tieup to establish a strategic partnership in the fields of chilled foods, beverages, overseas sales and product distribution.
Under the agreement, Kibun Foods will allocate 1 million new preferred shares, with voting rights, to Kikkoman at an issue price of 1,000 yen per share in July, giving the leading soy-sauce producer some 5 percent of all voting rights offered by the firm.
Kikkoman will also purchase about 4.35 million outstanding shares in Kibun Food Chemifa Co. for about 6 billion yen in March to acquire an equity stake of around 15.4 percent in the food processor, which is currently owned 34.9 percent by Kibun Foods.