Press Release

    Mitsubishi Corporation and Olam form New Joint Venture to Supply Sustainable Agricultural and Food Products to Japan

    Press release

    Mitsubishi Corporation (MC) and Olam International Limited (Olam) today announced the formation of a joint venture, MC Agri Alliance Ltd (MCAA), in Japan. The new joint venture will import and distribute coffee, cocoa, sesame, edible nuts, spices, vegetable ingredients and tomato products in the Japanese market. MC will hold 70.0% of the joint venture and Olam 30.0%.

    The joint venture will draw on the combined strengths of both companies: Olam, for its global supply chain networks (agricultural production, origination, processing and trading) for sustainable agricultural products and food ingredients, and MC, for its extensive distribution and sales network in Japan.

    Consumers around the world are increasingly placing a premium on sustainable food products, particularly confectioneries and beverages. The establishment of MCAA enables MC and Olam to expand their network for responsibly sourced raw materials and improves their system of distributing agricultural and food products in Japan and around the world. Through Olam’s sustainable global supply chains, MCAA can offer a range of innovative and high quality food products that will appeal to today’s Japanese consumers.

    Both joint venture partners will continue to focus on ensuring that existing customers remain their priority as the new joint venture works to broaden and deepen customer relationships in Japan. MCAA is targeting to commence operations by October 1, 2016.

    Olam is one of the leading players in the global market for coffee, cocoa, edible nuts and other agricultural and food raw materials, with a network of more than 4 million farmers, most of whom are smallholders. Its origination of sustainable and traceable products is underwritten by ongoing support to these farmers and certification for the products it delivers to the market.

    MC Living Essentials Group has developed a strong vertically integrated business model in Japan that engages in segments of the food business ranging from raw materials procurement to distribution and retail. Adding Olam’s wide ranging product portfolio and its sustainability and traceability track record to that platform creates a formidable partnership for procurement and delivery of food products and ingredients to consumers in Japan.

    1. Sustainable food products and ingredients are agricultural products that are produced with due consideration for society and the environment; particularly those produced in a way that helps to improve the livelihoods of small farmers and their surrounding communities, improve sanitation and overall working environments, eradicate child labor, and makes appropriate use of water and other natural resources.

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    About Olam International Limited

    Olam International is a leading agri-business operating across the value chain in 70 countries, supplying various products across 16 platforms to over 16,200 customers worldwide. From a direct sourcing and processing presence in most major producing countries, Olam has built a global leadership position in many of its businesses. Headquartered in Singapore and listed on the SGX-ST on February 11, 2005, Olam currently ranks among the top 50 largest listed companies in Singapore in terms of market capitalisation and is a component stock in the S&P Agribusiness Index and the DAXglobal Agribusiness Index. Olam is the only Singapore firm to be named in the 2009, 2010 and 2012 Forbes Asia Fabulous 50, an annual list of 50 big-cap and most profitable firms in the region. It is also the first and only Singapore company to be named in the 2009 lists for the Global Top Companies for Leaders and the Top Companies for Leaders in the Asia Pacific region by Hewitt Associates, the RBL Group and Fortune.

    More information on Olam can be found at www.olamgroup.com.

    Olam is located at 9 Temasek Boulevard #11-02 Suntec Tower Two Singapore 038989,
    Telephone: +65 63394100, Facsimile: +65 63399755.

    About Mitsubishi Corporation:

    Mitsubishi Corporation (MC) is a global integrated business enterprise that develops and operates businesses across virtually every industry including industrial finance, energy, metals, machinery, chemicals, living essentials, and environmental business. MC’s current activities are expanding far beyond its traditional trading operations as its diverse business ranges from natural resources development to investment in retail business, infrastructure, financial products and manufacturing of industrial goods. With over 200 offices and subsidiaries in approximately 90 countries worldwide and a network of over 600 group companies, MC employs a multinational workforce of approximately 70,000 people.

    Issued on behalf of Olam International Limited by:

    WATATAWA Consulting, 28 Maxwell Road #03-03 Red Dot Traffic Building Singapore 069120

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