Agricultural Cooperative ZEN-NOH and Mitsubishi Corporation to Establish Agrochemical Joint Venture
2017年9月15日 - 12:25PM
JCN Newswire (英)
The National Federation of Agricultural Cooperative Associations
("ZEN-NOH") and Mitsubishi Corporation (MC) are pleased to announce
the establishment of a new joint venture for the registration,
manufacturing, and distribution of agrochemicals. The new company,
"Z-MC Crop Protection Corporation" (tentative name) will be
established in October of this year with ZEN-NOH and MC each
holding a 50% share, and will begin operations in the 2018 fiscal
year.
ZEN-NOH recognizes that lowering agrochemical costs requires
seeking out demand and expanding its sales of agrochemical active
ingredients(1) in domestic non-crop markets(2) as well as overseas,
and accelerating the addition of generic (non-patent) agrochemicals
to its range of product offerings. To this end, ZEN-NOH has been
working to revamp its structure and corporate profile to better
serve its agrochemical manufacturing, trading, and registration(3)
operations.
For its part, as it seeks to expand its own business domains, MC
has been taking steps to help meet the growing demand for food and
agricultural inputs spurred by global population growth through its
agrochemical contract manufacturing operations in India and China
as well as through its domestic and international distribution
businesses.
This joint venture is particularly unique as it combines the
R&D and registration expertise of ZEN-NOH with MC's
manufacturing experience and global network, and builds a platform
on which both companies can maximize their synergies.
The new company will facilitate the registration and manufacturing
of ZEN-NOH's active ingredients and other agrochemicals, expand
sales of active ingredients and formulations abroad and in non-crop
markets in Japan, and source generic agrochemicals that can
contribute to better price competitiveness. The company is aiming
to expand sales to 10 billion yen by 2021.
By achieving economy of scale through the operations of the new
company, ZEN-NOH and MC will jointly contribute to enhancing the
competitiveness of Japanese agriculture.
(1) Active Ingredient: The core component of an agrochemical that
allows it to perform pest-controlling functions. This component is
combined with other inert ingredients to create the agrochemical
formulation used in the market.
(2) Non-crop market: Usages not related to crop production, such as
ornamentals, turf, and roadside weed control.
(3) Registration: Authorization necessary for the production,
sales, and usage of agrochemicals, requiring high expertise in
obtaining various data demonstrating the safety and effectivity of
the product.
About Mitsubishi Corporation
Mitsubishi Corporation (MC; TSE:8058) is a global integrated
business enterprise that develops and operates businesses across
virtually every industry including industrial finance, energy,
metals, machinery, chemicals, foods, 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 bases of operations in approximately 80
countries worldwide and a network of over 500 group companies, MC
employs a multinational workforce of nearly 60,000 people. For more
information, please visit www.mitsubishicorp.com.
Source: Mitsubishi Corporation
Contact:
Mitsubishi Corporation
Telephone: +81 3 3210 2171
Facsimile: +81 3 5252 7705
Copyright 2017 JCN Newswire . All rights reserved.