Making SHFF and LFF Subsidiaries and Creating Synergies in Singapore's Seafood Business

「The Company expects specific synergies, including increased sales of Group products using both companies' sales channels, lower procurement prices for the Group using both companies' suppliers, and increased sales by both companies using the Group's seafood procurement routes.」

「The company expects specific synergies, including increased sales of the group’s products through the target company’s distribution channels, lower procurement costs for the group through the target company’s suppliers, and increased sales by the target company through use of the group’s seafood procurement routes. In particular, it expects lower procurement costs through joint purchasing with JSTT SINGAPORE PTE. LTD., another group subsidiary located in Singapore, higher sales through cross-selling using both companies’ distribution channels, and lower indirect costs.」

「At its board meeting held on 6 September 2018, the Company resolved to acquire 70% of the issued shares of SIN HIN FROZEN FOOD PRIVATE LIMITED and LIVIO FROZEN FOOD PTE. LTD., which operate seafood wholesaling businesses in Singapore, and make them subsidiaries. The acquisition was completed on 26 September 2018. The Company expects specific synergies, including increased sales of Group products using the target companies' sales channels, lower procurement prices for the Group using the target companies' suppliers, and increased sales by the target companies using the Group's seafood procurement routes.」