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01475 NISSIN FOODS
RTNominal up5.020 +0.040 (+0.803%)
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23/01/2020 17:40

Nissin Foods (01475) to form JV for Japanese food business

[ET Net News Agency, 23 January 2020] Nissin Foods Company Limited (01475) said the
company and Liu Feng have entered into an agreement to form a joint venture company (JV
company), which in turn will establish a wholly foreign-owned enterprise in Shanghai (the
PRC WFOE).
The JV company and the PRC WFOE will engage in import and sale of Japanese brand food
and beverage products in the PRC, and target to commence the business in Shanghai by
second quarter of 2020.
The JV company will be owned as to 81% by the company and 19% by Liu Feng. The company
will contribute approximately HKD18.6 million in cash to the share capital of the JV
company. (RC)

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