Marubeni, a major trading company, announced that it will sell all its shares to a Dutch company, saying that the profits of a major American grain company acquired nine years ago are sluggish.
It is expected to recover up to 400 billion yen by selling it.
According to the announcement, Marubeni will transfer some of its businesses, such as Gavilon, a major American grain company under its umbrella, to a subsidiary, and then sell all of its shares held during the next fiscal year to a Dutch company.
Gavilon is engaged in the business of collecting a large amount of grains such as soybeans mainly in the United States and selling it to countries around the world such as China. I bought it in yen.
However, due to changes in the business environment, profits were sluggish, and the company decided to sell its shares because it had posted a loss of 120 billion yen so far.
Although the sale amount is not disclosed, it is expected to recover up to about 400 billion yen including the repayment of the loan, and it is expected that a part of it will be recorded as a gain on the transfer in the future.
Akira Terakawa, CEO of the Food, Agri and Chemicals Group, said at a press conference online, "At the time of the acquisition, we were thinking of increasing the volume of handling of the grain business, but such a strategy entails great risks. We will focus on high-value-added grains such as organically grown grains. "