JAPAN: Itochu agrees to invest up to ¥3bn in new Snow Brand shares
Trading house Itochu Corp has agreed to buy up to ¥2bn (US$15m) worth of new shares in beleaguered dairy product maker Snow Brand Milk Products. It has not yet been decided at what price Itochu will buy the shares. The move is part of Snow Brand's turnaround plan, which includes borrowing ¥50bn from creditor banks and huge redundancies.
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