Mitsubishi Corporation has announced that it has completed the acquisitions of majority stakes in Nihon Shokuhin Kako Co., Nitto Fuji Milling Co., and Nosan Corporation.
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The group announced in May that it would invest JPY19.7bn (US$162m) in Nosan, JPY5.2bn in Nitto and JPY2.3bn in Nihon, but all three would remain listed as separate companies.
Mitsubishi has acquired 4,913,000 shares in processed foods producer Nihon Shokuhin Kako for JPY1.769bn, giving it a 59.92% stake.
Meanwhile, the group has bought 13,238,000 shares in the flour miller and restaurant operator Nitto Fuji Milling Co. for JPY 5.163bn, representing a 65.05% participation.
It has also acquired a 56.24% stake in the livestock feed group Nosan Corporation for JPY 15.697bn, or JPY380 per share.
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By GlobalDataThe group further announced that as a result of these deals, the three companies would become consolidated subsidiaries of Mitsubishi, with effect from 22 June.
