Scandal-tainted Japanese confectionery company Fujiya has revealed that its cross-shareholding relationship with Morinaga & Co has been terminated.

In 2005 the two confectioners entered into a tie-up agreement that saw each hold 5m shares in the other. Fujiya and Morinaga also shared joint distribution channels. The companies reached an agreement to end this relationship today (14 March).

Following a scandal concerning Fujiya’s use of out-of-date ingredients in the production of candy and cream cakes, the group has launched a business rehabilitation programme with quality control support from cake and bread manufacturer Yamazaki Baking.

Morinaga and Fujiya said that they will maintain normal business relations.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.