Scandal-hit confectionery maker Fujiya has said that it is considering a move that would see Yamazaki Baking acquire more than one-third of its outstanding shares to aid its recovery.
Go deeper with GlobalData
Fujiya has struggled to win back consumer confidence after revelations this year that it used out of date ingredients in the production of various products. It has accepted technological assistance from Yamazaki Baking to improve its hygiene practices.
“The company is receiving support from the cooperation of Yamazaki Baking Co, Ltd, which introduced the AIB food safety control system,” the company said in a statement. The offer from Yamazaki is being evaluated and may be accepted if it were to help strengthen Fujiya’s brand power.
