Japanese snacks group Morinaga & Co. and the country’s second-largest producer, Morinaga Milk Industry Co., have decided against integrating their businesses.
Reports last month in Japan said the two groups were weighing up moving their operations under a new holding company next year to boost their research and development, as well as help improve their sales overseas.
Go deeper with GlobalData
However, discussions have ended. In a joint statement, the companies said: Morinaga & Co. and Morinaga Milk Industry Co. have been considering a range of possibilities, not limited to a business merger; however, with regard to the option of a business merger, at present, consideration has ended with both companies concluding that it is in our best interests to devote ourselves to the pursuit of our respective business strategies and to place the utmost priority on enhancing our respective business foundations.”
The statement added: “Both companies will continue to consider opportunities for collaboration going forward.”
The two companies share origins, although, in 1949, the company’s dairy operations were spun off into Morinaga Milk Industry. Snack group Morinaga & Co. still owns a 10% stake in Morinaga Milk Industry, making it the dairy firm’s largest shareholder.
See Also:
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.
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
