Japan’s Calbee has teamed up with Philippines food group Universal Robina Corp. to form a local snacks venture.

The venture opens another market for Japanese group Calbee. Outside Japan, Calbee’s brands are sold in Thailand, Singapore, China, Taiwan, Hong Kong and Korea. They include Jagabee Potato Sticks and Calbee Potato Chips.

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The company called the Philippines “one of the promising snack markets”.

Calbee-URC Inc will be established with US$13m of capital and start operations by April.

Calbee forecast the venture would achieve JPY4bn (US$39.5m) of annual net sales within six years.

URC also has a strong international presence with manufacturing facilities in China, Thailand, Malaysia, Vietnam and Indonesia.

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