Ajinomoto Completes Sale of French Sweeteners Division to HYET
16 Oct 2015 --- Ajinomoto Co has announced the completion of the procedures for the transfer of all issued and outstanding shares of Ajinomoto Sweeteners Europe S.A.S of France, a wholly owned subsidiary of Ajinomoto Co., to HYET Holding B.V of the Netherlands in accordance with the details of the share sale announcement in August.
In addition to concentrating its production bases for aspartame, Ajinomoto Co. will further reinforce the structure of its sweeteners business through cost reductions and other measures. At the same time, Ajinomoto Co. is further promoting specialty by expanding its product domains for Japanese and overseas consumers with the aim of providing products that are both delicious and low in calories.
At a transfer price of EUR 1 (approximately JPY 135), Ajinomoto Co. expects to record an extraordinary loss from this sale of around JPY 7.0 billion, which has been incorporated in its most recent consolidated performance forecast for the fiscal year ending March 31, 2016, announced in its Revision to Consolidated Performance Forecast for the Fiscal Year Ending March 31, 2016, dated August 27, 2015.
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