Following the initial announcement on 28 November 2024, Thai Wah Public Company Limited (TWPC), a leading agri-food business in Southeast Asia, and Fuji Nihon Corporation (FNC), a Tokyo Stock Exchange-listed food ingredients company, have completed the formation of their strategic joint venture, Thai Wah Fuji Nihon Company Limited.
Under the final shareholding structure, TWPC holds a 51% stake while Fuji Nihon Thailand Company Limited holds 49%. This collaboration marks a significant milestone for both parties as they enhance their capabilities to expand globally and innovate within the cassava starch ingredients sector.
The alliance reflects a shared vision to drive growth, value creation, and innovation in the agri-food industry. By combining advanced R&D expertise, the partnership aims to develop high-quality tapioca starch products with novel functionalities and applications. It also reinforces the global supply chain’s resilience and responsiveness to diverse customer needs.
Ho Ren Hua, Chief Executive Officer of Thai Wah Public Company Limited, commented, “We are excited to embark on this strategic partnership with Fuji Nihon Corporation. This represents a significant step forward in our shared vision of innovation and excellence. Together, we will leverage our combined strengths in Japan and Southeast Asia to create exceptional value for our customers and drive sustainable growth across the APAC region with a range of differentiated B2B products and platforms. In today’s global environment, the need for strong regional partnerships to support food security and sustainable supply chains is more important than ever.”
Hidetoshi Soga, Chief Executive Officer of Fuji Nihon Corporation, added, “This partnership is a testament to our commitment to food ingredient innovation and operational excellence. Today, we combine our expertise and resources to achieve remarkable milestones in the future, creating lasting new value for our stakeholders and global customers.”
This transaction aligns with TWPC’s long-term strategic ambition to strengthen its position as a leading agri-food company in the Asia-Pacific region. With an expanded footprint in the food ingredients segment, TWPC is set to diversify its product portfolio, extend market reach, and deliver sustainable growth, while enhancing shareholder value through innovation and excellence.
