Message from the President
Kanematsu to Jointly Establish Wholesaler of Raw Ingredients for Confectionary and Bakery in Shanghai, Responding to Western Confectionery Boom
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December 6, 2013
Kanematsu Corporation (Minato-ku, Tokyo, President: Masayuki Shimojima, "Kanematsu") will jointly establish with Iwase・Esta Corporation (Naniwa-ku, Osaka, President: Keiichiro Fujisaki, “Iwase・Esta”) a wholesaler of raw ingredients for confectionery and bakery in Shanghai, China for the Western confectionery market.
Iwase・Esta Corporation and Kanematsu (China) Co., Ltd. will invest in the new joint venture, Iwase-Esta Kanematsu Co., Ltd., which will be established in January 2014.
Iwase・Esta Corporation is Japan’s largest wholesaler specializing in food raw materials. The company has more than 4,000 customers in Japan in the wholesale of raw ingredients for confectionery and bakery and aims to contribute to the development of the food industry by developing a variety of products and efficient distribution systems to respond to every need in the industry.
As a trading company, Kanematsu Corporation uses its global network to help companies enter Asian markets, especially China, Indonesia, and Vietnam, by conducting overseas market research, matching its customers with local partners, working out business schemes, establishing joint ventures, building factories, developing logistics, and securing sources of raw materials.
The confectionery and bakery industry is growing rapidly in China. The average annual growth rate for 2010 through 2013 exceeded 13%. As Japanese manufacturers of Western confectionery have been entering the Chinese market, there are signs that Japanese-brand Western confectionery is rising rapidly in popularity.
The new joint venture aims to support Japanese confectionery and bakery companies that are planning to enter the Chinese market, making the most of Iwase・Esta’s expertise in the supply of raw ingredients for confectionery and bakery, which it has developed in Japan, and Kanematsu’s business experience in China. The venture will support customers’ operations in China by providing expertise in the sourcing, supply, and distribution of raw materials. It will also help customers acquire licenses to establish companies.
Iwase・Esta and Kanematsu will demonstrate their strengths and their strong partnership to help customers develop business in China and to help Japanese brands succeed in the confectionery and bakery market in China.
Public Relations Department, Kanematsu Corporation