AAK has established a partnership with Miyoshi Oils & Fats Co. by forming a new company together for the Japanese market, AAK Miyoshi JP. This partnership will considerably extend the prerequisites for AAK's business in the local market.

This market is particularly important for the Chocolate & Confectionery Fats and Bakery segments. AAK will own 70% of the company and the remaining 30% will be owned by Miyoshi Oils & Fats Co. AAK Miyoshi JP, that will be based in Tokyo, will have both sales and customer innovation resources and will focus on products for the chocolate and confectionery, bakery, dairy and infant nutrition markets.

The new company has entered a toll manufacturing agreement with Miyoshi Oils & Fats Co. who will manufacture the products locally. Through this partnership, AAK will further strengthen its presence in the strategically important Asian market.

As communicated earlier, AAK is currently constructing a specialty and semi-specialty edible oils factory in Zhangjiagang, China, which will be operational during the end of the second quarter of 2016. In addition, AAK has recently acquired 51% of a leading Indian oils and fats company, creating AAK Kamani, based in Mumbai. The AAK Miyoshi JP partnership will be operational from January, 2016.