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June 12,2024
Kyokuyo Co., Ltd. (Head Office: Minato-ku, Tokyo; President and CEO: Makoto Inoue) announced to take acquisition of a majority stake in N.S.F. Holding B.V.(NSF Holding, a holding company which owns Northseafood Holland B.V.(NS Holland),a Dutch seafood product processing and sales company), which will be a subsidiary of Kyokuyo Europe B.V.(KKE).
As Kyokuyo expands its overseas business, by establishing overseas production facilities based on its fundamental policy of "Producing overseas and consuming overseas". Kyokuyo will strengthen its food production and sales business in Europe through the recent consolidation of subsidiaries.
１．N.S.F. Holding B.V.
| (1)Name | N.S.F. Holding B.V. |
| (2)Address | Stortemelk 12-14 8321 EE Urk, The Netherlands |
| (3)Job title/name of representative | Pieter Tol |
| (4)Business Activities | Asset management |
| (5)Common stock | 40,608 ordinary shares with a nominal value of EUR 1.00 |
| (6)Date of Establishment | 31 May 1986 |
２．Synergy effect
The Netherlands is known as a major hub for seafood product processing and exports in Europe due to its flourishing fisheries industry and large number of processing companies. Since its founding in 1982, NS Holland has been engaged in the purchasing, processing, and sales of white fish and other seafood products that are harvested near the Netherlands. Frozen foods, including processed fishery products and fried foods produced at the company's plant in Urk, are sold not only in the Netherlands but also other locations throughout Europe and have a extensive of sales channels.
Through this consolidation, Kyokuyo will expand its European food production bases and pursue economies of scale by expanding the handling of marine raw materials by processing the raw materials we procure from around the world at NS Holland. In addition, synergies in sales capabilities are expected from the reciprocal use of the sales networks of the Company and KOCAMAN in Turkey. In order to maximize these synergies and optimize the European business as a whole, Kyokuyo has decided to re-organize KKE as a holding company and establish NSH Co., Ltd., KOCAMAN Co., Ltd. and Kyokuyo Europe Trading B.V.(KET Co., Ltd., which spun off the former frozen food purchasing and sales functions of KKE Co., Ltd.) under the umbrella.
３．Northseafood Holland B.V.
| (1)Name | Northseafood Holland B.V. |
| (2)Address | Stortemelk 12-14 8321 EE Urk, The Netherlands |
| (3)Job title/name of representative | Pieter Tol |
| (4)Business Activities | Purchasing, processing, manufacturing, and sales of marine products |
| (5)Common stock | 324,452 ordinary shares with a nominal value of EUR 1.00 |
| (6)Date of Establishment | 25 March 1982 |
