News Releases

November 6, 2019

Farmind has signed MoU on the acquisition of stakes of JWM Asia Japan
~Expand product lineup of imported fruit and vegetables~

Farmind Corporation (Head Office: Chiyoda-ku, Tokyo; President and CEO: Tatsuo Horiuchi; hereinafter "Farmind"), a comprehensive fruit and vegetables marketer with a nationwide cold chain, concluded Memorandum of Understanding on October 29, 2019, with JWM Asia Holdings Limited. (Head Office: Wanchai, Hong Kong; President and CEO: Noel Shield) to integrate the operations of JWM Asia Japan Co., Ltd. (Head Office: Shinjuku-ku, Tokyo, President and CEO: Antony Greenstein, hereinafter "JWM Asia Japan"), a company that imports and sells fruits and vegetables, by acquiring 100% of its shares.

JWM Asia Japan formerly known as Cape Span Japan Co., Ltd. which was founded in 1964 with the origins of Holden Shoji Co., Ltd., has a strong presence in the Japanese market for 55 years. Outspan, one of its sales brands, has been widely known since it was introduced in the Japanese market by Holden Shoji Co., Ltd., and has been highly evaluated for its high-quality products. The Company has strong connections with producers in South Africa, North America, Latin America, and Oceania. Through in-store promotions, over-the-counter sales, and strategic alliances, the company delivers a wide range of products and services, from its main products such as grapefruit to value-added products (pre-packs), to wholesalers, retailers, and others around the country. Annual sales totaled approximately ¥6.0 billion (2018 results).

Farmind has a cold chain covering the whole of Japan with 14 centers dedicated to handling fresh produce nationwide, IT systems developed exclusively for fresh produce, and a wide range of specialized functions covering all areas of fruit and vegetables distribution, including procurement, manufacturing and processing, marketing, logistics and sales. Farmind also offers a wide variety of products, ranging from imported fruit and vegetables, including bananas, avocados, and pineapples, to a large number of domestically produced fruit and vegetables.

Farmind Group will achieve an expansion of product lineup of imported fruit and vegetables products by adding JWM Asia Japan’s Citrus and other products to the Group's products. We will strengthen our stable supply bases by diversifying the import sourcing in preparation for the recent frequent weather changes.

In addition, by mutually complementing our customer bases in Japanese markets, we will further expand our two businesses. At the same time, we will integrate JWM Asia Japan's distribution center into Farmind's cold-chain network to optimize logistics, aiming to realize more efficient business operations by integrating various functions.

<Aim of business integration>
  • To expand product lineup of imported fruit and vegetables
  • To strengthen our stable supply bases for imported fruit and vegetables by integration and diversification of sourcing
  • To improve operating efficiency and expand business by complementing customer bases
  • To improve operating efficiency by integrating distribution centers, logistics, etc.

Based on our corporate philosophy of "Bringing producers and consumers together," we will continue to contribute to the development of domestic and overseas fruit and vegetables distribution from a variety of perspectives. We will continue to strengthen our supply system for fruit and vegetables both in Japan and overseas and improve quality through our cold chain network, and deliver fresh and delicious fruit and vegetables from producers to consumers.

■ Profile of JWM Asia Japan
Name: JWM Asia Japan
Representative: Antony Greenstein
Established: March 2017
Location: Shinjuku-ku, Tokyo
Business: Import and sale of fruit and vegetables
[products]: Citrus, Avocado, Grapes, Mango, Berries
[Major Trade Countries]: Republic of South Africa/United States/Mexico/Chile/New Zealand/Australia/Peru/Brazil/Israel/Turkey
[Business partners] Retailers, Wholesalers, Food services, etc.