Japan's big farm lender taps FamilyMart to boost produce sales

Date: 2020.08.17

Japan's Norinchukin Bank and the National Federation of Agricultural Cooperative Associations, or Zen-Noh, will jointly invest 57 billion yen ($545 million) in the FamilyMart convenience store chain to sell farm products through the store's nationwide network.

The investment by two core members of JA Group, an agricultural collective, is aimed at bolstering distribution of domestic farm output. Until now, the bank has done this mainly via direct loans to farmers.

Norinchukin and Zen-Noh will buy a 4.9% stake in FamilyMart after trading house Itochu completes its takeover of the chain.

Zen-Noh's products will replace imported ingredients in FamilyMart's carryout foods with its own homegrown ones. The two will also attempt to develop products for FamilyMart's private brands.

Read more here.

Comment

You may also like

2013.10.08
6,555
Dr. Jeongbin Im Professor Department of Agricultural Economics and Rural Development College of Agricultural and Life Science Seoul National University Seoul, Korea E-mail: jeongbin@snu.ac.kr   The Ministry of Agriculture, Food, and Rural Affairs (MAFRA) announced the...
2014.12.27
4,290
Kunio Nishikawa College of Agriculture, Ibaraki University, Japan   INTRODUCTION Japanese food self-sufficiency ratio on a calorie basis is 39% in FY2012. This value is one of the lowest figures recorded for developed countries. This situation is caused from the increase in import...
2019.05.23
816
INTRODUCTION   The development of agriculture, farmers and rural areas is a major policy of the Communist party and State of Vietnam to implement the country's socio-economic development and contribute to implementing effectively the UN Millennium Development Goals. It has been more than...