ITOCHU Corporation (IOC.F,8001.T), a Japanese general trading company, said on Tuesday that it has acquired 20% shares of NISSEI Corporation, a maker of soft serve ice cream ingredients, production equipment, and containers.
"In this alliance, the two companies will combine NISSEI's product development capabilities, thorough quality control, and advanced manufacturing technologies with ITOCHU's global raw material procurement capabilities and overseas sales network to provide optimal solutions in each market," the company said.
ITOCHU is also engaged in the food sector with the procurement of raw materials, logistics services, and supporting the development of products.
NISSEI started selling soft serve ice cream in 1951 and now holds around 60% of the Japanese soft serve market. The company also operates in China and Vietnam.
The Japanese commercial soft serve ice cream market is estimated to be around 150 billion yen. The Asian soft serve ice cream market is also projected to grow with a steady trend.
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