The company aims to expand the market share in Singapore first.
Japanese food company Toho has bought two Southeast Asian firms, one in Singapore and the other in Malaysia, to expand its business overseas in pursuit of medium- to long-term growth.
The food product wholesaler and retailer company has acquired Shimaya Trading Pte. in Singapore and Shimaya Trading Sdn Bhd in Malaysia, but the transaction value was not disclosed.
The company aims to expand the market share in Singapore first. The company will examine more potential merger and acquisition cases individually.
On the back of the growing popularity of Japanese cuisine in Southeast Asia, the company has previously taken over two other Singapore firms — Marukawa Trading (S) Pte. in December 2015 and Tomo-Ya Japanese Food Trading Pte.
The four Southeast Asian firms handle products such as seasonings, chilled and frozen meat, fish and vegetables.
The combined sales of the four Southeast Asian firms totaled roughly ¥2.4 billion.
