The National Federation of Agricultural Cooperative Associations, the umbrella organisation for food co-operatives in Japan, will take a 90% stake in the British food wholesaler SFG Holdings in a deal estimated to be worth ¥1bn, the Nikkei Asian Review reported on 7 November. Norinchukin Bank will acquire the remaining 10%.
The federation, also known as Zen-Noh, is responsible for about half of Japan’s rice exports to the UK, and it is looking to double overall exports to the country over the next three to five years.