Itochu invests in Chinese coffee company Shanghai Weiming

Economy

General trading house Itochu Corp. has formed a capital partnership with Chinese coffee product maker Shanghai Weiming Food Co. to cater to the country's fast-growing coffee market. Relevant procedures on the deal have been completed, an Itochu spokesman said without giving details, only revealing that it is investing hundreds of millions of yen and that the amount makes it the second-largest shareholder of the Shanghai-based company. The capital alliance, Itochu's first with a Chinese coffee company, scaled up the previous business tie-up deal under which the Japanese trader supplied coffer b...

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