Yamazaki Baking will acquire a 35% stake in struggling confectioner Fujiya through a third-party allotment of new shares by Fujiya, the two companies said today (26 March).
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Fujiya has struggled to win back consumer confidence after revelations this year that it used out of date ingredients in the production of various products. Over the past few months, it has deepened ties with Yamazaki Baking, receiving technological assistance from to improve its hygiene practices.
Yamazaki will also send six executives to business partner Fujiya, the companies revealed.
