TOKYO, Sept 18, 2015 - (ACN Newswire) - Mitsubishi Corporation has decided to underwrite a scheduled capital increase by Brazilian agrochemical vendor Iharabras S.A. Industrias Quimicas (head office: Sao Paulo (State), Brazil).
Originally founded as a Brazil sales office for a Japanese agrochemical manufacturer in 1965, Iharabras has in recent years boosted its sales revenues by establishing its own sales channels and expanding sales to produce having large markets (soybeans, corn, etc.). With its major Japanese shareholders underwriting a capital increase, Iharabras will see its financial base substantially enhanced, which should enable it to expand agrochemical sales for produce with large markets, upgrade its product portfolio, and develop/introduce new high-value-added agrochemicals to become an even greater presence in the Brazilian market.
Brazil's agrochemical market topped US$11.9 billion in 2014, accounting for more than 21% of the world's agrochemical market. The country is expected to see strong long-term growth due to its extensive farmland, plentiful water resources, and stable climate, and is an attractive market for Japanese agrochemical manufacturers offering numerous products that have proven highly effective for a variety of produce.
Mitsubishi Corporation will take advantage of Iharabras' presence and experience as a sales company for Japanese agrochemical manufacturers in Brazil to reinforce and expand the company's business base in Brazil, the world's largest agrichemical market, in line with our business strategy.
Company Profile: Iharabras
President: Mr.Julio Borges Garcia Established: 18th March 1965 No. of employees: 640 (March 31 2015) Capital of after capital Increase: BRL 623million
About Mitsubishi Corporation
Mitsubishi Corporation (MC; TSE: 8058) is a global integrated business enterprise that develops and operates businesses across virtually every industry including industrial finance, energy, metals, machinery, chemicals, foods, and environmental business. MC's current activities are expanding far beyond its traditional trading operations as its diverse business ranges from natural resources development to investment in retail business, infrastructure, financial products and manufacturing of industrial goods. With over 200 bases of operations in approximately 80 countries worldwide and a network of over 500 group companies, MC employs a multinational workforce of nearly 60,000 people. For more information, please visit www.mitsubishicorp.com.
Source: Mitsubishi Corporation
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Mitsubishi Corporation Telephone: +81 3 3210 2171 Facsimile: +81 3 5252 7705
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