Japanese seasoning maker Ajinomoto is to acquire Shimizu Pharmaceutical, an unlisted drugmaker based in Shizuoka Prefecture, central Japan, to boost its pharmaceutical operations, according to a Dow Jones report on Monday.
The report states that Ajinomoto intends to buy all shares in Shimizu Pharmaceutical and its unit Shimizu Medical from Suzuyo & Co. group companies.
Japanese giant Takeda Chemical Industries is apparently set to sell its 32.5 per cent stake in Shimizu Pharmaceutical to Suzuyo prior to Ajinomoto's acquisition, and terminate its sales tie-up with the company.
The report continues that Ajinomoto has lifted its business targets for the pharmaceutical division and is aiming for an operating profit of Y15 billion (€0.12bn) in fiscal 2005 on sales of Y103 billion.