May. 30. 2013
Marubeni Corporation (Marubeni) and Hong Kong Satellite TV International Media Group (HKSTV) have signed a letter of intent in agreement of forming a strategic partnership to create a joint enterprise on May 29, 2013. The parties’ objective is to increase export competitiveness of Japanese agricultural product, and to bring safe, secure and high quality food and agricultural products to Hong Kong, Macao, Taiwan and China’s Huanan region .
Marubeni and HKSTV will collaboratively utilize HKSTV’s TV, mobile phone, and Internet networks that cover the broad region of Hong Kong, Macao, Taiwan and China’s Huanan region, and Marubeni’s expertise in procurement of agricultural products in order to build a joint enterprise which enables the parties to supply safe, secure and high quality food and agricultural products to Hong Kong, Macao, Taiwan and China’s Huanan region.
Marubeni, through this strategic partnership, aims to build a new business in this area with a view to become the main channel of Japan’s high quality agricultural product export, and to contribute to the strengthening of Japanese agriculture’s global competitive power.
<Hong Kong Satellite TV International Media Group company profile>
|Capital fund||:||1 billion Hong Kong dollars (11.4 billion Japanese yen)|
|Main business||:||Global media conglomerate operating in satellite television broadcasting, Internet television broadcasting, cultural-related business, finance and securities business, and investment in television film.|