OSAKA -- Fuji Oil Holdings will invest 5 billion yen ($43.6 million) to build a new factory for pastry filling in China's Guangdong Province, keeping up with the country's increasing appetite for sweet snack food.
Fuji Oil (Shanghai) Management, a wholly owned unit that oversees Chinese operations, will establish a new subsidiary in the city of Zhaoqing that will run the factory. The unit will provide 98% of some 3.4 billion yen in capital. Sales are targeted at 8 billion yen in 2020.
