Japanese media reported that on October 6, Japan's KUMIAI Chemical Industry and Mitsui Chemicals Pesticides announced that they have staked in Brazil's pesticide company Iharabras and will strengthen their business in Brazil, where the pesticide market is expected to expand.
KUMIAI Chemical Industry has acquired 3.15% of the issued shares of Iharabras, plus the previous shares, the shareholding ratio has risen to 22%, and it plans to include the company in the affiliates accounted for under the equity method.
In addition, Mitsui Chemicals' pesticide company, which is part of the Mitsui Chemicals Group, has a 11.89% stake in Iharabras. Nissan Chemical Industry also received a 3% stake. The purchase amount has not been announced.
Iharabras’ sales revenue in 2010 was about 500 million reais.
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