November 20, 2008 / 4:51 AM / in 9 years

Japan's Itochu to invest $710 mln in China's Ting Hsin

TOKYO, Nov 20 (Reuters) - Japanese trading house Itochu Corp (8001.T) said on Thursday that it would buy a 20 percent stake in Chinese food processing company Ting Hsin for $710 million to take further advantage of fast-growing demand.

    Japan’s big trading houses, which have enjoyed bumper years from betting on iron ore and metals, are getting into the food market, aiming to tap voracious demand in China and other emerging markets.

    Ting Hsin Holding Corp, with which Itochu will expand its alliance through the investment, is one of China’s largest food companies and owns Tingyi Holding Corp (0322.HK), Itochu said.

    Reporting by Yumiko Nishitani

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