global expansion will translate into malaysia expansion.
malaysia division will follow HQ objective and direction.

http://www.ajinomoto.com/en/ir/ir_library/g2006_01_12.html

Amoy acquisition

Ajinomoto Group to Acquire Windsor Quality Holdings, LP,
the No. 1 Manufacturer of Asian/Ethnic Frozen Foods in the U.S.,
for Approximately USD 800 Million
-Toward a JPY 100 Billion Business in North America-
Aiming to Be the Clear Number One Asian/Ethnic Frozen Food Manufacturer
TOKYO, September 10, 2014 - Ajinomoto North America, Inc. (AJINA), a consolidated subsidiary of Ajinomoto Co., Inc. ( "Ajinomoto Co." ) has entered into an agreement to acquire Windsor Quality Holdings, LP ( "Windsor" ), a private US company for approximately USD 800 million (approximately JPY 84 billion).

By combining Windsor' s marketing power, knowledge of U.S. consumers, distribution and sales capabilities and production footprints throughout the U.S. with AJINA' s strengths in healthy, high-quality and delicious frozen food products which are originating from Japan and supported by advanced technologies, Ajinomoto Co. will accelerate its growth to achieve its fiscal 2020 sales target of JPY 100 billion for its frozen food business in North America and secure its position as the clear No. 1 manufacturer in the Asian/Ethnic frozen food market.

With the aim of becoming a Genuine Global Specialty Company, Ajinomoto Co. is fostering global growth by being the No. 1 consumer food company in deliciousness, using its unique, advanced technologies to create food products that are adapted to the tastes of its customers in the various countries where its overseas consumer food business operate. In developing countries, Ajinomoto Co. promotes products based on umami, flavor, menu-specific and other seasonings that appeal to the local tastes in each country or region. In developed countries, such as the US and Europe, Ajinomoto Co. is specializing in more highly processed foods originating from Japan, with a lineup focused on Asian/Ethnic frozen and processed foods adapted to local customer tastes.

The frozen food market in North America is sizable valued at approximately USD 40 billion (approximately JPY 4 trillion) and growing steadily. Within this market, the growth of Asian/Ethnic and differentiated categories of healthy/high quality foods has been particularly robust in recent years. Ajinomoto Co. established a full-scale frozen food business in North America in 2000. That business has now grown to approximately USD130 million (approximately JPY 13.5 billion) in sales, mainly comprised of high-quality products such as Gyoza (pot stickers), noodles and rice adapted to the local customers.

Led by management skilled in the frozen food business, Windsor has developed a broad distribution network in the US, with about 80,000 stores selling its products, including major retailers. It also has a strong food service operation with approximately 120,000 restaurants purchasing its products. In addition, Windsor has seven production facilities throughout the U.S. and strong brands/positions in Asian, Mexican, Italian and appetizer segments, holding the top share for Asian products.

With this acquisition, Ajinomoto Co. aims to become the clear No. 1 manufacturer of Asian/Ethnic food products in the surging Asian category of the North American frozen food market. By using Windsor' s strong distribution network, Ajinomoto Co. plans to increase sales of Gyoza (pot stickers), noodle and rice products, that are specialties to the company, in US retail channels and to strengthen its sales platform in food service channels. In fiscal 2016, Ajinomoto Co. aims to achieve JPY190 billion in worldwide sales in the frozen food business, JPY 100 billion in Japan and JPY 90 billion overseas.

AJINA plans to acquire Windsor in early November 2014. The Ajinomoto Group will retain Windsor' s current management structure after the acquisition. The impact on business results for fiscal 2014 will be immaterial.

Overview of Windsor (Subject of Acquisition)
(1) Company name: Windsor Quality Holdings, LP
(2) President: Greg Geib
(3) Location: Houston, Texas, U.S.A.
(4) Established: 2004*1
(5) Net sales: Approx. USD 670 million (fiscal 2013)*2
(6) Number of employees: Approx. 1,700
(7) Business: Manufacture and sale of frozen food
(8) Website: http://www.windsorfoods.com/
*1 The year of execution of the limited partnership agreement.
*2 Total net sales of Windsor was Approx. USD 800 million. Its sausage business, which is out of the scope in this transaction, will be spun off before the acquisition by AJINA.


Reference: Windsor' s Core Brands

https://www.ajinomoto.com/en/presscenter/press/detail/g2014_09_10.html

yk tsong, good one.
looks like aji expansion into new bis related to those acquisition

Aji Go Go Goallllll

topglov and kossan eps nearly same. but kossan 6.30 topglov 5.05, where is the rational ?
top up today at 5.05

UMA ?!! Then fast Uma ...

short term target reached. but will move slightly higher.
medium term target 12.00
long term no target

2 digit share price

# this year dividend 0.30

this year eps should 0.30. but maybe got some surprise

Hi Henry,
i may have bias on AJI as i hold Aji.
i top up little unit each time as limited cash.
Current holding 13400 unit.
if still got available cash + price is right i top up again.
so, for aji case, for me, UP, i untung. Down, i buy again.
Win Win situation + sleep well :)

invest based on historical data, it is expensive.
if based on future prospect draft by aji CEO, 2.00 EPS by 2020, it is dirt cheap now.
if eps only reach 1.00, at current price, still cheap. time will tell.

9.50 not fair value but under value

top up 9.50

after CEO bold statement, no more below 10 soon

no more single digit price after break 10. high got higher

market will revalue Aji soon on growth counter valuation.

haha

top up 8.80 100 unit, 8.99 2300 unit

tomolo this counter buy sell queue very interesting liao

based on Boss comment, this year eps at least 0.36 ^-^

top up again 28.54

started to reflect its value ... show begins ...

top up 28.30

Harta moved up today at dying period.
Kossan follow some.
Give an eye on glove counter especially topglov if buying interest come back.
Forex gain is jyst a bonus to export counter.

Lucky top up at 26.90 yesterday. Queue 26.5 not match

After somedays, linkage btween USD, oil price and tg share price will become irrelevant.... 9/3

Kent05, pls read kossan boss comment. And topglov is cheaper than kossan

But short term, anything can happen.
Trade at own risk. ::)
# i still hold at paper loss

No more red. Now very low, near lowest.

Goinvest, dun be too emotional on price flctuation. When we buy, sure we have own data. My price 5.6455, i consider cheap then buy. If up to fast, then i sell. Then down too low, then i top up.
For topglov, if hold long run, should get return. Kossan ecpanding, so is topglov.
If PE 20 fair for glov counter, i discount 20% on topglov last quarter eps, still worth 6.40

我是根据你post 的kossan 的老板的comment 来分析

No more low price for glove counter. The only direction is only up. Kossan boss had told kossan price over sold. Where topglov is even cheaper than kossan

Top up 26.68, 26.70

Come down babe, i will shoot u again

Oil up, RM down.. start de-link already.
Those panic sell i think got trapped.
Those buy low congrats.
I still hold at 5.6455 :'(

After somedays, linkage btween USD, oil price and tg share price will become irrelevant.

Vicky, U r good. I still hold at 5.6455. Waiting to catch some also. But i m no rush now. Coz already got position.

Valuation and dividend wise, yes is cheap.
But market fluctuation wise, nobody knows.
Liquidity too low, hard sell hard buy

I dispose at 8.79 and 8.70. Buy back 8.55, 8.40, 8.38, 8.28, 8.03, 8.04, 8.32, 8.70, 8.89. Once already takut after fall to 7.90, haha

6.80 till 9.25 in 3 weeks only due to 2 consecutive good results.

Now second round 8.455, will dispose will more than 10.00, but max dispose 50% only. Another 50% keep long term. Hope aji change its dividend policy as cash pile already high

My first round, bought 7.125 sold 8.75

Yup YK, understand u

Towards 10.00 liao. Got buying support. Hard fall below 9.00. This year dividend 0.30 to 0.50

Aji Naik Moto , lari laju 9.50

Let the management worry on it. We just enjoy their hardwork. 12.88, yumseng

Haha

Hi YK, try look on Panamy also (^_^)