J-Oil Mills Reports Key Relationship with Ajinomoto; Shares Details of Intercompany Transactions

TOKYO, May 11 (Pulse News Wire) – J-Oil Mills, Inc. (2613.T) disclosed key relationships and transactions involving its controlling shareholder, Ajinomoto Co., Inc.

As of March 31, 2026, Ajinomoto held 27.2% of J-Oil Mills' voting rights. The companies maintain a business alliance through a basic contract covering joint ventures in edible oils and fats. Additionally, J-Oil Mills employs seven employees transferred from Ajinomoto. Notably, Director Satoshi Sasaki serves dual roles as a director at both companies due to his extensive experience in food businesses and corporate governance.

Regarding intercompany transactions, J-Oil Mills reported sales of its products to Ajinomoto totaling ¥46.736 billion, while purchasing raw materials worth ¥2.39 billion. The transaction prices are determined based on market conditions and individual negotiations, ensuring fair trade terms similar to those with general suppliers. The company also noted that it pays a commission of 0.8% on certain product sales to Ajinomoto. J-Oil Mills emphasized that these arrangements do not compromise its operational independence or impose undue constraints on its business activities.

The company stated that it maintains a robust framework to protect minority shareholders’ interests, ensuring fair dealings with related-party transactions.