Yutaka Shoji plans to invest more than RM13 million in its operations in Malaysia.
Japan’s leading brokerage firm Yutaka Shoji says the crude palm oil market in Malaysia has not been fully explored.
In a statement, Yutaka Shoji Malaysia managing director Tsuyoshi Morita said Malaysia’s open business climate and strong bilateral ties with Japan have been the driving force underlying Yutaka’s Shoji’s investment decision.“We see ourselves taking a role in advancing the market, as we have the necessary skill sets in commodity futures trading to offer price stability for both local and global buyers,” he said.
“We foresee demand from Japanese buyers comprising up to 50 per cent of our initial business, given Japan’s need for CPO as part of its renewable energy policy. He said that after the Fukushima nuclear tragedy in 2011, the Japanese government approved a strategic plan for industries to embrace renewable energy as a step towards enhanced environmentally friendly standards.
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