Kewpie plans to set up subsidiary in China

Japanese based Kewpie Corp plans to set up a wholly-owned food subsidiary in Guangzhou, China in January 2018, with a registered capital of Rmb 270 million (US$41.9 million).
The reason for the new unit, Kewpie China Corporation, is to accommodate to Kewpie’s plan of setting up a production base in South China area, and allow greater penetration into this market.
Kewpie, famous for its mayonnaise and dressings, recorded good performance in China, which is the company’s biggest foreign market with projected sales of US$165 million in 2017. China’s strong performance has offset its lacklustre performance in the North American market.