By SeafoodSource staff
Published on Friday, February 03, 2012
Toyota Tsusho Foods Corp. (TTFC), an affiliate of Toyota Group of Japan, is relocating its seafood and marine products manufacturing operation from China to the Philippines after encountering problems with its Chinese suppliers.
TTFC is a wholly-owned subsidiary of Toyota Tsusho Corporation (TTC) of Japan. It is the trading company of Toyota Motor Group of Companies and Toyota Motors Corp. is the majority stockholder.
For its local venture, TTFC has partnered with HJR International Corp. of Cebu to put up a 50-50 joint venture called Mandaue Cebu Marine Products Corp. (MCMPC). HJR has been TTFC’s supplier of frozen shrimp.
Based on its application for registration with the Board of Investments (BoI), TTFC has decided to gradually transfer some of its business operation in China to the Philippines because it has been encountering problems with its Chinese supplier on labor, escalating fees and food-safety issues.