Fuji Oil Holdings (TYO:2607) is acquiring full ownership of its joint venture, FII, by purchasing additional shares from Itochu International, according to its Tuesday filing.

The acquisition aims to streamline management, enhance technological input, and better respond to industry and consumer changes.

Currently, Fuji Oil holds 80% of FII, and the acquisition of the remaining 20% will occur on March 14. The board resolution and contract for this acquisition were both finalized on Feb. 25.

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