What's going on in Japan
What's going on in Japan? (No.10)
A battle over Fumakilla Ltd., the nation's third-largest maker of insecticides, is intensifying between industry leader Earth Chemical Co. and the largest shareholder S.T. Corp., a major producer of daily-use items. Both Earth Chemical and S.T. Corp. are trying to woo Fumakilla because of its strength in overseas markets. Fumakilla, known for its Vape, mat-type electric mosquito killer developed in 1963, has made inroads into 80 countries since it began expanding overseas in the 1970s. Overseas sales account for more than 20 percent of Fumakilla's overall sales, far exceeding the rates of rivals Earth Chemical and Dainihon Jochugiku Co. Both companies have maintained close ties, with Fumakilla rolling out insecticides under S.T.'s name and reciprocating shareholdings. Earth Chemical began buying Fumakilla shares around 1997 and controls 10.48 percent.
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