Eurofins enters Japanese Genomics market by taking a stake in Fasmac
Eurofins has recently become one of the major shareholders in Fasmac Co. Ltd. located in Kanagawa, Japan. This allows the Group to enter into the Japanese genomics markets.
Fasmac (an abbreviation for Food Assessment and Management Center), a subsidiary of Nippon Flour Mills Co., is the leading GMO testing laboratory in Japan as well as a producer of high purity oligonucleotides. All the oligonucleotides for the Japanese standard GMO testing methods are provided from Fasmac in its role as operator of the patent for the Japanese Standard Method. Nippon Flour Mills, listed at the Tokyo stock exchange, is the second largest Japanese industrial flour miller and producer of flour-related products for industrial, food service, and domestic uses.
Fasmac is the exclusive licensee of Eurofins | GeneScan in Japan. Eurofins is Fasmac's exclusive licencee in the USA. Fasmac will be able to use the proven analytical procedures developed by Eurofins | GeneScan and intends to deliver the full range of Eurofins| GeneScan's PCR products and services directly to the Japanese market.
It is planned that Eurofins will increase its stake in Fasmac over time. Initially, Fasmac will not be fully consolidated in the Eurofins Scientific accounts due to the percentage of Eurofins' shareholding.
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