Grameen's Social Business Joint Venture With Japanese Agro-Company
Yunus Centre Press Release (13th October, 2010):
Japan's leading agro-company Yukiguni Maitake Co. (YMC), Ltd today signed a joint venture agreement with Grameen Krishi Foundation (GKF) for establishing a new social business in the field of agriculture. The joint venture aims to produce high quality mung beans in Bangladesh for both domestic consumption and export to Japan. Professor Muhammad Yunus, Chairman of GKF, and Mr. Yoshinobu Odaira, President of YMC, signed the agreement during a ceremony at Grameen Krishi Foundation today.
This joint venture social business will undertake production of the mung beans by local farmers affiliated with Grameen Krishi Foundation. Production is expected to start in February 2011. It is expected that sixty to seventy percent of the mung beans will be exported to Japanese market through YMC, while 30 to 40 percent will be sold in the local market. Japanese company will provide technology and training to produce export quality beans. These mung beans will be used in Japan to produce popular brand bean sprouts. Besides income generation for the farmers this will also ensure soil fertility by fixing atmospheric nitrogen and will be a great source of protein for the poor.
The objective of this social business joint venture will be to enhance income of the farmers, particularly for the village women who will be engaged in the processing of mung beans for export market. The company will also offer healthcare services and scholarships to children of farmers, as well as bringing new technologies to the farmers.
"We are delighted that a leading Japanese agro- company Yukiguni Maitake Co Ltd is partnering with us to create a social business in agriculture. This will start with mung bean production, but we hope will lead to other agricultural produce in future" said Nobel Laureate Professor Muhammad Yunus, Chairman of Grameen Krishi Foundation.
“Yukiguni Maitake feels proud to be a social business partner with Grameen group. It is our great honor to be the first social business agreement partner in Japan and the first in the world in the area of agriculture. By producing safe and delicious mung beans in Bangladesh, we will create employment opportunities to the poor farmers” said Mr.Yoshinobu Odaira, President of YMC.
“On behalf of Kyushu University, it is my great pleasure and honor to join the first Joint Venture Project with Grameen Krishi and Yukiguni Maitake Co.Ltd. We are committed to assist creating more social businesses with Japanese organizations in future” said Professor Hiroto Yasuura, Vice president of Kyushu University.
Grameen Krishi Foundation is a not -for-profit company that works with the farmers to facilitate agricultural production.
Yukiguni Maitake Co., Ltd is a leading Japanese agro-company renowned for its quality production of Maitake mushrooms and known for its strategic focus on innovation - in production, in quality control, and in distribution.
Contact: Ms. Shiban Mahbub, Assistant Program Officer, Yunus Centre
E-mail: shiban@yunuscentre.org
Source: Yunus Centre
Updated Date: 24th January, 2017