Japfa
{{Short description|Agriculture and food corporation}}
{{Infobox company
|name = Japfa Ltd
|logo = Japfa logo.svg
|logo_caption =
|type = Public
|traded_as = {{SGX|UD2}}
{{IDX|JPFA}}
|industry =
|products = Poultry
Processed meat
Animal feed
Dairy products
|founded = 1971
|founder =
|key_people =
|location =
|area_served = Indonesia
Vietnam
Myanmar
Bangladesh
India
|revenue = USD 4.4 billion (2023){{cite web |title=Japfa Ltd Annual Report 2023 |url=https://www.japfa.com/files/report/Japfa_Annual_Report_20231.pdf |access-date=19 September 2024}}
|net_income = USD 118.8 million (2023)
|equity =
|owner =
|subsid =
|location_country = Singapore
|assets =
|website = {{url|japfa.com}}
}}
Japfa Ltd is a multinational agriculture and food corporation headquartered in Singapore with its origins and primary operations in Indonesia (as PT Japfa Comfeed Indonesia Tbk), along with subsidiaries which operate in the rest of Asia. The company was founded in 1971, and listed at the Jakarta Stock Exchange and the Singapore Stock Exchange in 1989 and 2014 respectively. Its business include animal feed alongside fish and poultry products.
History
The company's operations in Indonesia originated in 1959, when Ferry Teguh Santosa founded PT Ometraco as a diversified group.{{cite news |title=Bos Japfa Tutup Usia di Umur 58 Tahun |url=https://bisnisindonesia.id/article/bos-japfa-tutup-usia-di-umur-58-tahun |access-date=17 September 2024 |work=Bisnis Indonesia |date=26 September 2022 |language=id}} Japfa was founded in 1971 at Surabaya, as a joint venture between Ometraco and German firm Internationale Graanhandel Thegrau to manufacture copra pellets and coconut oil. Its name was initially PT Java Pelletizing Factory.{{cite news |title=Indonesian Capital Market Directory |url=https://books.google.com/books?id=EroqAAAAMAAJ&q=japfa+1971+joint+venture+surabaya |publisher=Institute for Economic and Financial Research |date=1995|page=22 |language=en}}{{cite book |title=Winarto & Wang's Indonesia Stock Market Handbook |date=1991 |publisher=Bisnis Indonesia |page=217 |url=https://books.google.com/books?id=1H4VAQAAIAAJ&q=japfa+1971+joint+venture |language=en}} In 1982, Ometraco took over Thegrau's stake.{{cite web |title=Livestock Industries of Indonesia prior to the Asian Financial Crisis |url=https://openknowledge.fao.org/server/api/core/bitstreams/0b48096b-bbc6-4b88-88dd-b7272770bff9/content |publisher=Food and Agriculture Organization |access-date=19 September 2024 |page=196 |date=1999}} Ferry's son, Handojo Santosa, joined Japfa in 1986 and later took over management of the company. Japfa entered the aquaculture industry in 1987.{{cite web |title=Ringkasan Usaha |url=https://www.japfacomfeed.co.id/ringkasan-usaha |publisher=Japfa Comfeed |access-date=19 September 2024 |language=id}}
It had its initial public offering at the Jakarta and Surabaya Stock Exchanges in 1989.{{cite web |title=Stock and Bond Information |url=https://www.japfacomfeed.co.id/stock-bond-information |publisher=Japfa Comfeed Indonesia |access-date=19 September 2024}} In 1990, the company took over assets from a number of other food manufacturers under Ometra, and renamed itself to PT Japfa Comfeed Indonesia.{{cite web |title=Jejak Langkah Perseroan |url=https://www.japfacomfeed.co.id/jejak-langkah-perseroan |access-date=17 September 2024 |language=id}} Ometra went bankrupt due to the Asian financial crisis in 1997, but Japfa remained operational.{{cite news |title=Dari Mana Kekayaan Alm. Bos Japfa Handojo Santosa? |url=https://context.id/read/627/dari-mana-kekayaan-alm-bos-japfa-handojo-santosa |access-date=19 September 2024 |work=context.id |date=26 September 2022 |language=id}} The company listed itself at the Singapore Stock Exchange on 15 August 2014.{{cite news |title=Japfa rises 5.6% from IPO price in SGX debut |url=https://www.todayonline.com/business/japfa-rises-56-ipo-price-sgx-debut |access-date=19 September 2024 |work=TODAYonline.com |date=15 August 2014 |language=en}}
Corporate affairs
In 2021, Japfa sold an 80% stake in its branded dairy subsidiary Greenfields to private equity groups TPG and Northstar Group for USD 236 million.{{cite news |title=Japfa completes disposal of 80% interest in Greenfields Dairy Singapore |url=https://www.businesstimes.com.sg/companies-markets/japfa-completes-disposal-of-80-interest-in-greenfields-dairy-singapore |access-date=19 September 2024 |work=The Business Times |date=2 February 2021}} In 2022, the group listed its China-based dairy subsidiary AustAsia at the Hong Kong Stock Exchange, distributing the subsidiaries' shares to shareholders.{{cite news |title=Japfa shares tumble 35.5% amid listing of its dairy business in Hong Kong |url=https://www.straitstimes.com/business/japfa-unit-begins-trading-on-hong-kong-exchange-share-offerings-oversubscribed |access-date=17 September 2024 |work=Straits Times |date=30 December 2022}} As of 2022, it is the second largest poultry and animal feed producer in Indonesia, behind Charoen Pokphand.{{cite news |title=4 Emiten Pakan Ternak di Bursa Efek Indonesia |url=https://snips.stockbit.com/investasi/saham-pakan-ternak |access-date=17 September 2024 |work=stockbit.com |date=10 April 2022 |language=id}} In 2018, the company was fined Rp 2 billion (USD 140,000) by the Indonesian {{ill|Business Competition Supervisory Commission|id|Komisi Pengawas Persaingan Usaha}} for failing to provide a notice to the body following its acquisition of a smaller firm.{{cite news |title=Japfa kalah lawan KPPU di Pengadilan Negeri Jakarta Selatan |url=https://nasional.kontan.co.id/news/japfa-kalah-lawan-kppu-di-pengadilan-negeri-jakarta-selatan |access-date=19 September 2024 |work=kontan.co.id |date=18 December 2018 |language=id}}
The company's Indonesian subsidiary made up approximately 75% of its total revenue in 2023, with other subsidiaries primarily operating in Vietnam, Myanmar, India, and Bangladesh.
Products
The company produces animal and aquaculture feed, whole poultry carcasses, beef, processed poultry products, and processed seafood.{{cite news |title=PT Japfa Comfeed Indonesia, Perusahaan Agri-food Terbesar dan Terkemuka di Indonesia |url=https://www.liputan6.com/hot/read/5161289/pt-japfa-comfeed-indonesia-perusahaan-agri-food-terbesar-dan-terkemuka-di-indonesia?page=4 |access-date=19 September 2024 |work=liputan6.com |date=22 December 2022 |language=id}}