Japanese company Nichirei Foods has become a strategic shareholder in the HCM Stock Exchange listed firm Cholimex (CLC) after paying 6.25 million USD for a 19-percent stake in the company, which mostly makes sauces and spices.

The 80 billion VND (3.8 million USD) company last year earned a net profit of almost 35 billion VND (1.6 million USD), surpassing its annual target by 21 percent. Shareholders will receive a 20 percent cash dividend for 2011.

At the company's annual meeting on April 20, shareholders approved a target of 47 billion VND (2.24 million USD) in pre-tax profits this year.-VNA