Meiji Holdings is reducing its dairy business in China, with an Australian-Asian group company taking over for over 300 million yuan.

Meiji Holdings of Japan announced on July 21 that it would sell its dairy and yogurt business in China to Shanghai Ouuya Food for approximately 7.6 billion yen. Meiji Holdings stated that they are currently evaluating the impact of this transaction on their consolidated financial performance. On the same day, OuYa Group announced that its wholly-owned subsidiary Shanghai Ouuya Food intends to acquire all the shares of Meiji China's newly established subsidiary, with a basic purchase price of 320 million yuan, adjusted to a maximum of 350 million yuan.