Visions - Fall 2017 - 11

FOOD GROUP

SCOA Food Group Becomes
"Steakholder" in Iowa Beef Business

I O WA

CALIFORNIA

Santa Clara

n recent years, SCOA's Food Group has experienced significant growth in several areas, including
sales of bananas and pork, but lately, it's discovering sales and shipping of premium beef to be a
"prime" endeavor, delivering beef from cattle in Iowa to the tables of beef lovers in Japan.

SCOA's Meat Unit began delivering Iowa Premium
beef products to Japanese supermarkets, restaurants,
and department stores back in November of 2014,
with steady success. Each week, the unit facilitates
the shipping of three to four 40Ft refer containers,
which are fully-loaded refrigerated shipping containers measuring 1160 cubic feet each, along with two
to three similar containers of frozen beef as well.
Senior Director Hikaru Furakawa, head of SCOA's
Meat & Grain Unit, sees the growth potential for this
business continuing to expand.
"In the beginning of this new beef business, we
started out with a partial container load, meaning
less than a container in volume per week," Furukawa
said. "But since then, we have been able to gradually
increase to our current shipping volume with all sales
and operation teams working diligently with our
supplier, Iowa Premium Beef, and our customers in
the Japanese market. Recognition of Iowa Premium
Beef in Japan has been steadily expanding with the
assistance of media coverage, including coverage of
the Governor of Iowa's visit to Japan."
At Iowa Premium, which is still a family farm, all

their cattle are Black Angus breed only, and a very
selective process is involved in purchasing their cattle. For example, Black Angus cattle have black hair
on more than 51% of the body, but Iowa Premium
would not purchase any cattle with white hair.
"Being strictly selective about which Black Angus
cattle IP does purchase allows for exceptionally
high quality meat," said Sales Coordinator Nick
Iwashita. "As a result, the ratio of the highest
quality grade, USDA Prime, defines 19%± of Iowa
Premium Beef 's product, in comparison with that
of 5%± , which is the average for beef in the US.
Also, Iowa Premium is proud to deliver their products in the US to noted steakhouses such as Peter
Luger, Benjamin and Sparks."

NEW BUSINESS

Sumitomo Signs New Bulk Carrier Ship
Contract with Foremost Group

n August 21st, the Foremost Group, Oshima Shipbuilding Co. Ltd. (Oshima) and the
SC Group participated in a signing ceremony at the Harvard Club in New York
for a new contract to build two 84,000DWT bulk carriers. The attendees included
the Foremost Group's Chairman, Dr. James Chao; Deputy Chairman, Angela Chao;
Oshima's CEO, Sho Minami; SC Japan's Ship, Aerospace & Transportation Systems Division
GM Takeshi Murata, and Shingo Ueno, President & CEO of SCOA and GM for the Americas.
The Foremost Group is a New York based ship owner founded by Dr. Chao in 1964.Their
fleet consists of eighteen bulk carriers, four of which were built by Oshima. Those ships are
being operated by Bunge, Dreyfus, MOL (Mitsui O.S.K. Lines) and other operators worldwide.
Including these new ones, Sumitomo now has four ships on order with the Foremost Group,
and they are expected to be delivered in 2017, April 2018, April 2019 and April 2020.

Above: Signing ceremony at the Harvard Club,
New York, with President & CEO of SCOA & GM
for the Americas Shingo Ueno (far right).
Sumitomo Corporation of Americas

Table of Contents for the Digital Edition of Visions - Fall 2017