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CJ Sets Up Chinese Subsidiary

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Below is the excerpted article from the Korea Tiems on January 17,2005. .
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CJ Corp., a leading manufacturer of food items, on Monday reported it had established a subsidiary in China.

The Chinese unit, named Beijing Bakery, will produce a wide range of baked goods and high-quality processed food items, according to a public release.

CJ’s net profit fell 6.1 percent to 158.2 billion won ($153 million) in 2004 from 2003, while its revenue jumped 5.7 percent to 2.54 trillion won over the same period.