stablished in 1934 as a liquor manufacturer, Mercian Corporation has become one of Japan's leading producers of wine, Oriental liquors and low-alcohol beverages. The Company has also established a strong record of selling a wide range of imported alcoholic beverages. Throughout its history, Mercian has used original fermentation know-how and biotechnology to expand its business horizons. In addition to its alcoholic beverages business, the Company manufactures and markets pharmaceuticals, chemicals and feedstuffs. Mercian's network consists of five branch offices, eight factories and two research facilities in Japan, as well as one representative office and five production facilities overseas. Two of the overseas production facilities are wholly owned, while the remaining are affiliates in which Mercian's equity participation is less than 50%. Mercian enjoys a close relationship with the Ajinomoto Group-one of Japan's largest food manufacturers-in such areas as sales, distribution and information processing.