Ichitan Launches Fertilizer Business Unit
Ichitan Group will establish a new fertilizer subsidiary with 51% ownership through a 150-million-baht joint venture with EYW Group, targeting import and distribution of compound fertilizers and agricultural chemicals.
Ichitan Group (ICHI) announced on September 8, 2026 that its sixth board meeting of the year approved a joint investment with EYW Group Holding Company Limited (HoldCo) to establish a new subsidiary called Tan Fertilizer Company Limited. The subsidiary will handle the import, production, and distribution of compound fertilizers for field and garden crops, as well as related agricultural chemicals and equipment.
The new joint venture will be capitalized at 150 million baht, divided into 1.5 million ordinary shares at 100 baht per share. ICHI will hold 51 percent of shares while HoldCo will hold 49 percent. HoldCo's major shareholders are Ekyongwong Company Limited with 45 percent and Nattawut Srisuthep with 44 percent, both experienced in fertilizer production and distribution as well as other agricultural goods.
Tan Fertilizer Company Limited will have a five-member board of directors: three appointed by ICHI and two by HoldCo. The initial capital call will be 25 percent upon establishment, with full payment due by May 2027 using ICHI's working capital. The subsidiary is expected to be registered by December 31, 2026.
ICHI stated that this transaction does not require shareholder approval and is not a related-party transaction under Securities and Exchange Commission guidelines, though the company will disclose relevant information to the Stock Exchange of Thailand. The company will notify the exchange and shareholders of any further progress on the subsidiary's registration.
