JAPAN – Snow Brand Milk Products, which has been rocked by a three major scandals in the last two years, has seen its brand value fall by 70 billion yen (600 million euro) during the period.

The deterioration of the brand shows the effect of the firm’s food poisoning scandal in 2000, a recall of 16,000 boxes of ice bars in 2001 and a beef mis-labelling fiasco at its Snow Brand Foods subsidiary earlier this year.

Snow Brand Milk Products is expected to appeal for investment from trading house Itochu this week. Snow Brand has also said that it may merge its milk operations with Japanese milk co-op Zen-noh. Such a deal would be a major step in Snow Brand’s battle to restore the faith of investors.

Snow Brand needs 25 billion yen (214 million euro) to repay debts at its subsidiary Snow Brand Foods, which is to be liquidated next month.