Tokyo-based food ingredients trader Lacto Japan has made an undisclosed investment in New Zealand startup Leaft Foods, with the goal of establishing production and distribution channels for Rubisco protein in Japan.
The two companies have been working together since last year, and the investment formalizes that relationship into a deeper commercial arrangement. Lacto Japan said the transaction will have no material impact on its consolidated results for the fiscal year ending November 2026, but indicated the move is oriented toward medium-to-long-term positioning in the alternative protein market.
What is Rubisco protein?
Rubisco is an enzyme involved in photosynthesis that is present across virtually all chloroplast-containing plants. Leaft Foods uses a proprietary extraction process to isolate the protein directly from green leaves, producing a powder with a complete essential amino acid profile that the company claims offers higher digestibility scores than conventional animal proteins, including beef and chicken.
The company produces two products at its commercial facility in Canterbury, on New Zealand’s South Island: Rubisco Protein Isolate, a powder suited to nutritional fortification and egg replacement applications, and Leaft Blade, a ready-to-drink beverage marketed as a pre-exercise protein source.
Japan as a target market
Lacto Japan operates primarily as an importer and wholesaler of dairy ingredients and functional food materials, supplying food manufacturers, retailers, and sectors including sports nutrition and health food. Its existing distribution infrastructure across those channels provides a ready route to market for Leaft Foods’ ingredients.
Rubisco protein has drawn interest as an alternative to soy and pea protein, given that its raw material is leaf biomass rather than dedicated protein crops. That feedstock distinction, along with a reported 97% reduction in carbon emissions compared to animal-based proteins, is central to the commercial case being made to food manufacturers.
“We have made this investment in Leaft Foods with the aim of establishing a production and sales framework for Rubisco Protein, expanding its business in the Japanese market, and strengthening the strategic partnership between the two companies,” Lacto Japan said in a disclosure filed with the Tokyo Stock Exchange.
