Vancouver, British Columbia-headquartered Phivida Holdings Inc., a premier brand of cannabidiol-infused functional foods, beverages and clinical products, has entered into a product distribution agreement with Asayake Inc. to sell its cannabidiol (CBD) products across Japan. The new distribution agreement is part of a greater global expansion strategy and equips Phivida with the ability to capture a greater share of the Asian Pacific market. The annual supplement sales alone for the region are valued at over US$10 billion, and functional foods are valued at over US$21 billion. Japan's consumer economy is health conscious, sophisticated and it is the third largest in the world. Japan also has an aging population, which presents a heightened need and adoption of preventative health and wellness through clinical grade CBD products.