Abstract: An aqueous alkyd resin obtained by the neutralization of a polycondensation resin with a base, the polycondensation resin being prepared by reacting a reaction mixture obtained by the transesterification or esterification of (a) a natural fat and oil or a fatty acid with a polyhydric alcohol with an adduct of (b) a liquid polybutadiene having a number average molecular weight of 150 to 900, a viscosity of 2 to 80 cps. at 30.degree. C and at least 50% of the cis-1,4 structure with an .alpha.,.beta.-unsaturated dicarboxylic acid or the anhydride thereof, and/or the half-ester of said adduct, and with (c) an aromatic polycarboxylic acid or the anhydride thereof, and the polycondensation resin having free carboxyl groups in the amount corresponding to an acid value of 30 to 70 and containing 5 to 50% by weight of the component (b). This alkyd shows excellent coating film properties when used for water-base paints, printing inks and the like.

Abstract: Producing koji for fermented food products by modifying an unmodified koji-substrate composed of a vegetable protein material and a vegetable carbohydrate material, inoculating a koji mold in the resulting modified koji-substrate, and cultivating it, wherein said cultivation is carried out in the presence of 0.1 to 1.2% by weight, based on the water content of the modified koji-substrate, of acetic acid added. This process is suitable for use in the manufacture of fermented foods such as soy sauce, miso, or sake.