Japanese spice maker Ajinomoto said today (25 February) that it aims to grow its operating profit by more than one-quarter by fiscal 2013.
The company said that it aims to book operating profit of JPY87bn (US$1.06bn) in fiscal 2013, up from an expected JPY69bn in operating profit this year.
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Sales are expected to rise to rise to JPY1.36trn in fiscal 2013, up from an estimated JPY1.2trn in fiscal 2010. The group set a target of an 8% return on equity, almost double its fiscal 2010 outlook of 4.5%.
In order to expand revenues and profits, Ajinomoto said that it will enhance overseas growth. The company said that it hopes to generate 35% of total sales overseas by 2013, up from 31% currently. Ajinomoto indicated that it plans to introduce low-cost powdered seasonings in Europe, North America and south-east Asia.
