Japan’s Ajinomoto Co. said that it plans to double its food sales abroad to JPY300bn (US$3.19bn) by accelerating strategic M&A and developing new businesses in new areas.
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Celebrating its 100th anniversary this year, the company said it would expand the number of countries it operates in from 100 to 130 by fiscal 2015.
Existing business overseas will receive up to 30% more staff and funds to help expand in neighbouring countries.
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By GlobalData
The group is particularly targeting growth in South America, the Middle East and Africa.
Going head-to-head with rivals such as Nestle in these markets, Ajinomoto said it would focus on instant foods and its mainstay monosodium glutamate.
