Japanese trading house Itochu Corp has said it plans to expand its food business and strengthen its operations in other Asian countries, particularly China.
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Itochu said it aims to increase its net profit from its food business to ¥22bn (US$207.4m) next fiscal year from ¥11.9bn in fiscal 2002, reported Asia Pulse.
As well as expanding its operations in staples such as grain, edible oils and animal feed, Itochu plans to focus on value-added products, such as dairy products.
Itochu plans to invest ¥30bn over the next two years to improve its food business in Japan, Asia Pulse said.
