Japanese seasoning company Ajinomoto said it will look at merger and acquisition possibilities in the food industry in a bid to expand, according to reports.
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In a recent interview, president Norio Yamaguchi said the company will “study” opportunities, including overseas firms, “in a proactive manner”.
He said that the strong yen and the recession had put it in a position to buy companies at home and abroad “cheaply”.
The statement follows the company’s announcement last week that it predicted a full-year loss after swinging into a net loss for the nine-month period ended 31 December.
The company posted a net loss of JPY4.31bn (US$48.2m) for the first nine months of its fiscal year, down from profits of JPY30.26bn seen in the comparable period of last year.
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By GlobalDataThe group blamed the strength of the yen and a drop in demand.
