Japanese food group Ajinomoto today (10 May) targeted a hike in profits for its next fiscal year after the company swung back into the black in the 12 months to the end of March.

Ajinomoto forecast net income of JPY23bn (US$246.7m) for the year to the end of March 2011 following the company’s disclosure that it made net income of JPY16.6bn for the 12 months to the end of March this year. In the year to the end of March 2009, Ajinomoto fell to a net loss of JPY10.2bn.

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Ajinomoto’s improved bottom line in its last financial year came despite a 2% fall in net sales to JPY1.19bn.

Domestic food sales fell 4% to JPY626.8m. Overseas food sales, meanwhile, climbed 44% to JPY214.6m.

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