Japanese food group Ajinomoto has upped its profit forecast for the full year on higher sales of seasonings.
For the period to 31 March, the firm has forecast a net income of JPY15bn (US$166m), a JPY5bn increase on the previous target.
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Operating income is expected to come in 34.7% higher at JPY66bn.
Sales, however, are targeted to remain the same at JPY1.18bn.
Within the Ajinomoto’s overseas food products business, sales of umami and flavour seasonings for home use have been strong in Asia, as have sales of nucleotides, the firm said.
In addition, with the “calming” of raw material prices, which had been rising steeply, Ajinomoto projected that operating income from its overseas food products business would exceed the previous forecast.
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By GlobalDataOperating income in the company’s amino acids business is also expected to exceed the company’s previous targets, with unit prices for feed-use amino acids recovering.
However, operating income from Ajinomoto’s domestic food products is projected to fall below the previous forecast.
