Japanese dairy-to-confectionery group Ezaki Glico has booked a jump in first-quarter profits, propelled by lower costs and higher sales.

In the three months to 26 March, Ezaki Glico said net profit increased to JPY3.55bn (US$36m), up from JPY689m in the comparable period of last year. Operating profit rose to JPY3.81bn, up from JPY1.41bn in the first quarter of 2012.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

In a regulatory filing, the company said profits were boosted by lower costs, “downsizing” and the reduction of promotional expenses.

Sales were also up in the period, rising to JPY78.41bn from JPY72.95bn in the comparable period of last year. The company said growth was driven in part by international expansion, including higher revenues from its Shanghai-based subsidiary.

The company was upbeat on its international growth prospects. Ezaki Glico recenty formed a joint venture with PT. Mitrajaya Ekaprana, a member of the Wings Group, that will see it expand in the Indonesian ice cream market.

See Also:

Commenting on the venture’s prospects Ezaki Glico said Indonesia was a “promising market” for ice cream and the group expects to benefit from PT. Mitrajaya Ekaprana’s “strong sales and marketing force” in the country.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

In May, Ezaki Glicao announced plans to sell Pocky chocolate in South Korea through a venture with local candy firm Haitai Confectionery. Pocky is sold in 30 countries; in Europe the brand is sold under the Mikado name through a venture with Mondelez International.

Click here for the Q1 release from Ezaki Glico or click here to see the announcement of the JV agreement and Indonesian entry.