May 31, 2012

Meiji Milk to launch dairy products in Eastern China in 2013

Milk and yoghourt products will be launched by Japanese food company Meiji Co., Ltd. in eastern China region in January 2013.

The company has invested JPY3 billion (US$38 million) in establishing a wholly-owned plant in Suzhou city in 2011. Meiji is understood to take China, Asia and the US as the strategic overseas food markets.

According to the latest three-year interim operating plan, the company aims to harvest about CNY94.75 billion (US$14.86 billion) sales value in 2014, up 7.3% from the figure recorded in 2011. Operating profit is expected to reach CNY3.19 billion (US$500 million) in 2014, up 98.1%.

The sales value from food business is expected to account for 90% of the total sales of CNY83.6 billion (US$13.1 billion) in 2014, up 6.5% on year. Operating profit of food business is expected to hit about CNY2.39 billion (US$375 million) in 2014.