Seasonings company Ajinomoto Co. is considering acquisitions and plans to boost its pharmaceutical business to improve profitability.
The company, which said last year it may spend ¥300 billion on deals, will evaluate purchases in areas such as seasonings and will consider developing new medicines or buying rights for drugs under development, President Masatoshi Ito said in an interview July 3 in Tokyo.
Ajinomoto, which projected an operating profit of ¥87 billion in the year ending March 31, 2014, may find reaching the target "a little difficult" because of weaker earnings at its pharmaceuticals business and some overseas seasonings operations, Ito said.