Synthetic fiber maker Kuraray Co. may spend about ¥200 billion on mergers and acquisitions within the next two years, President Yasuaki Wakui said Monday.
"With our net worth at ¥500 billion, procuring ¥200 billion for such transactions is feasible," Wakui said at a news conference in Tokyo.
Expanding through buying other companies is essential for reaching its goal of ¥1 trillion in annual sales from ¥385 billion last year, he said. Tokyo-based Kuraray's current business plan envisages spending ¥200 billion on facilities and on M&As by March 2011.
Wakui declined to specify the companies Kuraray is considering investing in. Details "would be announced at an appropriate time."