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Ajinomoto could spend up to $1.7 bln on M&A by FY2016 -president
September 1, 2015 / 6:37 AM / 2 years ago

Ajinomoto could spend up to $1.7 bln on M&A by FY2016 -president

TOKYO, Sept 1 (Reuters) - Japan’s Ajinomoto Co Inc has about 150-200 billion yen ($1.3-$1.7 billion) that it could spend on acquisitions and alliances by its 2016 fiscal year, its president said, as it aims to become a top-10 global food company in the coming years.

Takaaki Nishii, who took the helm in June, also told Reuters in an interview that his company would seek more business opportunities to sell to European consumers.

Ajinomoto last year bought Texas-based frozen-food maker Windsor Quality Holding for about $800 million, boosting its presence in the U.S frozen food market, and is also focusing on expanding sales in fast-growing markets in Southeast Asia and Brazil. ($1 = 120.4300 yen) (Reporting by Yu Wang and Ritsuko Shimizu; Editing by Chris Gallagher)

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