Ajinomoto Co., the seasonings maker that first sold monosodium glutamate, may spend more than ¥100 billion on acquisitions in the next three years to help cut costs and expand overseas.
"We haven't set a limit on the amount because it depends on available opportunities," Chief Executive Officer Masatoshi Ito said in an interview in Tokyo on Thursday. "We have a proactive stance on acquisitions."
Ajinomoto, which began selling monosodium glutamate as a food flavoring a century ago, is expanding overseas, including Africa and the Middle East, as a shrinking population dims prospects in Japan. The food maker, which hasn't made an acquisition since 2007, will make a profit in the 12 months ended March after posting its first loss in eight years for the previous fiscal year, Ito said.