Yomiuri Shimbun Staff Writer
Kewpie Corp. intends to expand its overseas net sales to 180 billion yen by fiscal 2028. With the company's overseas supply system now established, "we have finally entered the stage of raising our brand awareness," a company executive said during an interview with The Yomiuri Shimbun.
The following is excerpted from the interview with Motoki Tanaka, a corporate officer and senior general manager of the Management Promotion Division at the Japanese condiment maker.
The Yomiuri Shimbun: You reported increases in net sales for four consecutive years and record-high operating income for the second consecutive year in fiscal 2025 (that ended November 2025).
Motoki Tanaka: In addition to the growth of the overseas business, sales of condiments and processed egg products have increased, leading us to expect a new record high again in operating income for fiscal 2026. We set targets of 600 billion yen in net sales and 45 billion yen in operating income for fiscal 2028.
To enhance our profitability, we will allocate 75 billion yen to aggressive investments, excluding maintenance costs and the like, out of 100 billion yen in total capital investments for fiscal 2025-28. This is 1.8 times the amount invested from fiscal 2021-24. Domestically, in anticipation of a shrinking workforce, we will invest in areas such as robots and digital technologies.
The key to growth lies overseas. Our overseas net sales, driven by the North American (market), exceeded 100 billion yen in fiscal 2025. We aim for 180 billion yen by fiscal 2028.
During fiscal 2025, we newly launched or expanded overseas plants at three locations, including the establishment of a new factory in the United States. We have now established a supply system for our global strategic products -- mayonnaise and deep-roasted sesame dressing. We have finally entered the stage of raising our brand awareness.
Yomiuri: What are your initiatives for shareholders?
Tanaka: We plan to maintain a total return ratio (the proportion of net profit allocated to dividends and share buybacks) of 50% or higher from fiscal 2025 through 2028. In January, we announced a 10 billion yen share buyback plan. We will also continue to increase dividends. In fiscal 2025, we paid a total of 64 yen per share, comprising an ordinary dividend of 54 yen and a commemorative dividend. We plan to raise the ordinary dividend to 65 yen in fiscal 2026. We also intend to organize factory tours and opportunities for dialogue with management.
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This article is from The Yomiuri Shimbun. Neither Dow Jones Newswires, MarketWatch, Barron's nor The Wall Street Journal were involved in the creation of this content.
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July 21, 2026 06:20 ET (10:20 GMT)
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