Calbee is gearing up a U.S. marketing campaign for its best-selling Jagarico potato snack in an aggressive drive to increase overseas sales. The Japanese snack company recently unveiled its medium-term business plan calling for overseas operations to account for 25% of total sales by March 2024, up 9 points from fiscal 2018.
One year after the departure of visionary chairman and CEO Akira Matsumoto, who transformed the small family-owned business into a snack powerhouse, Calbee is laying plans for future growth in the U.S., China and beyond.
In a May 15 news conference, President and CEO Shuji Ito pledged to expand foreign sales. Ito’s long-term vision has overseas operations accounting for over 40% of total sales by 2030.
Calbee’s sales have declined for two straight years. Some analysts, including Nomura Securities’ Satoshi Fujiwara, note that the company has failed to make any big moves overseas in the past few years. Investors have taken notice of the new growth plans, with shares in the company having reversed their downward trend, at least temporarily.