Kikkoman Corp. remains confident that former President Donald Trump’s tariff plans won’t hamper its North American operations, which generate more than 60% of the company’s consolidated operating profit.
CEO Shozaburo Nakano told Nikkei that the Japanese soy sauce maker has effectively insulated itself from trade tensions by producing locally with American ingredients for over five decades. “Our soy sauce is made and sold with American ingredients and materials, so it is not affected by tariffs,” Nakano said.
The company plans to increase its U.S. production capacity by 30% to 40% over the next decade with a new factory opening in 2026. Nakano believes the American market has potential to double, citing opportunities to expand among Latin American consumers and younger demographics through targeted product development and social media outreach.
Kikkoman expects a 9% rise in net profit for the fiscal year ending March 2025, marking its 12th consecutive record performance. The company reported a 12.5% return on equity for the year ended March 2024, surpassing its target of 11%.
After dissolving its capital partnership with food processor Riken Vitamin, Nakano indicated Kikkoman now has “financial leeway” for potential acquisitions while continuing share buybacks to return profits to investors.
