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MarketScreener Homepage  >  Equities  >  Tokyo  >  Ajinomoto Co., Inc.    2802   JP3119600009

AJINOMOTO CO., INC.

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Ajinomoto : Thailand approves almost $1 billion of foreign investment amid U.S.-China tensions

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09/20/2019 | 10:16am EDT
Cars pass Skytrain construction site in Bangkok

BANGKOK (Reuters) - Thailand has approved four investment projects from Japan, Taiwan and Singapore worth almost $1 billion as it strives to court investors keen to avoid the fallout of a trade war between the United States and China.

The projects total 28.3 billion baht ($927 million), the Board of Investment (BOI) government agency said on Friday, with the biggest being a 18.5-billion-baht joint venture between Thai, Japanese and Taiwanese companies to produce thermoplastic for cars and electronics.

The three smaller projects include one involving Japan's Ajinomoto Co Inc. unit in Thailand, the BOI added.

Earlier this month, the government announced a relocation package to attract foreign companies looking to move production due to the intensifying U.S.-China tensions, seeking to compete with Vietnam to lure manufacturers hit by tariffs.

The scheme offers a 50% corporate income tax reduction for another five years for those who apply by 2020 and requires that at least 1 billion baht of real investment is deployed by 2021.

Thailand, Southeast Asia's second-largest economy, aims to approve investments projects worth 750 billion baht for 2019. It approved 709 billion baht worth of investments last year.

"Many companies that were impacted by the trade war are looking for new locations," BOI Secretary-General, Duangjai Asawachintachit, told Reuters in an interview adding they were getting more interest from China, Taiwan and South Korea.

This presents an opportunity for Thailand, she said.

The BOI has also introduced other incentives in a an attempt to boost workforce skills labour with companies that run training programs or setting up corporate academies receive varying levels of tax exemptions, Duangjai added.

These incentives target 10 industries including, aviation, medical services and robotics.

(Reporting by Chayut Setboonsarng; Editing by Pravin Char)

By Chayut Setboonsarng

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Financials (JPY)
Sales 2020 1 154 B
EBIT 2020 91 766 M
Net income 2020 53 037 M
Debt 2020 166 B
Yield 2020 1,61%
P/E ratio 2020 20,6x
P/E ratio 2021 18,7x
EV / Sales2020 1,09x
EV / Sales2021 1,05x
Capitalization 1 096 B
Technical analysis trends AJINOMOTO CO., INC.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 13
Average target price 2 103,85  JPY
Last Close Price 2 000,00  JPY
Spread / Highest target 25,0%
Spread / Average Target 5,19%
Spread / Lowest Target -5,00%
EPS Revisions
Managers
NameTitle
Takaaki Nishii President, CEO & Representative Director
Masatoshi Ito Chairman
Kazuya Onomichi Manager-Research & Development Planning
Sakie Fukushima Tachibana Independent Outside Director
Tamotsu Iwamoto Representative Director & Executive Vice President
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