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No to price cuts

This article was originally published in Foodnews

JAPANESE food group Ajinomoto is looking into mergers and acquisitions within the food industry, including overseas firms, according to its president, Norio Yamaguchi. The news comes after the company's announcement that it has made a YEN4.0 billion (US$43.7 million) loss in the nine months to 31 December 2008, and that it expects full financial year losses of up to YEN13.0 billion. However, Yamaguchi appeared to have ruled out price reductions on Ajinomoto's products.

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