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FY2022Q4 Earnings Conference: Major Q&A ・Date/time May 11, 2023 (Fri.) 10:00 – 11:00(JST) ・Speaker President and CEO (Chief Executive Officer) Mikio Sakai CFO (Chief Financial Officer) Tomoki Matsumoto President of FUJI OIL Co., Ltd. Tatsuji Omori CSO (Chief Strategy Officer) Hiroyuki Tanaka Q. Regarding the Americas Vegetable Oils and Fats Business, what is your view of the business environment in the USA and what is the background of your FY2023 plan for higher profits? A. Demand for southeastern oils and fats for food purposes is increasing steadily due to the Green New Deal policy in the USA, which led to increased applications for soybean oil as biodiesel. However, at present, we are seeing weak consumption on factors such as advancing inflation and rising interest rates. Our FY2023 plan for increased profits is based on the favorable impact from the transfer of fixed assets of Fuji Oil New Orleans, which recorded a loss in FY2022. Additionally, plans for increased profit also reflect improvements in profitability at our existing plant Fuji Vegetable Oil. Q. What initiatives are you implementing to make improvements at Blommer? A. In FY2022, we launched a plant-specific management structure for the four Blommer plants, and we are […]
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