Topic “Japan” — Exporter Magazine

Tesco has announced that it intends to sell off its Japan business after eight years trying to break into the market, according to BBC News. The Fukushima plant, hit by the March 11 earthquake and tsunami, has contaminated soil, seawater and drinking water as it leaks radiation, prompting local and overseas consumers to seek safer food supplies. Governments worldwide have also curbed imports of Japanese foodstuffs. Toyota closed 12 plants, a spokeswoman said. Its profit will be cut by ¥6 billion ($AUD73 million or NZD$99.6 million) for each day of lost operations. Nissan and Honda could each lose ¥2 billion a day after closing plants, Goldman Sachs estimates. Sony and Toshiba have also shut plants. Datamonitor analyst Varun Kumar told BakeryandSnacks.com that, globally, Japan is “at the bottom of the ladder” in terms of bakery sales growth with an estimated CAGR of only 1% for the next five years, whereas countries such as India and China rank highest with 11% and 10% estimated CAGR over the next five years. Two of the new functional systems under Cargill’s Asian ingredients brand, Protex CF 6205 and Protex CF 6206, are intended for use in Mochi buns and donuts, Japanese delicacies traditionally made from pounded and shaped glutinous rice but which can also be made from rice flour. Hobda plans to lease the scooters instead of selling them and hopes to set a price that will cost less than a regular bike over three years, including gas prices — a range that would be about ¥600,000 (NZD$9,000) to ¥800,000 (NZD$12,000) each.