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Japan Foods’ plans to resume international expansion to support higher profits in the medium term: RHB

Khairani Afifi Noordin
Khairani Afifi Noordin4/29/2022 10:16 AM GMT+08  • 2 min read
Japan Foods’ plans to resume international expansion to support higher profits in the medium term: RHB
The reopening of the domestic economy and the international borders would boost Japan Foods’ revenue for the next 12 months. Photo: Japan Foods Holdings
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RHB Group Research analyst Shekhar Jaiswal has maintained his “buy” call for Japan Foods Holdings, lifting his target price to 55 cents from the previous 50 cents, representing a 31% upside.

He has also made slight upgrades to his FY2023 and FY2024 estimates, amid expectations of a gradual revival in consumer discretionary spending as Singapore is now fully open for business and tourism.

“While a return to pre-pandemic earnings may still be few years away, Japan Foods’ plans to gradually resume its international expansion should support higher profits in the medium term,” says Jaiswal.

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