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Has Calbee’s profit slump put PepsiCo partnership in balance?

Japanese snack giant Calbee has reported a slump in profits. Pic: ©GettyImages/switchpipipi/BellisimoJapanese snack giant Calbee posted a profit decline for its third quarter results for fiscal year ending March 31, 2018 due to sharp slowdown in North America, possibly putting its business partnership with PepsiCo on the line. Under the reigns of chairman and CEO Akira Matsumoto, Calbee has consistently posted double-digit profit growth since going public in 2011. However, according to CFO Koichi Kikuchi, those days are over and Calbee’s North American unit cannot plan for high growth like in the past. The Tokyo-based company reported a 1.2% decrease in net sales for the nine-month period under review to $1.74m from $1.76m. Operating income dropped 13.7% due to diminished sales in cereals and potato-based snacks in both its domestic and North American markets. The decline in North America has put Calbee’s business partnership with its largest shareholder PepsiCo in the spotlight. More

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