January 11, 2024

   The Kikkoman Corporation plans to build a new plant in the State of Wisconsin, expanding operations of its U.S. production facilities, Kikkoman Foods Inc. (KFI, Head Office: Walworth, Wisconsin), subject to state and local final approvals.
  The new plant will be our third location in the United States, after the Wisconsin Plant that began shipping in 1973 and the California Plant that began shipping in 1998, and our ninth overseas production base. Estimated investment is approximately USD 560 million over a 10-year period.

  The Kikkoman Group has stated the number one goal of our long-term vision “Global Vision 2030”, launched in 2018, to be “Make Kikkoman Soy Sauce a truly global seasoning”. Our soy sauce business in North America continues to grow, and currently Kikkoman Soy Sauce is No.1 in the home-use soy sauce market in North America.
 Furthermore, we are capitalizing on our brand strength to focus on expanding our business for soy sauce-based cooking sauces, including teriyaki.

  Together with the growth of our business, our Wisconsin Plant has steadily increased its shipment volume. In addition to meeting the increasing demand for soy sauce in the North American market, with this new construction we are aiming for a sustainable next-generation production plant that combines flexibility with production efficiency and scalability for multi-production of a variety of products to meet customer needs. This will enable us to establish a supply chain with increased stability in North America, our Group’s largest overseas market.

  We will undertake the following initiatives for construction of the new plant:

  In 2023, our Wisconsin Plant celebrated the 50th anniversary since its grand opening.
  Looking towards the next 50 years, the Kikkoman Group will continue to deliver high-quality products and services that meet customer needs and proactively carry out initiatives rooted in the local community to fulfill our responsibilities as a good corporate citizen.
  Together with promoting the international exchange of food culture, we will accelerate towards our goal to “Challenge to create new value”, as stated in our Group’s “Global Vision 2030”.

(*) Calculated based on the foreign exchange rate of JPY 142.66 / USD 1.00 (released on November 2, 2023) used for consolidated earnings forecast for fiscal year ending March 31, 2024.