PIGEON CORPORATION, a leading baby-bottle maker, posted strong interim results for the current fiscal year, with revenue of ¥59.0 billion and operating profit of ¥7.9 billion, and unveiled a strategy positioning growth in North America as a new “second pillar.” The company aims for sustainable profit growth by reducing its reliance on China and expanding in North America, Europe and India.
Rapid growth in North America stood out, with PIGEON CORPORATION's interim results for the current fiscal year showing revenue of ¥59.0 billion and operating profit of ¥7.9 billion, both up year on year. Baby-bottle sales in particular increased substantially, rising approximately 130% for the Pigeon brand and approximately 70% for the Lansinoh brand. Expansion of the distribution network supported growth, with increased exposure in retail stores following new distribution to Target cited as a factor.
The company emphasized its policy of reassessing its reliance on the Chinese market and developing North America into its “second profit pillar.” It is targeting a 20% global market share in feeding bottles and nipples by 2035. Higher costs in North America were cited as a risk that could weigh on profit, while expansion into Europe and India is also attracting attention. The share price underwent a temporary correction after the results were announced but recovered again in October.