Outline of “Face value” of The Economist, April 11th- 17th

Face value: Yuzaburo Mogi http://www.economist.com/people/displaystory.cfm?story_id=13443693

Yuzaburo Mogi is the CEO of Kikkoman. He raise Kikkoman as a most renowned global brand of soy sauce. The company started marketing activity in the US 1950s, and now Kikkoman took root in the country. The name "Kikkoman" is also known over the world as a maker of "all-purpose seasoning" soy sauce. Mr. Mogi didn't sell soy sauce as a Japanese seasoning, but made catchphrase "all-purpose seasoning". The company didn't try to popularize Japanese food, but made local food recipes which use soy sauce. It proved soy sauce is truly used for all purpose.

Their marketing activity is not showy, but it's well strategic. I found a Japanese book about Kikkoman. The title means that "Global managiment of Kikkoman".

Par. 1. Introduction. Yuzaburo Mogi and his colleagues gave away slices of beef marinated in soy sauce at the International Trade Fair in Chicago in 1959, to see how American consumers respond to their product. Par. 2. Kikkoman, the recognisable brand for soy sauce. Mr. Mogi and his company made an effort to penetrate non-Japanese market. The company is now the largest maker of naturally brewed soy sauce. Par. 3. An usual Japanese company, Kikkoman. The family-owned Japanese firm doesn't keep away from mergers and acquisitions, while other Japanese firms comparatively avoid to do it. Besides, the company started to accept presidents who came from outside of the founding families since 2004. Par. 4. Not only soy sauce, not only in Japan. Kikkoman is the biggest Asian food wholesaler in America, and the company operates in a similar way in Europe, China, and Australia as well. In Asia, the firm sells canned fruit and vegetables under the Del Monte brand. Par. 5. The recession and Kikkoman. The recession has hit Kikkoman's profits, but the company is well protected on a cashflow basis. On the other hand, the strong yen damage the company's revenue of which 30% gained from foreign market. Par. 6. Kikkoman and America: the company's biggest market. In the 1950s, the company moved into America, and made the template for their foreign expansion. The company did witty marketing activities, and enlighten Americans about soy sauce not as a Japanese product but as an "all-purpose seasoning". Par. 7. What Kikkoman is doing these days and will do near future. "Mr. Mogi's early recognition of the importance of adapting the product for foreign markets is Kikkoman's real special sauce."