2229 Calbee
- Sep 22, 2025
- 1 min read
Japan's largest snack food manufacturer. Boasting one of the highest operating profit margins in the domestic food industry. Founded in Hiroshima in 1949. Has many long-selling products such as "Potato Chips," "Kappa Ebisen," and "Jagarenko." Most of the ingredients for potato chips are produced in Hokkaido, but some are imported from the United States.
In 2009, the company entered into a capital and business alliance with PepsiCo of the United States and developed the "Frito-Lay" brand. It is currently developing "Frugra" (granola cereal) as a main source of revenue and is also involved in e-commerce for China. It operates overseas in the United States, China, the UK, Indonesia, and other countries.

Oasis reports 5.98% ownership as of Sept 9
at 3017 yen/share, 404 bil yen mkt cap vs 22 bil yen net cash
18.4x per / 1.87x pbr / 1.99% yield