Japan Eyes Doubling Food Industry’s Overseas Profits; Govt Likely to Aim for ¥3 Trillion Level by 2030

The Yomiuri Shimbun

21:00 JST, March 12, 2025

The government plans to include in its Basic Plan for Food, Agriculture and Rural Areas a goal to double the profits earned by Japanese restaurant chains and food manufacturers operating overseas from the current level to ¥3 trillion by 2030.

The government also aims to boost the amount of money spent by foreign visitors on food, drink and related items to ¥4.5 trillion, or three times the current level.

The basic plan is expected to be approved by the Cabinet soon.

This will be the first time for the government to set specific numerical targets for either of these figures. By increasing the number of people around the world who like Japanese food, the government hopes to further tap demand for the food overseas to help revitalize Japan’s agriculture, forestry and fisheries industries.

In 2022, the profits earned by the Japanese food industry, including restaurant chains, through their overseas operations was ¥1.55 trillion. This figure is the combined total of income from outward direct investment, which includes dividends from overseas subsidiaries, and fees for intellectual property rights such as payments from overseas franchisees.

The overseas profits increased by 2.7 times in five years thanks to the popularity of Japanese food such as sushi and Japanese curry.

Spending by foreign visitors on food, drink and related items surged 3.8-fold over 10 years to ¥1.59 trillion in 2023.

The government will also propose in the basic plan support measures across government ministries and agencies to achieve the targets, such as providing loans to corporate bases overseas and information on local legal and tax affairs.