[Alpha Biz= Reporter Kim Jisun] Recently, Pulmuone aggressively expanded its production lines in California, USA, and Japan. Initially, there were plans to invest hundreds of billions of won to expand the IRE Tofu Factory located in the eastern United States, but it has been confirmed that this expansion has been postponed until next year.
Despite the rapid increase in local demand, with US tofu sales reaching their highest level in the first quarter of this year, Pulmuone has decided to delay the expansion.
It seems that Pulmuone's strategy is to focus on profitability rather than investment, aiming to achieve a turnaround in overseas operations, which have been considered a weak point.
Pulmuone's US subsidiary, which accounts for 65% of its overseas sales, has accumulated a net loss of 265.7 billion won since 2013.
The financial burden on Pulmuone has increased due to its strategy focused on external growth.
As of the end of last year, Pulmuone's total debt increased to around 1 trillion won, and its debt ratio soared to the 300% range.
AlphaBIZ Kim Jisun(stockmk2020@alphabiz.co.kr)
