Pigeon Corp. (TSE:7956) manufactures baby bottles and has over 80% of the market share in Japan. The company is aggressively taking its strong brand to overseas markets. The overseas business now contributes 74% of earnings, up from 49% four years ago. Sales to international markets have grown at an annualized 22% over the past four years. Pigeon is now leveraging its brand to expand its product line into diapers for the Chinese market.
From Wasatch International Growth (Trades, Portfolio) Fund’s Q1 2015 Commentary.
