TOKYO -- Ito En's overseas operating profit is expected to grow 35% to around 2.5 billion yen ($21.2 million) in the year ending April 2017, beating its forecast as the yen's recent fall is helping lift earnings at North American and Asian subsidiaries.
Higher-than-expected sales of high-margin matcha tea bags in North America and Singapore are contributing to the rise as well. The Japanese tea maker's guidance calls for overseas operating profit to increase 12% to 2 billion yen for fiscal 2016.
