Business

How A Caramel Created A $2 Billion Business

rmkane, CC BY-SA 4.0 <https://creativecommons.org/licenses/by-sa/4.0>, via Wikimedia Commons

The sweet bliss of a caramel melting on the tongue.

That was the moment of conception for the Morinaga & Co., the Hershey’s of Japan (~$2B in 2020 revenues). On a day when founder Taichiro Morinaga was struggling to make ends meet and feeling blue, someone gave him a caramel. California was racist and inhospitable to Asian immigrants in the late…