JAPAN: Impact of earthquake hits Ajinomoto's Q1 results
Japanese food maker Ajinomoto has posted a fall in first-quarter sales and operating profit as the after-effects of the country's earthquake in March hit parts of the business.
Ajinomoto's net sales slid 2.6% to JPY296.3bn (US$3.84bn) for the three months to the end of June amid a drop in sales across the business.
The company posted a 0.7% dip in operating income to JPY21.7bn as the impact of foreign exchange and an increase in raw-material costs weighed on profits from its overseas food operations.
Ajinomoto saw its net income more than double to JPY13.9bn. Last year's first quarter, was hit by higher losses on investment securities.
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