Japanese soy sauce maker Kikkoman Corp. is targeting a 16% rise in annual profits after today (26 April) booking a trebling in full-year earnings for fiscal 2009/2010.

Kikkoman posted a net profit of JPY8.6bn (US$91.4m) for the 12 months to the end of March - up sharply from JPY2.75bn a year earlier.

The rise in earnings came despite tumbling sales. Revenues for the year to the end of March 2010 stood at JPY285.69bn, against JPY412.65bn.

For the year ended March 2011, Kikkoman has forecast net income to rise again, to JPY10bn. The company sees sales climbing to JPY292bn.