JAPAN: Major baker Yamazaki Baking Co posts group and parent net losses, promises to recover
Japan's Yamazaki Baking Co has posted net losses on both a parent and a group basis for the year ending 31 December. Compared with the group net profit of ¥8.1bn posted in 1999, consolidated net loss of ¥44.2bn and parent loss of ¥32.3bn were blamed on the costs incurred through a recall of mouldy bread during last summer, which also entailed increased cleaning costs at the production plants.
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