JAPAN: Meiji Seika lowers full-year profit outlook
Japanese food firm Meiji Seika has lowered its group net profit outlook for the year to March 2004 to ¥1bn (US$9.0m) from ¥4bn. The company said the revision was made because of a ¥3.6bn special loss related to its early-retirement scheme, reported Dow Jones News. Meiji Seika did not, however, revise its sales outlook, leaving it unchanged at ¥370bn. The company said sales promotion had helped improve the performance of its three main businesses, food, pharmaceuticals and health care.
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