JAPAN: Morinaga pre-tax profits plunge
Japanese confectioner Morinaga reported a 63.6% drop in profits for the fiscal year ended 31 March as sales stagnated. The group said pre-tax profits in the year plunged to ¥3.39bn (US$27.3m) as overall sales tumbled 12.7% to ¥174.63bn. Sluggish sales of the group's core confectionery products were exacerbated by the depreciation of the yen against other currencies, which hiked the expense of imported raw materials.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-food gives you the widest food market coverage.
Paid just-food members have unlimited access to all our exclusive content - including 17 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Dean Best, editor of just-food
- Analysis: Post discusses rationale for Weetabix
- Interview: Sir Kensington's on sale to Unilever
- Who will buy Danone's Stonyfield business?
- Column: Why snacking is the new meal
- Interview: "Disruptive" snack brand Hippeas
- Unilever buys US condiments maker Sir Kensington's
- Ice cream helps Unilever sales, food flat
- Nestle organic growth slows but beats expectations
- Suntory to offload Australia, New Zealand foods
- ABF buys UK sports nutrition firms H5, Reflex