JAPAN: Nippon still suffering after mislabelling scandal
Despite a predicted profit of ¥19bn (US$154m), Japanese company Nippon Meat Packers now expects a ¥1bn group net loss for the year ending March due to a down turn in sales caused by the recent mislabelling scandal. The turnaround is thought to be caused by the discovery earlier this year that Nippon Meat had obtained government subsidies by relabelling imported beef as Japanese meat. The government had initiated a buyback scheme to try to prevent meat infected with BSE from reaching consumers.
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