JAPAN: Kikkoman lowers profit forecast

Japanese soy sauce producer Kikkoman Group has forecast a significant drop in net profit for its 2008/2009 fiscal year.

For the 12 months to 31 March, net profit is forecast to drop to JPY2.2bn (US$22.3m) from JPY8.8bn in the previous year.

Revenue, however, is expected to remain flat at JPY405bn, the same figure as in 2007.

Kikkoman also expects operating profit to remain flat at JPY19bn, and pre-tax profit at JPY16.5bln, the same figure as the previous year, local reports said yesterday (25 March).