JAPAN: Kikkoman posts significant drop in FY profit

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

For the year ended 31 March, net profit dropped to JPY2.75bn (US$) from JPY11.45bn in the previous year.

Revenue however, remained flat at JPY412bn, only a slight drop from the JPY413bn reported in 2008.

Operating profit also remained flat with the figure dropping slightly to JPY20.37bn from JPY23.85bn in the previous year.

For the year to March 2010, the company has forecast a significant drop in sales to JPY282bn, a drop in operating profit to JPY18.80bn and an increase in net profit to JPY9bn.