JAPAN: Nippon Meat Packers forecasts full-year profit

Beleaguered Japanese meat processor Nippon Meat Packers has said it now expects a group net profit of ¥4.4bn (US$121.4m) for the fiscal year to March, compared with a previous forecast for a loss of ¥1bn. The revision was made possible by a fall in the company’s marketing costs after it halted active marketing operations in the wake of a beef mislabelling scandal last summer, reported Jiji Press.

The revision was made possible by a fall in the company’s marketing costs after it halted active marketing operations in the wake of a beef mislabelling scandal last summer, reported Jiji Press.

Nippon Meat Packers also forecast consolidated sales for the year of ¥910bn, compared to a previous forecast of ¥900bn.