An increase in soy sauce and soy milk beverages sales, together with a rise in sales of its food division, have contributed to a lift in half-year profits for Kikkoman.
For the six months to 30 September, Kikkoman reported a net profit of JPY10.5bn (US$86.1m) versus JPY7.8bn. Soy sauce saw sales growth in some key international markets including North America, Europe and in Asia and Oceania. Net sales for Overseas Foods-Manufacturing and Sales segment increased 22% year on year, to JPY42.5bn.
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Group operating income increased to JPY16.9bn from JPY12.3bn. Net sales rose to JPY202.8bn compared with JPY178.8bn.
Kikkoman raised its sales and profit forecast for the full year. The firm expects sales to come in at JPY405bn from a previous forecast of JPY400bn. It expects operating income to rise to JPY31.2bn from a previous forecast JPY28bn. EPS is expected to come in at JPY97.79 per share, up from previous guidance of JPY87.03 per share.
