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Nissui incurs extraordinary loss on withdrawal from Brazilian business

Netuno products. (Photo Credit: Netuno)

(JAPAN, 3/27/2013)

Nippon Suisan Kaisha (Nissui) has announced that because the earnings of Brazil-based Netuno International SA, an affiliate of Nissui’s subsidiary in Chile Nippon Suisan America Latina SA, are no longer expected to improve soon, Nissui will withdraw from the Netuno business and declare a loss on the liquidation of the business in the amount of JPY 8 billion (USD 84 million).

Consequently, the company has revised its consolidated financial forecasts for the fiscal year ending on 31 March 2013. Its new figures show a loss of JP... (More Info)

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