Nissui reports revenue and income increase for Q3 2013
Nissui products. (Photo Credit: Nissui)
Nippon Suisan Kaisha Ltd. (Nissui) reported an increase in revenues and profits in the Q3 of its fiscal year 2013 (October-December 2013), compared with the same period last year.
The latest financial report indicates that the Japanese giant consolidated net sales grew 6.3 per cent, to JPY 448,695 million (USD 4,383 million), and net income by 160 per cent, to JPY 5,849 million (USD 57.1 million).
Nissui attributes this growth primarily to the recovery of the Japanese market, the reduction of inventories (non-consolidated), the restructuring of enterprises abroad and better trade balance in salmon and trout thanks to higher prices.
Regarding food products business, the company highlights that in Japan, the yen weakness was offset by improving productivity, reducing expenses and revising selling pr...