Nisshin quarterly net income up sharply

by World Grain Staff
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TOKYO, JAPAN — Net income of Nisshin Seifun Group in the first quarter ended June 30 totaled ¥4.63 billion ($37.5 million), up 43% from ¥3.231 billion in the first quarter of fiscal 2015.

Nisshin, which owns Miller Milling Co. in the U.S., had revenues in the first quarter of ¥139.61 billion ($1.131 billion), up 15% from ¥120.975 billion. Operating profit at Nisshin was ¥5.003 billion ($40.4 million), up 26% from ¥3.98 billion in fiscal 2015.

For the full year, Nisshin has a net income forecast of ¥16.1 billion.

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