Nisshin Seifun income up in first half of the year

by Susan Reidy
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The company has a flour milling segment that manufactures and sells wheat flour, bran and bakery mixes. 
 
TOKYO, JAPAN — Nisshin Seifun Group reported on Oct. 27 a net income of ¥10.14 billion ($96.3 million) for the first half of the year ended Sept. 30, up 21.6% from ¥8.34 billion in the same period of last year.

Revenue for the half was ¥271.259 billion, down 1.9% from ¥276.410 billion in the same period of last year.

Nisshin’s full-year forecast for net income is ¥19.2 billion. The company’s net income in 2015 was ¥17.561 billion.

The company has a flour milling segment that manufactures and sells wheat flour, bran and bakery mixes. Nisshin Flour Milling Inc. has flour mills in Canada, Thailand, the U.S. and New Zealand.

In 2012, Nisshin acquired Miller Milling, a U.S.-based flour milling company and in 2015 announced plans to add a second milling line and expand wheat and flour storage at its Rogers Foods Ltd. flour mill in Chilliwack, British Colombia, Canada.

Miller Milling recently announced expansion of its Saginaw, Texas, U.S., flour mill to 24,000 cwts, making it the company’s second largest flour mill. The expansion of the Saginaw mill will raise aggregate daily milling capacity of Miller Milling to 104,600 cwts.
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