TOKYO, JAPAN — Nisshin Seifun Group reported on July 26 a net income of ¥5.25 billion ($47 million) for the first quarter ended June 30, up 13.4% from ¥4.63 billion in the same period of last year. 

Revenue for the first quarter was ¥135.923 billion, down 2.6% from ¥139.61 billion in the same period of last year. 

Nisshin’s full-year forecast for net income is ¥18.7 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.