Japanese soy sauce maker Kikkoman Corp. has booked an increase in full-year profits and announced a share repurchase of up to JPY5bn (US$62.6m).
For the 12 months to the end of March, net profits climbed 15.6% to JPY8.98bn. Operating profit, however, slid 7.5% to JPY17.76bn, while sales remained flat at JPY283.2bn.
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The company’s domestic food manufacturing unit recorded a drop in sales of 1.7% and an operating profit decline of 36.4%.
In the firm’s international food division, however, operating profits edged up 2.3%, while sales remained flat.
Kikkoman has forecast a fiscal 2013 net profit increase of 11% to JPY10bn and a sales increase of 2.7% to JPY291.
In addition, the company said it will spend as much as JPY5bn to buy back up to 2.9% of its outstanding shares.
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By GlobalDataClick here to view the full earnings release.
