Japanese Dairy Thriving
Japan's three major dairy producers reported record group pretax profits for fiscal 2004 as they reaped the benefits of streamlining their businesses and revamping their product lines.
Meiji Dairies Corp. booked a 21% group pretax profit gain to $177.58 million (US), while sales grew only slightly to 725 billion yen.
Morinaga Milk Industry Co. saw group pretax profit rise 4%.
Snow Brand Milk Products Co. doubled group pretax profit to 6.6 billion yen thanks to the robust performance of its equity method affiliate in the frozen food business.
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