January 30, 2008

Japan's Nisshin Seifun posts 6 percent increase in Q3 profit

Tokyo-based Nisshin Seifun Group, a Japanese flour and food maker, posted a 6 percent increase in third-quarter profit after raising prices, Bloomberg reported January 29.

The company's operating profit rose to 5.53 billion yen ($52 million) in the three months ended December 31 from US$49 million a year earlier.

Nisshin Seifun raised pasta prices by as much as 20 percent in November on escalating wheat prices in Japan.