Nisshin Seifun Q1 net profit rises despite operating decline

Nisshin Seifun Group reported net sales up 0.7% to 215.36 billion yen in Q1, while operating profit fell 14.6% to 11.29 billion yen and ordinary profit dropped 10.9% to 12.93 billion yen.

However, profit attributable to owners rose 7.1% to 11.62 billion yen, boosted by gains from selling investment securities as part of strategic cross-shareholding reductions.

The company maintained its full-year forecast of 870 billion yen net sales, 50 billion yen operating profit, and 53 billion yen ordinary profit.