Morinaga Milk Q1 operating profit rises 4.3% to 8.8bn yen

Morinaga Milk Industry reported Q1 operating profit of 8.8 billion yen, up 4.3% year-on-year, with net sales rising 2.2% to 143.7 billion yen.

Global Business was the key driver, delivering a 2.0 billion yen year-on-year increase in operating profit, led by solid performance from MILEI. Domestic market faced challenges from soaring food prices and volume declines, though strong ice cream sales helped offset impacts.

The company maintained its full-year operating profit target of 32.0 billion yen.