Tokyo-based Nippon Suisan Kaisha (Nissui) on Tuesday reported a 50 percent fall in net profit in the year up through its fiscal third quarter, to JPY2.2 billion ($24 million/€17.9 million), on flat sales of JPY422.6 billion ($4.5 billion/€3.4 billion).
Several of the company’s most important divisions underperformed, and have sparked the establishment of an “emergency task force” to turnaround operations and reinstate shareholder dividends, a project that is already resulting in the sale of some of the company's myriad assets.
The company’s aquaculture business – anchored by its Chilean salmon operations Salmones Antartica – was badly affected.
