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Nichi-Iko Suffers After Plant Closure

Emphasizes Five-Point Quality Control Plan As Profit Plummets

 
• By Dave Wallace

Japan’s Nichi-Iko has reported operating profit that has plummeted by more than 95% in its latest financial year, as the firm suffered a forced shutdown of once of its Japanese plants and also recognized a substantial impairment linked to its US Sagent business.

Japan Flag Graph Figures Downward Trend Numbers
Japan’s Nichi-Iko has seen its profits nosedive this year • Source: Alamy

Japan’s Nichi-Iko reported operating profit of just ¥107m ($0.98m) for its entire financial year ended 31 March 2021, after a host of factors combined to drag down the figure by 96.3% compared to the previous year.

The heavily reduced annual operating profit – which came despite sales staying relatively stable, sliding by just 1% to ¥188

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