Japanese Nisshin Petfood reports sales decline in fiscal 2011
Company looks to expand premium petfood line, following poor cat product sales
The Japanese Nisshin Seifun Group reported its consolidated financial results for the first six months of the fiscal year, ending March 2011.
The company reported a 7.8% decrease in net sales over the same period in fiscal 2010, to Â¥ 209.16 billion (US$2.54 billion). Sales by Nisshin Siefun's petfood business, Nisshin Petfood Inc., also decreased from the same period in the previous year, which the company attributed to the continuing harsh market environment and the poor performance of cat food products. The company said it will continue to expand its premium petfood business with a focus on safety, reliability and health, by leveraging its advantages as a domestic manufacturer.