Kikkoman Shares Slump on Disappointing Fourth-Quarter Results, Lack of Guidance

By Kosaku Narioka

Kikkoman Corp. shares fell sharply Wednesday after the Japanese food maker posted disappointing fourth-quarter results and failed to give fiscal-year guidance, citing uncertainty caused by the recent rise in commodity prices.

Shares were recently 13% lower at 7,380 yen after falling as much as 16% earlier.

Kikkoman said Wednesday that its net profit rose 25% to Y38.90 billion ($305.8 million) for the fiscal year ended March. Fourth-quarter net profit was Y5.55 billion, given Y33.35 billion net profit for the previous nine-month period, according to a Wall Street Journal calculation.

The fourth-quarter net profit missed the Y5.85 billion estimate of analysts polled by FactSet.

Kikkoman said it is difficult to project fiscal-year earnings due to various uncertainties such as gains in prices of crude and raw materials in recent weeks and volatile foreign-exchange rates.

Japanese companies generally give earnings projections for a new fiscal year as they report the results of the previous fiscal year, which Kikkoman did in April last year.

Write to Kosaku Narioka at [e-mail]

(END) Dow Jones Newswires

04-27-22 0212ET