Nagase Brothers Half-Year Profit Drops 44 Percent

Despite the bottom-line contraction, the company managed to grow its top-line revenue. Sales for the period rose to 31.58 billion yen, compared with 30.46 billion yen a year earlier. However, rising costs weighed heavily on profitability, with operating profit slipping to 1.92 billion yen from 2.28 billion yen. Pretax profit followed a similar downward trajectory, settling at 1.81 billion yen against 2.24 billion yen in the prior year. These results were calculated using Japanese accounting standards.