Sato Foods' Quarterly Profit Falls 90%, and It Finally Names a Full-Year Number
Sato Foods' quarterly profit fell 90.5% as cheaper loose rice made its packaged rice look pricey and a year-ago one-off gain flattered the comparison, but the company has finally issued a full-year forecast pointing to a 26.4% profit decline after previously saying rice-price volatility made guidance too unreliable to publish.