Japanese
giants Nippon Paper Group (NPG) and Oji Paper have released their results for
the first quarter of the current financial year there, which started at the
beginning of April.
Nippon's
net income for the April to June period reached ¥399 million ($5 million), a
decline of 75% from the ¥1.6 billion yen profit turned in the same period last
year.
Oji
also suffered though, seeing its profits slide from ¥8.137 billion in the first
quarter of last year to ¥6.789 billion this year.
While
NPG's overall profits showed a marked drop, its sales were slightly up from the
April-June period last year, climbing half a percent to ¥251 billion.
But
Oji marked a small decline by the sales measure, with Q1 sales this year down
almost a percentage point to ¥304 billion.
