Marudai Food Co (TYO:2288) has lowered its forecast for profit attributable to owners of the parent for the six months ended Sept. 30 to 1.50 billion yen from 3.20 billion yen, according to a Monday filing with the Tokyo Stock Exchange.
The company also revised down its basic EPS forecast to 62.43 yen from 133.16 yen and net sales estimate to 121.7 billion yen from 123 billion yen.
The revision was due to lower-than-expected sales of processed foods, a slight rise in costs and slower-than-expected progress in price revisions.
Shares of the company fell nearly 4% in recent trade.
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