TOKYO -- Sakata Seed's consolidated operating profit likely soared 20% on the year to 6 billion yen ($52.5 million) in the first half ended in November, higher than forecast as a hearty appetite for vegetable seeds abroad overcame strength in the yen.
The Japanese seed seller was predicted to report a 22% drop in operating profit to 3.8 billion yen. Sales are seen up 2% to slightly over 28 billion yen, surpassing estimates by 3 billion yen. The overseas wholesale segment apparently continued to comprise much of the company's sales at nearly 60%.
