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Japan-Update

Maruha Nichiro likely hauled in record first-half profit

Japanese seafood company rides high prices, strong frozen-food sales

Japan's Maruha Nichiro fishes up skipjack tuna in the southern Pacific Ocean.

TOKYO -- Seafood purveyor Maruha Nichiro is expected to report a nearly 10% rise in April-September pretax profit as rising fish prices fattened margins and overseas businesses improved efficiency.

The profit is estimated at about 15 billion yen ($133 million), a record for the period. The Tokyo-based company has not released a forecast for the first half, but the figure appears to have slightly surpassed internal plans.

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