Profitability Weak At Mochida
Mochida of Japan saw profits decline in the fiscal year ended March 1996. Operating profits were 8.9 billion yen ($81.4 million), down 9.1%. Recurring profits for the year declined 11.9% to 89 billion yen and net profits fell 4.9% to 3.9 billion yen. Earnings per share were 27.3 yen, compared with 34 yen a year earlier.
The firm's R&D and sales expenses are said to be burdening profits despite lower than average government-imposed drug price cuts.
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