By  on April 5, 2013

TOKYO — Onward Holdings said Friday that its net profit for the year ended Feb. 28 jumped 27.6 percent, due largely to a benefit it received by reorganizing its tax structure.

The company’s net totaled 4.50 billion yen, or $55.12 million at average exchange rates for the period. This is up from 3.53 billion yen, or $44.75 million, for the previous fiscal year.

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