By  on April 9, 2012

TOKYO — Onward Holdings said Friday that its net profit for the year ended February 29 grew 29.6 percent compared with the previous year, despite difficult circumstances brought on by factors such as last year's earthquake and tsunami, the continuing strong yen and the European financial crisis. The company's net totaled 3.53 billion yen, or $44.75 million at average exchange rates for the period.

Operating profit for the twelve months rose 22.7 percent to 10.95 billion yen, or $138.88 million. The company said that in order to counter the effects of the earthquake and achieve its own forecasts, it undertook measures such as strengthening its sales and more efficient cost management.

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