Net profit increased by 13 percent at Globeride to ¥1,068 million (€10.4m-$13.6m) for the first quarter ended June 30 on 9 percent higher sales of ¥15.9 billion (€154.4m-$202.6m). Profits are expected to be down by 52 percent for the full year as sales growth should soften to 3.0 percent.

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