Nichimo 1Q Cites Operating Profit in Red
August 13, 2013
Nichimo Co, Ltd., Tokyo-based company under the management of President Yukio Koike announced its April-June result for FY March 2014: sales of 24.4 billion yen, down 2.5 percent from the same quarter a year ago; operating loss of 176 million yen, as opposed to operating profit of 268 million yen last year; ordinary loss of 168 million yen, versus ordinary earnings of 287 million yen; and net loss of 146 million yen, which was net profit of 213 million yen. Food business, marine business, and machine business all faced challenges.
In food business, crabs moved firmly, but cod roe sales declined. Unrealized profits of inventory from San Arawa S.A., a newly consolidated company, required adjustments, resulting in profits lower than last year. Marine business experienced reduced orders of aluminum ships. Fewer land nets were ordered in the US, as well. Resultantly, both turnover and proceeds failed to surpass the last year’s numbers. Machine business is expecting large-scale comprehensive assignments that will involve constructing new plants in the second part of the fiscal year.
The contracted number of orders of materials for exports led sales to hit below the previous year’s level; however, construction materials exhibited a favorable move, contributing to a profit hike. Biotics business reported the results similar to the prior year.
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