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Kyokuyo celebrates 70th anniversary, CEO says "More global business for the future"

September 10, 2007

Kyokuyo held a banquet on the 7th of September to celebrate its 70th anniversary. Many prominent figures from the industry gathered, such as Masatoshi Itoh, honorary chairman of Seven & I Holdings.

"Seafood industry in the 21st century has witnessed structural changes, such as growing trend of seafood world-wide, the rise of China as world processing plant. If you look at the domestic market, you face adverse elements with less consumption of fish with low birthrate and high longevity, while Japanese food, such as Tempura and sushi are getting more popularity overseas. Seafood demand is surely growing by leaps and bounds. We will enforce more businesses globally, along with strong stress on ingenuity, such as the development of promotions of higher values. And that`s our future" stated Kiyokazu Fukui, CEO of Kyokuyo, before giving a toast.

Hagoromo Foods raises canned tuna products up to 13%

September 10, 2007

Hagoromo Foods will increase selling prices of canned Tuna items 8.6-13% in response to the increased costs of main ingredients, Yellowfin Tuna and fish oil. Price increases will start in October.

"We have come to a point where our bottom line has been crossed and we cannot absorb any other unforeseen costs. Ultimately we have arrived at the conclusion that this price increase was unavoidable in our minds", stated the company.

The announcement was made right after Japan`s major canner jacked prices of its canned tuna made out of Bonito in August. This series of price raises indicate how business is squeezed by high raw materials costs.

Hagoromo`s first quarter sales ending in March were \21.1 billion. Sales volume of Tuna products were down 5.9% compared with the previous year to \9.2 billion.

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Kibun Foods New plant launched full-scale production

September 7, 2007

Construction of Kibun Foods` new plant in Soja, Okayama-Pref is finally complete and has started full-scale production. With the completion of the facility, the company aims to enhance supply system, covering the western parts of Japan.

Japan`s largest Surimi maker invested \5.5 billion in the 17,838-meter-square workshop in an area of 89,530 square meters. 20 production lines allow the company to produce 90 million packs of food items annually, including surimi, ready-meal items and dim sum. They will close down its two plants in Osaka and Saga.

"One of the great features of the new plant is we have abundant clean underground water, as well as state-of-the-art equipments. As our production base to the western part of Japan, we are situated in a perfect location where access to freeway is easy, which makes distribution a lot quicker" said the plant manager, Kazuo Nakanishi.

This is the third plant the company has built in 12 years, after Hokkaido and Tokyo, which can also make 90 million packs per year.

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