Kyokuyo struggles in the first half
November 16, 2007
Kyokuyo said Friday its consolidated sales for the April-September
first half dropped 4.8 percent from a year earlier to \74.5
billion due to less transaction volumes of products.
Japan`s third largest seafood company reported its operating
profit fell 17.6 percent to \1.1 billion and net earnings
slipped 51.1% to \591 million.
"Transaction volume of almost all kinds of species decreased
compared to the previous period. Main profit drivers, shrimp
and salmon, were greatly affected by the fluctuations in the
market and incurred disposal loss", said the company.
The company`s processing department has endured higher costs
of raw materials and oil, but never able to hike prices.
But the seafood giant said the sales of frozen seafood, including
sushi items rose, on the grounds that its joint-venture company
in Thailand, K&U Enterprise established a new factory
Maruha Nichiro`s first half fell in income and profit
November 14, 2007
Maruha Nichiro Holding`s consolidated first half sales dipped
0.4 % from a year earlier to \363.5 billion, while business
profit dropped 20.6% to \5 billion. Bottom line profits fell
30.9%, or \363 million to \812 million.
World`s largest seafood company`s slump is attributed mainly
to higher costs of oil and raw materials, along with depreciation
"Business environment has been tough under surging seafood
demand worldwide, along with higher prices of fuel and raw
materials. Prices of seafood increased under weakening yen
exchange rate", reported the company.
Seafood segment edged up 0.2% from the previous year to \272.5
billion, while operating earnings dropped 18% to \3.5 billion.
"Domestic farming business remained steady. But high
operational costs in the Northern America, flagging pollock
roe market in Japan, as well as slumping shrimp and salmon
market trimmed profit margin", the company added.
Nissui decides dissolution of a logistics
November 14, 2007
Nissui`s board members decided dissolution of its logistics
subsidiary, Nissui Service on Tuesday. The company will disintegrate
at the end of March in 2008.
The distribution company`s third party logistics division
will be integrated into Nissui`s wholly-owned subsidiary Nissui
Logistics, while its storage and shipping department is transferred
to the seafood company`s solely owned Carry Net.
Nissui Service`s annual sales ending March 2007 were \8.8
Nissui`s first half net profit plummeted
November 14, 2007
Nissui`s consolidated business performance in the first half
marked a sizable drop from the previous year due to high prices
of fuel and raw materials.
Seafood sales increased \4.6 billion from the previous year
to \115.1 billion, mainly attributable to the acquisition
of F.W. Bryce. But business profit decreased \537 million
to \1.7 billion due to less sales volumes of surimi, shrimp
and Chinese eel domestically. Chile`s earthquake aftermath
and virus issues, Asia`s delayed reformation of shrimp farming
and processing business are impediments of the company`s growth.
Nissui`s consolidated first half sales fell 4.7% from the
previous year to \267.7 billion. Current earnings dropped
28.2% from a year earlier to \5.8 billion, while net earnings
plunged 63.8% to \1.3 billion.
The company`s non-consolidated first half seafood sales grew
\47 million from the previous year to \46.8 billion. Unit
price edged up by one percent to \770 per kilogram.
Surimi marked a big fall, 5,000 tons less from a year earlier.
Unit price also fell and as a result, sales amount shrank
\1.6 billion, while salmon`s sales increased \954 million
because of increased unit price and transaction volume. Frozen
tuna`s sales were down \350 million to 4 billion as a result
of unit price`s fall, although the transaction volume increased
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