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Beleaguered surimi manufactures fall back on policymakers

March 21, 2008

Chairman of Zenkama, National Kamaboko Association, Mikiho Kotani submitted a memorandum to director general of Japan fisheries Agency Wednesday, raising their voice that shortage and high-priced raw materials are spelling doom to surimi producers.


Rising fuel costs, high priced fish chiefly due to the Alaska pollock quota cut are pressing manufactures management.


FA grade surimi raw material has not only gone up to \600 per kilogram from \470 in December 2007, but also has been deficient in quantity.


In the petition titled “A demanding paper for building stabilized supply of kamaboko raw material fish”, the association is demanding Fisheries Agency to tackle with assurance of raw material supply, directing large-scaled importers to stabilize prices, and developing an understanding among consumers and retailers that price hike is unavoidable.


Meanwhile, resource department director at Zenkama, Hiroshi Kon visited the prime minister`s office and requested Chief Cabinet Secretary Nobutaka Machimura to set up Surimi Raw Material Task Force in the Liberal Democratic Party and demanded tariff cuts on pollock.

Nissui makes downward revision

March 21, 2008

Japan`s seafood giant, Nissui, made a downward revision on Friday posed by extraordinary loss and a downturn in performance.


The seafood firm`s annual sales ending in March were lowered to \531 from original forecast of \535 billion, while operating profits were down 57.7 percent from the previous year to \7 billion. Although down \2.4 billion from the original projection, net profits increased 3.2 percent from a year earlier to \9.6 billion.


Nissui posted extraordinary gain of \27 billion from sale of its old frozen factory site, while it also declared extraordinary loss of \12.8 billion, including impairment of \6.7 billion from goodwill it posted when acquiring King and Prince.


The company reported drops in sales of surimi and shrimp at home due to high-priced raw materials and sluggish Chinese eel sales from the food scare. It also blamed downward revision for lagging restructure of shrimp operation in Indonesia and falls in profit in salmon business in Chile.

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