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Ichimasa kamaboko: Higher Surimi Prices Cause Profit Loss

August 18, 2008

Ichimasa Kamaboko Co. Ltd. released its consolidated financial results for the period of July 2007 thru June 2008. Total sales slightly dropped to 27.7 billion yen with a one percent decline; operating loss was 79 million yen (a profit of 561 million yen at the same time last year); ordinary loss amounted to 241 million yen (a profit of 420 million yen at the same period last year); and net deficit for this period totaled 762 million yen, as contrasted with a loss of 168 million yen in the previous year.

Ichimasa Kamaboko, as an individual enterprise, reported its total sales of 27.2 billion yen with just a one percent drop; operating loss totaled 202 million yen (a profit gain of 334 million yen last year); ordinary loss amounted to 318 million yen (a profit margin of 256 million yen); net loss of this period was 770 million yen (a loss of 387 million yen a before); and a dividend remained at 5.50 yen.

The forecast of consolidated performance for this fiscal year is 29.6 billion yen in total sales; operating yield of 960 million yen; ordinary profit of 800 million yen; and net proceeds of 640 million yen. Ichimasa Kamaboko itself is planning to achieve total sales of 29 billion yen; operating profit of 760 million yen; ordinary profit of 630 million yen; and net yield of 500 million yen.

Price Revision May Secure Profit in This Term

Regarding the business term ending June, the company says, “In the division of fish paste products, naruto, hanpen, and kanikama products exhibited a steady growth in sales. Despite a sales increase in mushroom products, prepared food products slid down by 1.9 percent in sales. Rising costs of main materials, such as surimi in particular, abnormal climate changes during the third quarter, as well as low prices of Private Brands created difficult business environment.” The company mentioned this fiscal term by saying; “We will conduct price revisions, hoping to improve business performance.”

Original article published on August 18, 2008; translated by Kiyo Hayasaka

JF Group and AEON Collaborate

August 18, 2008

Shimane Federation of Fisheries Cooperative Association, led by Chairman Hiroshi Kishi, agreed to commence direct business transactions with AEON. With the help of JF Federation of Fisheries Cooperative Associations, an agreement to distribute fresh fish to all AEON chain stores was reached. This unprecedented business attempt for fisheries groups and merchandisers to collaboratively transact fresh fish business and its future performance are highly anticipated.

With deteriorating demand for fresh fish and skyrocketing fuel prices impeding further advancement of the fisheries industry and related industries, JF Group, aiming to expand local fish distributions, and AEON, wishing to increase the client base by providing safe, fresh fish, found the common ground. The first distribution would be launched on August 17, 2008, at the seafood section under direct management of JUSCO in Osaka, Kyoto, Shimane, Tottori prefectures.

While the exact harvest volume being uncertain, an estimated amount will be 2 to 3 tons of yellow tail, amberjack, and barracuda caught in fixed netting, shipped from Kaka, Tako, Shiotsu, and Uppurui harbors in Shimane Prefecture. “Depending on catches, we may expand fresh fish distributions to Kinki and Sanyo regions,” said JF Shimane.

This novel business deal was made when JF Federation of Fisheries Cooperative Associations visited the AEON headquarters to explain the purpose of fishermen’s strike held nationwide on July 15, 2008. AEON expressed its eagerness by saying; “We would like to support fishermen’s effort by stimulating demand for marine products.”

Original article published on August 18, 2008; translated by Kiyo Hayasaka

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