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Kyokuyo's Seafood Business Reverses Loss to Immense Profit

November 10, 2008

Kyokuyo, as an individual entity, announced its seafood business' second quarter figures; an operating profit loss of \45 million in the same quarter of the previous year was dramatically reversed to operation earnings of \1.045 billion.

The firm and steady flow of market prices contributed to domestic sales growth of chum salmon and such Northern Pacific fish as atka mackerel. Under a strict direction by President Kiyokazu Fukui on procurement, the thorough execution of the company's policy to "purchase appropriate amounts at adequate times" helped prevent disposal losses, whereas salmon, trout, and shrimp were disposed in the first half of last year.

The transaction quantity of the first half year was 60,846 tons, recording an increase of 8,356 tons, compared with the last year's same period. Declines in the transaction quantities of expensive unit price items, crab and fish roe, led to a \50 fall in the average unit price; however, the total sales yield marked an increase of \2.436 billion to \36.7 billion.

Transaction quantities of salmon, trout, Northern Pacific fish, shrimp, horse mackerel, mackerel, and sardine grew; however, crab and fish roe dropped. The unit prices of following fish exhibited increases: austral fish, crab, horse mackerel, mackerel, sardine, and fish roe; in contrast, salmon, trout, Northern Pacific fish, and shrimp declined. Except for shrimp and crab, the company raised the transaction amount of each fish item.

The original articles was published on November 10, 2008 and was translated by Kiyo Hayasaka.

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