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Nippon Suisan Restructures Organization to Reinforce Seafood Business

January 28, 2010

Nippon Suisan is slated to conduct organizational restructuring with the focus on reinforcing its fisheries business as of March 1. More concretely, in order to strengthen gsales power from customerfs point of view,h separation of marketing and procurement functions will be executed and marketing will be altered to customer relations from its previous responsibility for fish. Moreover, the companyfs strengths, marine business and food business will further evolve for cooperative operations, proceeding with creations and suggestions for the food scene.

Under gFisheries Business Operating Officer,h gFisheries Business Operating Subofficer (marketing)h and gFisheries Business Operating Subofficer (procurement)h will be newly set up to support tasks of gFisheries Business Operating Officer.h Marketing functions of the gFisheries Business Dept. 1h and gFisheries Business Dept. 2h will be transferred to the new gFisheries Business Marketing Department.h The gFisheries Business Marketing Departmenth will be in charge of sales to seafood wholesalers, mass retailers, and fish stores in the Tokyo metropolitan and Kanto-Shinestu areas, Sendai, Nagoya, Hiroshima, and Fukuoka.

The procurement function will be integrated into the gFisheries Business Dept. 1 (crab, salmon, and fish roe),h gFisheries Business Dept. 2 (shrimp, frozen fish, squid, octopus, shellfish, and surimi),h and new gFisheries Business Dept. 3 (frozen southern fish).h The gFisheries Business Dept. 3h will be also responsible for seafood exports to neighboring countries in addition to the task of procurement. The gMarine Foodstuffs Business Departmenth will be also launched to further promote seafood consumption.

Seiji Takahashi, Operating Officer/Aquaculture Business Promotion Office Director, will take charge of the procurement function of the Fisheries Business Operating Subofficer. Likewise, Yuji Kobayashi, Fisheries Business Dept. 1 Director, will be in charge of marketing.

The original article was published on January@28, 2010 and was translated by Kiyo Hayasaka.

Hakata Marukitafs Business Transferred to Nissui Group

January 28, 2010

A Karashi mentaiko maker in Fukuoka City, Hakata Marukita, which is currently under court-guided rehabilitation, will be transferred to Hakata Marukita Suisan (Fukuoka City; President Nobuo Honda), a Nippon Suisanfs 100% subsidiary, as of February 1. An application for business transfer was approved at the Fukuoka district court on Jan. 20.

Hakata Marukia Suisan is slated to acquire lands and buildings of Hakata Marukitafs three plants, main plant, Chikkou Plant, and Koga Plant, as well as its operations, including a brand gHakata Ago-otoshi,h for roughly \500 million. In principle, all the employees will be accepted, as well.

Nissui Expands Cod Roe Operations

In addition, as far as cod roe operations are concerned, Nippon Suisan also decided to accept an allocation of new shares to a third party (260 shares for about \700,000) of Tokyo Kitaichi (Saitama Pref.; President Shigekazu Watanabe) and to make the company Nissuifs equity method affiliate by late February 2010. Nissui has been in a business relationship involving roe supply with Tokyo Kitaichi since 1990. The said decision was made for financing the alteration and/or extension of Tokyo Kitaichi Hokkaido Plant, scheduled to begin in April.

Nissui Group, which finds its strength in accessing a raw material of kneaded fish and fish ham sausage products, namely pollack, has been taking on the establishment of an integrated white fish business system from resources to final products.

On top of this strongpoint of the group, Hakata Marukitafs cod roe operations and Tokyo Kitaitchifs product line-ups, processing technology, and brand value will be added. This will enable a synergy effect of processing functions in China and at Hachioji General Plant, resulting in a fundamental shift of cod roe operations from business focused on raw roe to processing business. From this point on, the group will develop overseas markets for products that utilize newly acquired functions and aim for the expansion of cod roe operations and profit optimization.

[Hakata Marukita Suisan Company]
Representative: Nobuo Honda
Est.: Dec. 7, 2009
Capital: \10 million
Shareholder: Nippon Suisan 100%

[Tokyo Kitaichi Company]
Representative: Shigekazu Watanabe
Est.: June 1982
Capital: \90.226 million (after increased capitalization)
Shareholder: Shigekazu Watanabe 51.52%; Akemi Watanabe 9.09%; Nippon Suisan 39.99%

The original article was published on January@28, 2010 and was translated by Kiyo Hayasaka.

Kyokuyo President Fukui Says gGreat Job on Year-End Sales Glitzh

January 28, 2010

Kyokuyo President Kiyokazu Fukui commented on business performance up to the third quarter, including the trend of the year-end sales battle, at a press meeting on spring collection on Jan. 28.

gBoth Marine Products Purchasing and Processed Food Divisions were forced with tough fights up until mid December; however, referring only to the year-end sales glitz, each division fought a good fight and performed well mainly with low-priced products. Conversely, we were afraid such high-priced foodstuffs as king crab might go out of stock; our projection unfortunately was proven right. We were left with something to reflect on, like we could have worked a bit harder. After the dawn of the New Year, we are feeling the need to keep pace with demand stimulation of overall marine products. Despite the consumer trend of low prices, we dared to push a high grade crab-flavored kamaboko gOcean King no Kiwamih as the number one item of our new spring products. Our company will work in an all-out effort to increase sales.

gWe will announce the 3Q results on Jan. 29; there will be no jaw-dropping news. They say a period of January through March is a downtime, but it is a period of entrance towards spring demand. Bonito prices are on the rise and we are anticipating that a joint venture company in Thailand, KUE, will be able to expand its sushi-related operations (sushi toppings and frozen sushi). With deflation and stronger yen in mind, we will aim for business development with quick reaction and positivity. As the first year of our three-year midterm business plan gKyokuyo Group Challenge 2012,h we wish to contribute to upward results, even a little bit. As far as the new spring products go, we have strong commitment to each one of them, developed with customersf needs in mind. We would like to provide safety assured products surpassing our catch phrase gTasty Kyokuyo always right next to you.h

Managing Executive Director Kubo Says gPutting Every Energy Into Ocean Kingh

Kyokuyo Managing Executive Director Kotaro Kubo spoke of Food Business:

gThe business environment surrounding the food industry exhibits perpetuating reactions to plunges in retail prices and an absolutely necessary need of measures against deflation, in responding to consumer preference of lower prices resulting from the increasing consumer awareness of self-protection. Kyokuyo Groupfs food business operations aim to provide suggestions fulfilling clientsf satisfactions in terms of price and quality, resultantly leading to expanded sales.

gFood Businessf performance results for the third quarter on a sales basis indicate that frozen seafood slightly increased; cooked frozen foods faced a tough time; and room temperature foods favorably displayed a two-digit increase. We continue to aim for a share expansion with reinforced competitiveness, differentiated products, and product development meeting clientsf needs.

gWhat we are especially focusing on in our new product line-up is gOcean King no Kiwamih and gOcean King no Kiwami for Tempurah in an gOcean Kingh series. They are the products embracing an image of king crab and use high quality surimi. We managed to materialize succulent crab meat by lining fiber diagonally.h

The original article was published on January@28, 2010 and was translated by Kiyo Hayasaka.

Income Indemnity for Costal Fishermen Become Effective in 2010

January 27, 2010

Hirotaka Akamatsu, Minister of Agriculture, Forestry and Fisheries, touched on a subject of an income indemnity policy in a lecture held at Sasebo City, Nagasaki Pref. on Jan 24. The Minister said, gThe income indemnity policy for costal fishermen will go into effect, a year after the agricultural sector.h

Taking into account the situation of costal fisheries, it is expected that the coverage will be extended to deep-sea fisheries.

The original article was published on January@27, 2010 and was translated by Kiyo Hayasaka.

Kyokuyofs New Product gOcean King no Kiwameh Hits Market

January 27, 2010

Kyokuyo announced 23 new products for spring on Jan 26. In the category of bonito/tuna processed foods, there are five products, i.e. sliced red meat of bigeye and yellowfin for sushi toppings, (target sales of \200M). Frozen seafood has four products, including spear squid (half-cut, slices, noodle type); squid used is boat frozen squid caught near Indonesia, with a sales goal of \300 million. In the category of frozen prepared foods, there are ten products that contain crab-flavored kamaboko gOcean King no Kiwamih (target sales of \600M). Room temperature foods have four products that include gNishin-Sanma Konbu-Makih (herring-saury wrapped in kelp) with a planned sales of \400 million. The new products are to be released on Feb. 1, except for some products.

gOcean King no Kiwamih is a proudly updated, close-to-perfection version of gOcean King,h which has been a long selling product, popular for its rich flavor and taste since its release in 1982. Using high-end surimi as a raw material, the company succeeded in increasing its succulence and fiber-like texture. A tray pack with five pieces and one for gtempurah will be released at the same time.

Processed products of bonito and tuna were developed with consumer convenience in mind. For sliced red meat of bigeye and yellowfin, freshly on-boat frozen materials are used. gSeasoned Negi-Toroh (seasoned fatty tuna with scallion), seasoned with soy sauce and then frozen, was developed for rice ball products at convenience stores. It can be used right away after defrosting. gMaguro Amani Flake Kh (tuna cooked in sweet sauce) and gKatsuo Amani Flake K,h both of which use domestic raw materials, were created for rice dishes.

gSake Hogushi-mih (shredded salmon) in frozen seafood products uses chum salmon, which is steamed, shredded, and then grilled. In addition to its use for lunch programs and to-go bento boxes, there is a special characteristic that finely shredded salmon is chewable for those with a lower masticator ability. There are two types with or without seasonings.

Room temperature foods, which have been recording two-digit sales increases in this fiscal term so far, introduce gSake no Nakabone Mizunih (salmonfs center bone cooked in water), gNishin Konbu-maki,h hSanma Konbu-maki,h and professional-use fish sausage. gSake no Nakabone Mizunih has a new label design. Environmentally friendly packaging materials are used. gNishin Konbu-makih and hSanma Konbu-makih are labor-intensive recipes when cooked at home, and this time the shape of a can was changed from sharp edges to round edges.

The original article was published on January@27, 2010 and was translated by Kiyo Hayasaka.

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