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Hokkaido Onshore Surimi Production Until May

July 5, 2010

National Surimi Manufacturers Association released Hokkaido onshore surimi output for the month of May. The total of onshore surimi yield for May was 1,901 tons; an aggregate amount from January thru May came to 9,474 tons (13,404 tons on the same month a year ago). Furthermore, pollack catches in April came to 10,188 tons; the cumulative total for the period of January to April tallied in at 42,181 tons. The yield of arabesque greenling for April recorded 3,877 tons; the accumulated output from January thru April totaled 19,167 tons.

In addition, import amounts of surimi and pollack for the period of January to April were as follows: pollack surimi 17,630 tons (9,951 tons on the corresponding period last year); golden threadfin bream surimi 18,892 tons (11,258 tons); zero IQ fish/Japanese horse mackerel (48 tons); barracuda/cod 575 tons (213 tons); other fish meat 34,327 tons (25,996 tons); and frozen pollack 365 tons (440 tons). An inventory of frozen surimi as of late April added up to 58,586 tons: pollack 27,341 tons (112 percent on year-over-year) and others 31,245 tons (105 percent).

The original article was published on July 5, 2010 and was translated by Kiyo Hayasaka.

Kyokuyo's General Meeting Lasts One and Half Hours Due to Active Q&As

June 28, 2010

Kyokuyo held its 87th annual shareholders meeting in Tokyo on June 25. The five original proposals, e.g. a year-end dividend and selection of members of the board of directors, were passed. Roughly 400 shareholders attended the yearly event. A lively Q&A session caused the meeting to last one and a half hours.

After reporting on business performance in the last fiscal year ended in March 2010 with an aid of a fourteen-minute VTR, President Kiyokazu Fukui detailed issues to be handled by each business segment.

In a subsequent Q&A session, while an opinion to praise a \5 year-end dividend was heard, there were numerous voices expressing that “This dividend amount isn’t attractive for an investor, at all. I want to see a higher dividend.” Executive Managing Director Hisaki Tada, responding to the concern, said, “A payout ratio is about 50 percent, which is higher than a general rate; however we want to maintain a \5 dividend. We implemented hospitality programs for stockholders last year, leading to an increase of roughly 5,000 shareholders. Taking advantage of strengths of the Company, we would like to boost company value.”

Some shareholders stated tough opinions as to the reasons for slacking share prices, such as “Isn’t it because of a weak brand name and marketing power?” and “it is due to insufficient marketing targeting consumers.”

President Fukui described the future course of the Company: “The only commercial product category we have is shelf-stable foods within Processed Foods. Strengthening processed foods will lead to Kyokuyo’s powerful name brand. With a newly appointed director Kenichi Matsuyuki we will put conscious efforts into it.”

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

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