Free NewsletterNippon Suisan Announces Net Loss of \1.3B for Q2 Caused by Diminished Sales and EarningsNovember 8, 2010 Nippon Suisan's second quarterly business performance for FY03/2011 is sales of \237.2 billion (down 1.7 percent), operating profit of \3.314 billion (down 12.9 percent), ordinary proceeds of \684 million (down 77.5 percent), and net loss of \1.321 billion (net income of \1.031 last year). Slack Overseas Operations in Marine Products Business Generates Operating LossThe Marine Products Business cited sales of \80.8 billion, a tumble of \4.9 billion year over year, and operating loss of \1.224 billion, a \134 million gain from the operating deficit recorded at this period last year. Hakata Marukita Suisan joined as a consolidated subsidiary; on the other hand, the output of cod roe in North America contracted, so did sales prices. Even though Netuno International S.A. became a consolidated subsidiary in South America and salmon farming business experienced an ameliorating effect of business structure and improved fish prices, fisheries operations suffered a substantial reduction in landings. Moreover, sales volume slumped in Europe in such a tough market environment.
Fine Chemicals Business' Revenue and Profit IncreasesExpanded sales volume of pharmaceuticals and health products contributed to sales of \12.6 billion (up \800 million on a year-over-year basis) and operating profit of \2.8 billion (up \300 million) in the Fine Chemicals Business. The General Distribution Business reported sales of \5.8 billion, a rise of \32 million, and operating earnings of \700 million, a drop of \245 million, as a result of reduced storage cargos, combined with sluggish goods movement.
Maruha Nichiro's Q2 Demonstrates Substantial Profit Gain Due to Improved Performance of Seafood BusinessNovember 2, 2010 Marine Products Tradings Unit and Fisheries & Aquaculture Unit's ContributionThe Maruha Nichiro Holdings announced its consolidated financial statement for the second quarter of FY03/2011. Sales remained almost unchanged from the same quarter last year at \405.2 billion. With improved profits of Fishery Operations owing to recuperating market, the consolidated earnings marked substantial profit gains, registering an 86.5 percent rise in operating income to \8.185 and a 99.3 percent growth in ordinary proceeds to \6.284 billion. Nonetheless, its quarterly net income ended at \2.216 billion, down 13.3 percent, attributable to an impairment loss of \899 million, a loss on revaluation of investments in securities of \528 million, and net interest income of \1.053 billion stemmed from the dearer yen.
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