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Nichimo Posts 7% Turnover Hike to 99.9B Yen

May 14, 2013

Tokyo-based company Nichimo Co., Ltd. (President Yukio Koike) posted its financial results for the term ended March 2013. Sales soared 7.1 percent to 99.9 billion yen from the previous term. Operating earnings ended at 880 million yen, down 18.8 percent. Ordinary profit came to 775 million yen with a decline of 13.4 percent. Net income jumped 13.5 percent, totaling 728 million yen.

Food business registered increased revenues, but declined profits. Surimi sales remained unchanged from the prior year; however, fueling raw material costs led to a fall in profit. In frozen seafood, live crabs from Russia increased. Perfectly timed selling of high quality pollack roe resulted in spikes in sales and gain. Conversely, frozen Northern fish suffered a ruined supply and demand balance stemming from a glut of coho salmon farmed overseas. The Dept. of Processed Foods failed to pass skyrocketed purchasing costs, which was the result of fierce sales competition of tunas and whelk, on to selling prices.

San Arawa S.A., manufacturer and seller of surimi and fillets made of Southern blue whiting and hoki, was acquired as of Feb. 28 and became a subsidiary.

Marine Supply and Aquaculture, Foods Processing Machinery, Chemical Products, and Biotics businesses all recorded turnover and profit expansions.

In Marine Supply and Aquaculture, fishing materials for purse seine and set net fishing, and tuna aquaculture moved a great deal and in overseas markets nets for land use also displayed buoyancy. The Dept. of Fishing Vessel and Marine Equipment enjoyed an increasing number of businesses with public agencies, and orders of comprehensive boat and equipment packages that involve cooperation with shipyards also jumped. Large sea laver (nori) processing machines for the aquaculture sector experienced increased orders; feed materials welcomed more orders, as well.

In Foods Processing Machinery, comprehensive orders of large equipment for new plants from kneaded fish and prepared meal sectors spurt. A strong growth in orders for various machinery from seafood processors and Chinese food makers was also seen. There were surges of large orders such as tofu machines from Southeast Asia and noodles machines from the US.

In Chemical Products, the Dept. of Construction Materials (synthetic resin and plastic) steadfastly sold sheets for home interiors and construction materials. In overseas, construction materials to China and S. Korea grew.

In Botics Business, “AglyMax,” which believed to be effective in treating infertility, was newly supplied to leading health food makers. Additionally, OEM products for pharmacies and supplements for doctor’s offices performed well.

The forecast for the new fiscal year is sales of 101 billion yen, operating profit of 1.4 billion yen, ordinary earnings of 800 million yen, and net income of 500 million yen.

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