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Ichimasa Kamaboko 1Q Indicates Diminishing Deficit

November 15, 2013

Niigata-based fish paste company Ichimasa Kamaboko Co., Ltd. (President Masahiro Nozaki) announced its first quarter result (July-Sep) for FY June 2014 as follows: sales of JPY 6.8 billion (€50.2 million/$67.8 million), up 9.1 pct YOY; an operating loss of JPY 34 million (€251,000/$339,000), as opposed to a deficit of JPY 115 million (€850,000/$1.1 million); an ordinary loss of JPY 37 million (€273,000/$369,000), which was a deficit of JPY 122 million (€901,000/$1.2 million); and net income of JPY 14 million (€103,000/$140,000) - profitability was up from a net loss of JPY 168 million (€1.2 million/$1.7 million).

Revenues accomplished by the segment of seafood paste and deli products went up 8.6 pct, amounting to JPY 5.8 billion (€42.9 million/$57.8 million). An operating loss of JPY 54 million (€4 million/$5.4 million) was posted. It was a deficit of JPY 95 million (€702,000/$946,000) in the same period last year.

“The record breaking heat this summer stagnated the sales of seafood kneaded products. But thanks to lower temperatures from late August our oden products began to move well. We put our energy into renewing our products and developing new deli type items,” the Company commented.

Mushroom business marked sales in the amount of JPY 800 million (€6 million/$8 million), or up 15.2 pct and an operating loss of JPY 9 million (€67,000/$89,600), in contrast with a deficit of JPY 51 million (€377,000/$509, 000) a year ago.

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