August 17, 2007
Kozosushi reports loss
Kozosushi`s interim sales were 1.42 billion Yen this year,
a 4.1 decrease from the previous year. The company saw operating
loss of 4,150 million Yen and ordinary loss of 3,630 million
Yen which resulted in a 3,740 million Yen in interim net loss.
Japan`s biggest "take-out" sushi chain with over
1,000 locations, has been speeding up its restructuring by
reopening newly renovated stores and by providing better overall
customer satisfaction. Forty-eight stores were reopened last
year, sixty-eight in the interim term and another hundred
during the second quarter.
Sales at renovated locations experienced some growth, while
original locations have their figures dropped.
"We are behind schedule on renovating the remainder of
our original locations and as a result, are unable to accurately
assess the effect of our renovated locations" stated
Kozosushi projects that sales for the fiscal year are down
3.1% to 2.9 billion yen.
Nichirei raises prices in response to higher
Nichirei Foods will increase selling prices of frozen foods
and subsets of non-refrigerated items 10-15% in response to
the increased costs of seafood and pastoral raw material costs.
With escalation gas prices, the company has endured a price
hike of their own with respect to packages, trays and overall
Seafood raw material costs, along with evolving cost of animal
feed, have been severely affected by bio-ethanol production
and as a result, have opposed day to day business activities.
"We have come to a point where our bottom line has been
crossed and we cannot absorb any other unforeseen costs. We
will continue to focus on trying to increase our overall productivity
with the notion that this current inflation trend may accompany
us for the long term. Ultimately we have arrived at the conclusion
that this price increase was unavoidable in our minds",
stated the company.
Nichimo Int`l explains, "Surimi supply
Keiichi Ohmatsuzawa, the CEO of Nichimo International stated
that "B" season surimi supply is tight" to
The Suisan Times.
"Slump production of Pacific whiting surimi, production
stoppage of blue whiting surimi production by Aker Seafoods
along with the projection cutting quota for cods next season
are all major contributors to the tight supply" said
"The production made from pacific whiting this year was
unfavorable because manufacturing vessels gave priority to
fillet, putting surimi production on the back burner. The
catch achieved its limit before the harvest had arrived. As
a result, pacific whiting surimi production was only two-third
of what was estimated and expected. We are unsure how the
merger of Nichiro and Maruha will affect the shortage. The
supply is shrinking and that`s certain. We must prepare for
soaring prices. "he added.
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