Welcome   Sponsored By
Subscribe | Register | Advertise | Newsletter | About us | Contact us
   


Both sales and profits increased thanks to the good catch of sardines, mackerel, etc.

Nissui increases profits in the fishing sector

Click on the flag for more information about Japan JAPAN
Friday, May 17, 2024, 07:00 (GMT + 9)

Consolidated fiscal year ending March 2024. Improved profitability through inventory reduction, etc.

Shinya Yamamoto, CEO and CFO of Nissui (Chairman Shingo Hamada) summarized the consolidated financial results for the fiscal year ending March 2024 saying: "Sales, operating income and net income reached all-time highs, which resulted in a good financial result," he spoke at an online financial results conference on the 14th. In terms of sales by business, marine products increased 2.6% year-on-year to 336.8 billion yen, and food products increased 2.6% year-on-year to 336.8 billion yen, 16%. 443.2 billion yen. Although market conditions for marine products worsened, sales increased due to the weak yen.

Both sales and operating income reached record levels. Net profit also hit a new high for the third year in a row. Shinya Yamamoto added: "We were able to achieve good numbers. We want to work towards achieving the medium-term plan and at the same time respond to changes with agility."

Qualitative information for the financial year ended March 31, 2024

Explanation of consolidated financial results

During the consolidated fiscal year, there were concerns about the outlook for the Japanese economy due to factors such as inflation caused by the prolonged situation in Ukraine and other uncertainties. However, there were positive signs of improvement in the economic environment, driven by the transition of COVID-19 to a level 5 infectious disease and domestic travel support, leading to the recovery of human flow and incoming demand.

Regarding the global economy, during the consolidated period from January to December, high inflation and the increase in official interest rates continued in Europe and the United States. The economy remained stable in the United States with continued improvement in employment and an increase in personal consumption. While in Europe the economy was slow, mainly in Germany, as demand decreased due to monetary tightening.

For the company and its group, the Food Products business was positively affected by the increase in domestic and international sales prices and the decrease in raw material prices, which resulted in a significant increase in profits.

In the Marine Products business, profits declined as market prices of our main products, such as salmon and surimi, declined in Japan and abroad, while the domestic seafood business remained firm.

In the current situation, our consolidated business performance was as follows: net sales were 831.375 million yen, an increase of 63.194 million yen year-on-year; operating profit was 29.663 billion yen, a year-on-year increase of 5.175 billion yen; ordinary profit was 31,963 million yen, a year-on-year increase of 4,187 million yen; The profit attributable to the owners of the parent company was 23.85 billion yen, a year-on-year increase of 2.617 billion yen. We achieved a record in both operating profit and attributable to the owners of the parent company. The gain on the sale of shares of one of our consolidated subsidiaries, Nissui Pharmaceutical Co., Ltd. (now Shimadzu Diagnostics Corporation), was recorded in the first half of fiscal 2022.

Marine products business

The marine products segment is engaged in the businesses of fishing, aquaculture, and seafood processing and marketing.

We recorded 336,892 million yen (up 8,557 million yen year-over-year) in sales and an operating profit of 10,697 million yen (down 7,881 million yen year-over-year) in the marine products business.

Fishing business: Both sales and profits increased year over year.

[Japan]

Both sales and profits increased thanks to the good catch of sardines, mackerel, etc.

Aquaculture Business: Sales increased but profits decreased year over year.

[Japan]

Coho Salmon numbers increased due to improved operation with no mortality or increasing backlog, and farmed tuna sales prices were strong. Farmed Buri horse mackerel sold well last year as we were able to take advantage of full consolidation while competitors were unable to supply the fish well. However, total supply returned to normal levels this year, resulting in a reactionary decline caused by weakening selling prices. As a result, sales increased, but profits decreased.

[South America]

Sales increased due to improvements in survival rates and an increase in trout sales volume as a result of improvements in the breeding environment. However, profits decreased due to a negative impact on the evaluation of fish in the pond (Note 1), as the selling price began to be lower than the previous year in the middle of this year.

Seafood processing and marketing business: Sales increased, but profits decreased year over year.

[Japan]

Sales of commercial seafood and industrial lunches began to show the positive effects of rising prices. In addition, sales of shrimp, fish oil and fish meal performed well.

However, we accelerated the early removal of unprofitable inventory as fish market prices for key products such as salmon/trout, surimi and imported frozen tuna entered an adjustment phase. Profits rose in the fourth quarter but declined for the full year.

[North America]

An increase in the catch quota for Alaska pollock increased production volume in the processing business. However, profits declined due to rising costs, such as labor expenses, and a sharp drop in the market price of surimi and fillet caused by increased supply.

[Europe]

The decline in profits can be attributed to reduced pollock inventories. Additionally, the pace of cargo movement slowed as the fishing market began to adapt.

Food Products Business

The Food Products segment is engaged in the food processing and refrigerated food businesses.

We recorded 443,297 million yen (up 61,249 million yen year-over-year) in sales and an operating profit of 27,291 million yen (up 15,864 million yen year-over-year) in the food products business.

[email protected]
www.seafood.media


 Print


Click to know how to advertise in FIS
MORE NEWS
Peru
Jun 15, 21:00 (GMT + 9):
The price of oil
Falkland Islands
Jun 14, 21:00 (GMT + 9):
IN BRIEF - Good catches of Loligo, Illex, hubbsi hake and toothfish
China
Jun 14, 07:40 (GMT + 9):
Indian Ocean squid price index: Flying squid (Ommastrephes bartramii)
Viet Nam
Jun 14, 07:00 (GMT + 9):
Shrimp Exports Likely to Continue Growing in Q2 2024
Russian Federation
Jun 14, 07:00 (GMT + 9):
Salmon Season 2024: Kamchatka Fishermen Gain Harvesting Momentum
Spain
Jun 14, 07:00 (GMT + 9):
Balfegó Successfully Concludes the 2024 Bluefin Tuna Fishing Campaign
South Korea
Jun 14, 07:00 (GMT + 9):
Fishing Sector Advocates for Sustainable Fisheries Management to Feed 10 Billion People
Costa Rica
Jun 14, 06:50 (GMT + 9):
Dozens of dead sailfish and marlin found in Golfo Dulce
Costa Rica
Jun 14, 01:10 (GMT + 9):
IN BRIEF - FECOP Promotes the Blue Economy with the Women’s Nautical School
Argentina
Jun 14, 01:00 (GMT + 9):
Court Ruling Orders Seizure of the Tai An Vessel
United States
Jun 14, 01:00 (GMT + 9):
Tinned Plant-Based Fish Brand Seed to Surf Announces National Whole Foods Rollout
European Union
Jun 14, 01:00 (GMT + 9):
What if adopting the Energy Taxation Directive was a mitigation action under UNCLOS?
Japan
Jun 14, 00:50 (GMT + 9):
Production volume │Surimi derived products | Chikuwa - Kamaboko - Naruto │2022-23-24
Japan
Jun 14, 00:40 (GMT + 9):
Statistics │ Import │Frozen Bottomfish from USA and Russia │2023-24
Japan
Jun 14, 00:30 (GMT + 9):
Statistics │ Import │Sablefish / Black Cod │ USA and Canada │ 2023-24



Lenguaje
FEATURED EVENTS
  
TOP STORIES
Vietnamese canned tuna increases market share in the US
Viet Nam Vietnam's canned tuna exports continue to grow rapidly in the first months of 2024. In April 2024 alone, canned tuna exports to this market increased by 127 %, reaching more than 10 million USD. A...
GSA Releases Outline of the Responsible Seafood Summit 2024 Conference Program
United Kingdom Global Seafood Alliance (GSA) has announced the release of an outline of its highly anticipated Responsible Seafood Summit conference program for 2024. Set to take place in October in St Andrews,...
Indian Ocean squid price index: Flying squid (Ommastrephes bartramii)
China In order to continuously enhance the ability to control squid resources and price influence, and conduct more accurate resource assessment and forecasting, the China Ocean Fisheries Association&n...
Court Ruling Orders Seizure of the Tai An Vessel
Argentina Federal Court No. 11 where the case for environmental damage is being processed in a collective process decided to issue the definitive seizure of the ship, after considering that the plaintiffs have ...
 

Maruha Nichiro Corporation
Nichirei Corporation - Headquarters
Pesquera El Golfo S.A.
Ventisqueros - Productos del Mar Ventisqueros S.A
Wärtsilä Corporation - Wartsila Group Headquarters
ITOCHU Corporation - Headquarters
BAADER - Nordischer Maschinenbau Rud. Baader GmbH+Co.KG (Head Office)
Inmarsat plc - Global Headquarters
Marks & Spencer
Tesco PLC (Supermarket) - Headquarters
Sea Harvest Corporation (PTY) Ltd. - Group Headquarters
I&J - Irvin & Johnson Holding Company (Pty) Ltd.
AquaChile S.A. - Group Headquarters
Pesquera San Jose S.A.
Nutreco N.V. - Head Office
CNFC China National Fisheries Corporation - Group Headquarters
W. van der Zwan & Zn. B.V.
SMMI - Sunderland Marine Mutual Insurance Co., Ltd. - Headquarters
Icicle Seafoods, Inc
Starkist Seafood Co. - Headquearters
Trident Seafoods Corp.
American Seafoods Group LLC - Head Office
Marel - Group Headquarters
SalMar ASA - Group Headquarters
Sajo Industries Co., Ltd
Hansung Enterprise Co.,Ltd.
BIM - Irish Sea Fisheries Board (An Bord Iascaigh Mhara)
CEFAS - Centre for Environment, Fisheries & Aquaculture Science
COPEINCA ASA - Corporacion Pesquera Inca S.A.C.
Chun Cheng Fishery Enterprise Pte Ltd.
VASEP - Vietnam Association of Seafood Exporters & Producers
Gomes da Costa
Furuno Electric Co., Ltd. (Headquarters)
NISSUI - Nippon Suisan Kaisha, Ltd. - Group Headquarters
FAO - Food and Agriculture Organization - Fisheries and Aquaculture Department (Headquarter)
Hagoromo Foods Co., Ltd.
Koden Electronics Co., Ltd. (Headquarters)
A.P. Møller - Maersk A/S - Headquarters
BVQI - Bureau Veritas Quality International (Head Office)
UPS - United Parcel Service, Inc. - Headquarters
Brim ehf (formerly HB Grandi Ltd) - Headquarters
Hamburg Süd Group - (Headquearters)
Armadora Pereira S.A. - Grupo Pereira Headquarters
Costa Meeresspezialitäten GmbH & Co. KG
NOAA - National Oceanic and Atmospheric Administration (Headquarters)
Mowi ASA (formerly Marine Harvest ASA) - Headquarters
Marubeni Europe Plc -UK-
Findus Ltd
Icom Inc. (Headquarter)
WWF Centroamerica
Oceana Group Limited
The David and Lucile Packard Foundation
Ajinomoto Co., Inc. - Headquarters
Friosur S.A. - Headquarters
Cargill, Incorporated - Global Headquarters
Benihana Inc.
Leardini Pescados Ltda
CJ Corporation  - Group Headquarters
Greenpeace International - The Netherlands | Headquarters
David Suzuki Foundation
Fisheries and Oceans Canada -Communications Branch-
Mitsui & Co.,Ltd - Headquarters
NOREBO Group (former Ocean Trawlers Group)
Natori Co., Ltd.
Carrefour Supermarket - Headquarters
FedEx Corporation - Headquarters
Cooke Inc. - Group Headquarters
AKBM - Aker BioMarine ASA
Seafood Choices Alliance -Headquarter-
Austevoll Seafood ASA
Walmart | Wal-Mart Stores, Inc. (Supermarket) - Headquarters
New Japan Radio Co.Ltd (JRC) -Head Office-
Gulfstream JSC
Marine Stewardship Council - MSC Worldwide Headquarters
Royal Dutch Shell plc (Headquarter)
Genki Sushi Co.,Ltd -Headquarter-
Iceland Pelagic ehf
AXA Assistance Argentina S.A.
Caterpillar Inc. - Headquarters
Tiger Brands Limited
SeaChoice
National Geographic Society
AmazonFresh, LLC - AmazonFresh

Copyright 1995 - 2024 Seafood Media Group Ltd.| All Rights Reserved.   DISCLAIMER