Active Investment in Growth Areas

「We are steadily advancing the construction of a new domestic plant, the operation of a new plant in North America and an expanded plant in Europe, as well as price revisions, to strengthen earnings capacity over the medium to long term.」

「The main factors were cash payments of ¥43.076 billion for the acquisition of property, plant and equipment to expand production capacity, including the construction of new plants in Japan and overseas, and cash payments of ¥19.047 billion for the acquisition of shares in subsidiaries, including PESQUERA YADRAN S.A., resulting in a change in the scope of consolidation.」

「This was mainly due to cash payments of ¥24.356 billion for the acquisition of property, plant and equipment associated with investments in production facilities in Japan and overseas and other items.」

「We plan to invest approximately ¥150 billion over the 3-year medium-term management plan period (on a completion basis).」

「This was mainly due to cash payments of ¥14.098 billion for the acquisition of property, plant and equipment associated with investments in production facilities in Japan and overseas and other items.」

「Net cash used in investing activities was ¥19.024 billion, up ¥8.859 billion year on year. This was mainly due to cash payments of ¥14.328 billion for the acquisition of property, plant and equipment associated with investments in domestic production facilities and other items.」

「Property, plant and equipment and other fixed assets increased by ¥4.729 billion to ¥249.393 billion, up 1.9%. The main factor was a ¥2.802 billion increase in property, plant and equipment due to capital expenditures and other items.」

「Our Group, comprising the Company and its consolidated subsidiaries, made total investments of ¥24.585 billion, primarily in facilities to strengthen existing businesses and improve efficiency and maintenance.」

「Property, plant and equipment and other fixed assets increased by ¥5.804 billion to ¥246.444 billion, up 2.4%. Property, plant and equipment increased by ¥4.466 billion due to capital investments in overseas plants and other items.」

「Net cash used in investing activities was ¥10.165 billion, up ¥537 million year on year. This was mainly due to cash payments of ¥9.744 billion for the acquisition of property, plant and equipment associated with investments in domestic production facilities and other items.」

「Property, plant and equipment and other fixed assets increased by ¥4.285 billion to ¥244.925 billion, up 1.8%. The main factor was a ¥4.167 billion increase in property, plant and equipment due to capital investments in plants in the domestic food business and other items.」

「As part of our cash allocation policy, we will invest for growth while strengthening shareholder returns and targeting a payout ratio of at least 30%. We plan total investment of ¥120 billion on a completion basis, or ¥110 billion on a payment basis.」

「This was mainly due to cash payments of ¥9.205 billion for the acquisition of property, plant and equipment associated with investments in production facilities in the United States and Japan, and cash payments of ¥1.577 billion for the acquisition of shares in subsidiaries resulting in a change in the scope of consolidation.」

「Property, plant and equipment and other fixed assets increased by ¥1.420 billion from the end of the previous consolidated fiscal year to ¥245.081 billion, up 0.6%. The main factor was a ¥1.329 billion increase in property, plant and equipment due to capital investments in overseas plants and other items.」

「Capital expenditures were expected to total approximately ¥90 billion over 3 years, including approximately ¥10 billion for M&A and other items. We made ¥87.6 billion in capital investments, including equity investments in overseas aquaculture companies, construction of land-based aquaculture facilities and hatcheries in Japan, investments in food plants in Europe, the United States and Asia, and expansion of logistics facilities in the Kansai region.」

「Although we invested ¥14.025 billion in vessels in Oceania and Japan and other items, we received ¥2.401 billion from the sale of shares in a subsidiary resulting in a change in the scope of consolidation, resulting in net cash used in investing activities of ¥9.666 billion.」

「The main growth investments over the past 2 years included investments in an Oceania shrimp aquaculture company and a European closed-loop salmon aquaculture business, construction in Japan of a silver salmon hatchery for improved seed quality, earlier spawning and selective breeding, and construction of a recirculating land-based chub mackerel aquaculture facility, all within the fishery products business. In the food business, investments were made in food plants in Asia, while in logistics, logistics facilities in the Kansai region were expanded.」

「Property, plant and equipment and other fixed assets increased 3.9% from the end of the previous consolidated fiscal year to ¥239.324 billion. This was mainly due to a ¥6.616 billion increase in property, plant and equipment.」

「Net cash used in investing activities was ¥13.665 billion, mainly due to cash payments of ¥13.391 billion for the acquisition of property, plant and equipment, up ¥4.654 billion year on year, and other factors.」

「Chilled business: lower sales and profit year on year <Japan> • In addition to the change in transaction format (Note 2), higher costs including depreciation and amortization at the new plant and lower sales volumes due to unfavorable weather resulted in lower sales and profit.」

「Under the medium-term management plan "MVIP+ (Plus) 2020," we planned to generate approximately ¥120 billion over three years through operating cash flow and the use of cash and deposits, and invest approximately ¥90 billion mainly in growth drivers. In the first year, we used operating cash flow and cash and deposits effectively to make ¥22.997 billion in capital investments and repay ¥11.732 billion in borrowings.」

「Property, plant and equipment and other fixed assets increased 1.9% from the end of the previous consolidated fiscal year to ¥233.363 billion. This was mainly due to increases of ¥2.005 billion in property, plant and equipment and ¥2.993 billion in investment securities.」

「Net cash used in investing activities was ¥4.761 billion, mainly due to cash payments of ¥8.736 billion for the acquisition of property, plant and equipment, down ¥2.905 billion year on year.」

「Although sales increased following the reopening of the cold-storage facility, profit was broadly unchanged from the previous year because of higher labor and electricity costs.」

「In addition to higher sales at the Osaka Maishima Logistics Center, existing cold-storage facilities also performed steadily, with volumes received exceeding the previous year, resulting in higher sales and profit.」

「Net cash used in investing activities was ¥10.992 billion, mainly due to cash payments of ¥11.714 billion for the acquisition of property, plant and equipment, up ¥634 million year on year, and cash payments of ¥1.650 billion for the acquisition of shares in subsidiaries resulting in a change in the scope of consolidation, up ¥1.650 billion year on year.」

「Although sales volumes of pharmaceutical raw materials were maintained at the previous year's level, profit declined because of higher depreciation and amortization following the construction of the Kashima pharmaceutical plant and advertising expenses to expand sales of functional foods.」

「Our Group, comprising the Company and its consolidated subsidiaries, made total investments of ¥23.774 billion, primarily in facilities to strengthen existing businesses and improve efficiency and maintenance.」

「Actively invest for growth.」

「Actively invest for growth.」

「Although the opening of the Osaka Maishima Logistics Center increased net sales, depreciation and amortization and initial opening costs were incurred.」

「During the medium-term management plan period, we will make capital investments in strategic businesses to achieve growth. Total investment: ¥70 billion (standalone ¥23 billion, Group ¥47 billion).」