Komori
Hokuryo (1384) · RiskWorsened

Risks of movement restrictions, culling and reputational damage caused by avian influenza

First written in FY2016. 10 of 24 entries say "Worsened", first in FY2021. Latest entry: 2026-08-13.

24entries
11years
3from disclosures
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How it moved
ProgressHeldSoftenedWorseMitigatedFY2018 – FY2019WorsenedFY2021-Q3 – FY2024-Q2MaterialisedFY2025-H1 – 2026-05-152016: 12017: 120172018: 120182019: 120192020: 120202021: 420212022: 420222023: 320232024: 220242025: 220252026: 42026
Same theme, other companies
Earnings volatility due to meat, feed and crude oil prices and livestock diseasesA theme 9 companies write about · 11 as a headwind · 0 as a tailwind

Hokuryo moved to the "Worse" side of this theme in 2021, 4 years before the typical company in this theme (2025).

The whole theme swung hardest in 2026: 7 of 7 companies on the "Worse" side.

4 other companies' latest entry also says "Worsened".

Ridges = years it wrote progress, valleys = years it wrote worse. Most hopeful companies at the back. Drag to turn, scroll to zoom, right-drag to pan. On a phone, two fingers turn and pinch to zoom; one finger scrolls the page.
Full recordFilings, disclosures and news, newest first
  1. 2026-08-13WorsenedResults

    「昨年10月以降今年4月までに鳥インフルエンザ発生が確認された採卵鶏農場は17事例、殺処分された採卵鶏は合計で530.5万羽となりました。」

    鳥インフルエンザの発生事例と殺処分羽数を具体的に示し、業界全体の感染・供給リスクが継続している。感染農場では再導入が進み供給力が回復している一方、今年秋以降の発生状況が業績・財政状態に影響する可能性も記載している。
  2. FY2026WorsenedAnnual report

    「Avian influenza, the greatest risk facing the poultry industry, remains the greatest threat, with more than 5.7 million chickens already culled between October last year and the end of March this year.」

    Highly pathogenic avian influenza spread for the second consecutive year, and more than 5.7 million birds were culled between October 2025 and the end of March 2026. The risk across the industry is continuing and becoming more serious.
  3. FY2026-H1MaterialisedAnnual report

    「Overseas, geopolitical risks in Ukraine and the Middle East remain high. In Japan, the first poultry-farm infection of this autumn was confirmed in Hokkaido in October, after which the infection spread outside Hokkaido in November. These domestic and overseas risks may have a significant impact on the Company’s operating results and financial position.」

    The disclosure states that the first avian influenza infection of this autumn in Hokkaido was confirmed at a poultry farm in October, after the end of the interim accounting period, and that it spread outside Hokkaido in November.
  4. FY2025MaterialisedAnnual report

    「Infection spread again last autumn, and more than 8.4 million laying hens had been culled nationwide by February this year. Globally, a major outbreak also began in North America last autumn, with infections spreading further to cattle and people, making it the greatest business risk.」

    Avian influenza spread again in Japan, resulting in the actual culling of more than 8.4 million laying hens. The major outbreak in North America and the spread of infection to cattle and people were also described, indicating that the risk has expanded geographically and in terms of the affected population.
  5. FY2025-H1WorsenedAnnual report

    「Overseas, geopolitical risks in Ukraine and the Middle East remain extremely high. In Japan, outbreaks of avian influenza at poultry farms were confirmed as early as October. These domestic and overseas risks may have a significant impact on the Group’s operating results and financial position.」

    While production recovered after the outbreak at the Chitose farms, avian influenza was again confirmed at a poultry farm in Japan in October, and the risk of infection continues and is spreading again.
  6. FY2024MitigatedAnnual report

    「After obtaining approval from the Livestock Hygiene Service Center, both farms gradually resumed introducing adult hens and producing eggs, and recovered to their pre-infection number of birds in April 2024.」

    Following the avian influenza outbreaks at the Chitose Daiichi Farm and Chitose Shirakaba Farm, adult hens were reintroduced and production resumed, with the number of birds recovering to pre-infection levels in April 2024. The risk of recurrence remains.
  7. FY2024-Q2MaterialisedAnnual report

    「During the six-month period ended 30 September, an ¥86 million loss from avian influenza, mainly consisting of disposal losses on raw eggs and feed, was recorded as an extraordinary loss.」

    The impact of the highly pathogenic avian influenza outbreaks at the Chitose Daiichi Farm and Chitose Shirakaba Farm materialised as an ¥86 million extraordinary loss, including disposal losses on raw eggs and feed. Production is being resumed at both farms, but the possibility of an earnings impact if the infection recurs remains.
  8. FY2024-Q1MaterialisedAnnual report

    「At 2 of our farms, laying hens tested positive for highly pathogenic avian influenza by PCR, and all laying hens at both farms were culled. The culling and burial of the laying hens were completed in April, and the disease-control measures were completed on 6 May.」

    The risk previously described as an industry-wide spread of infection actually occurred at the Chitose Daiichi Farm and Chitose Shirakaba Farm. Approximately 700,000 birds were culled, equivalent to approximately 15% of planned production for fiscal 2023, and a ¥68 million loss from avian influenza was recorded as an extraordinary loss. The actual occurrence of the risk and its impact have been quantified.
  9. FY2023-Q3WorsenedAnnual report

    「During the cumulative third quarter under review, there were no signs that avian influenza infections were subsiding, and the infections were spreading at the worst pace on record. The company recognizes avian influenza as a major business risk and has strengthened its biosecurity measures, but depending on future developments, it may affect the company’s operating results and financial position.」

    Avian influenza is reportedly continuing to spread at the worst pace on record, with no signs of abating. Culling of laying hens across the industry has exceeded 10 million birds, and the assumption has been changed to “the situation will not be brought under control for the time being, including in fiscal 2023.”
  10. FY2023-Q2WorsenedAnnual report

    「In addition, avian influenza infection was confirmed at 6 poultry farms in Japan from October onward, raising concerns about further spread.」

    In addition to the spread described previously, infection was confirmed at 6 poultry farms in Japan from October onward, giving concrete form to concerns about further spread. The disclosure does not state that an outbreak occurred at a company farm.
  11. FY2023-Q1MaterialisedAnnual report

    「Meanwhile, in Hokkaido, avian influenza infection was confirmed in Shiraoi in April, and 520,000 laying hens were culled, causing egg prices to rise.」

    Avian influenza infection was actually confirmed in Shiraoi, and 520,000 laying hens were culled. Although the disclosure does not explicitly state that the company’s farm was affected, it shows that the existing industry risk materialized in Hokkaido.
  12. FY2022WorsenedAnnual report

    「This season, avian influenza infection was confirmed in Akita Prefecture last November for the second consecutive season, and the infection has since spread as far as Hokkaido.」

    Avian influenza occurred for the second consecutive season, and the affected area expanded as far as Hokkaido. The disclosure does not state that an outbreak occurred at a company farm, but the geographic scope of the impact on the industry as a whole has expanded.
  13. FY2022-Q3WorsenedAnnual report

    「During the cumulative third quarter under review, in November 2021, avian influenza infection was confirmed at a poultry farm in Akita Prefecture. By the end of December, the infection had spread from Kanto to prefectures in Kyushu. The company has long recognized avian influenza as a major business risk and has strengthened its biosecurity measures, but depending on future developments, it may affect the company’s operating results and financial position.」

    After the infection was confirmed in Akita Prefecture, the affected area expanded by the end of December from Kanto to prefectures in Kyushu. The disclosure does not state that an outbreak occurred at a company farm, but the geographic scope of the industry-wide infection risk expanded further.
  14. FY2022-Q2WorsenedAnnual report

    「In addition, the domestic spread of avian influenza since last autumn has led to the culling of nearly 10 million laying hens, reducing the domestic supply capacity of eggs.」

    The disclosure states that the number of laying hens culled following the domestic spread of avian influenza reached nearly 10 million, expanding the scale of the impact from the more than 9 million reported previously.
  15. FY2022-Q1WorsenedAnnual report

    「Egg prices began rising from February this year as the culling of more than 9 million laying hens following the spread of avian influenza that began last November reduced the supply capacity of eggs, and prices have remained high to date.」

    The number of laying hens culled following the domestic spread of avian influenza exceeded 9 million, increasing from the more than 8 million previously reported. Although the disclosure does not state that an infection occurred at a Group farm, it indicates that the impact of the industry-wide risk has expanded.
  16. FY2021WorsenedAnnual report

    「However, from March onward, the trend reversed as the nationwide spread of avian influenza at poultry farms, first confirmed in Japan in November last year for the first time in 2 years and 10 months, led to the culling of more than 8 million laying hens. The figure has remained high to date.」

    The disclosure states that avian influenza spread nationwide and more than 8 million laying hens were culled, indicating that the affected area expanded beyond the previous spread as far as the Kanto region. It does not state that an outbreak occurred at a Group farm.
  17. FY2021-Q3MaterialisedAnnual report

    「In November of last year, during the cumulative consolidated third quarter under review, avian influenza infection was confirmed at a poultry farm in Japan for the first time in 2 years and 10 months. By the end of December, the infection had spread as far as the Kanto region, and more than 8 million laying hens had been culled. The Group has long recognized avian influenza as a major business risk and has strengthened its biosecurity measures, but depending on future developments, it may affect the Group’s operating results and financial position.」

    Avian influenza infection was actually confirmed at domestic poultry farms and spread as far as the Kanto region, resulting in the culling of more than 8 million laying hens. Although the disclosure does not state that an infection occurred at a Group farm, it shows that the existing business risk had recurred and expanded domestically.
  18. FY2020RestatedAnnual report

    「The Group has completed a system under which other farms and GP plants can provide backup if avian influenza occurs at any of its layer farms. However, reputational damage could cause consumers to refrain from purchasing Group products, potentially having a material impact on the Group’s operating results and financial position. In addition, if avian influenza infects a pullet farm, the Group’s dispersed construction of pullet farms means that its production functions will not be completely lost, but the supply of started pullets from pullet farms to layer farms may be disrupted, potentially having a material impact on production plans.」

    The disclosure continues to describe backup between layer farms and GP plants and the dispersion of pullet farms, while stating that the risks of reputational damage and impacts on the supply of started pullets remain.
  19. FY2019MitigatedAnnual report

    「The Group has completed a system under which other farms and GP plants can provide backup if avian influenza occurs at any of its layer farms. However, reputational damage could cause consumers to refrain from purchasing Group products, potentially having a material impact on the Group’s operating results and financial position. In addition, if avian influenza infects a pullet farm, the Group’s dispersed construction of pullet farms means that its production functions will not be completely lost.」

    The disclosure describes measures to limit supply disruptions through backup between layer farms and GP plants and the dispersion of pullet farms. It states that the risk of reputational damage remains.
  20. FY2018MitigatedAnnual report

    「The Group has completed a system under which other farms and GP plants can provide backup if avian influenza occurs at any of its layer farms. However, reputational damage could cause consumers to refrain from purchasing Group products, potentially having a material impact on the Group’s operating results and financial position.」

    The disclosure states that a system has been completed to provide backup through other farms and GP plants in response to shipment and supply impacts when avian influenza occurs. It also states that an outbreak occurred in Kagawa Prefecture in January 2018, but not at a Group farm.
  21. FY2017MaterialisedAnnual report

    「In December 2016, avian influenza occurred in Hokkaido for the first time, but no notable decline in consumption was observed.」

    Avian influenza did in fact occur in Hokkaido, but the disclosure does not state that it occurred at a Group farm or that there was any notable decline in consumption.
  22. FY2016First statedAnnual report

    「If avian influenza occurs at one of the Group’s farms, the chickens will in principle be culled.」

    The disclosure identifies as risks the effects on movement restrictions, culling, shipment suspensions, reputational damage and production plans if avian influenza occurs at one of the company’s farms or at a nearby farm.
Moved together

"Uncertainty over the economic outlook due to the slowdown in the Chinese economy and yen appreciation" moved the same way as this thread, in the same document, in 13 of its 24 moves.

1343333★123456
  1. ★This thread
  2. 1Uncertainty over the economic outlook due to the slowdown in the Chinese economy and yen appreciation13×
  3. 2Impact of COVID-19 on Commercial-Use Demand and Egg Prices4×
  4. 3Stable Dividends and Business and Capital Investment Funded by Retained Earnings3×
  5. 4Equipment renewal through the reconstruction of the farm’s adult chicken houses3×
  6. 5Securing growth potential through stable expansion of sales channels outside Hokkaido3×
  7. 6Thorough Safety and Biosecurity Measures Against Salmonella and Avian Influenza3×

★ is this thread; numbers match the list above. The number on a line is how many documents both moved the same way in; lines between the other threads count the documents they moved together in too. Threads that move together often sit closer.

When this could move next
No upcoming earnings preview for Hokuryo yet. It last moved in the Results of 2026-08-13: "Worsened".
News
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