Impact of Exchange-Rate Fluctuations on Overseas Operations

「In the overseas business, revenue and ordinary profit at ANZCO FOODS both increased, as profitability improved in beef sales to North America and lamb sales to Europe, in addition to the impact of the change in the fiscal year-end.」

「In the overseas business, Anzco Foods' revenue increased, but profit declined as a result of higher personnel and utility costs and weak exports to China, among other factors.」

「Although sales volumes declined due in part to persistently high local procurement prices for imported meat, revenue increased due to higher selling prices across the domestic business and the recovery of foodservice sales following the easing of restrictions on activity.」

「In the domestic business, sales volumes of imported meat declined because it remained expensive amid higher local prices and the rapid depreciation of the yen. However, revenue increased due to higher selling prices across the domestic business and increased sales of domestic beef as the foodservice industry recovered.」

「Profit declined due in part to higher procurement prices resulting from high market prices and the rapid depreciation of the yen, as well as continued congestion in ocean container transportation.」

「In the overseas business, Anzco Foods' revenue declined due to the temporary suspension of plant operations and other effects of the New Zealand government's COVID-19 measures. However, profit exceeded the previous year as a result of efforts to reduce costs and focus sales on profitability.」

「As a result, revenue from the meat business during the cumulative first quarter of the fiscal year declined by ¥8,742 million from the same quarter of the previous year to ¥130,508 million, down 6.3% year on year, including the impact of translating overseas business revenue into yen. Operating profit declined by ¥392 million to ¥2,806 million, down 12.3% year on year.」

「In the overseas business, Anzco Foods' foreign-currency-denominated revenue increased as procurement and sales conditions recovered, but declined after translation into yen.」

「The Group conducts currency hedging transactions and seeks to minimize the impact of short-term fluctuations in exchange rates among major currencies. However, medium- to long-term currency movements may prevent it from reliably carrying out its planned procurement, manufacturing, distribution and sales activities.」

「The company conducts currency hedging transactions and seeks to minimize the impact of short-term fluctuations in exchange rates among major currencies. However, medium- to long-term currency movements may prevent it from reliably carrying out its planned procurement, manufacturing, distribution and sales activities.」

「The Group conducts currency hedging transactions and seeks to minimize the adverse impact of short-term fluctuations in exchange rates among major currencies. However, medium- to long-term currency movements may prevent it from reliably carrying out its planned procurement, manufacturing, distribution and sales activities. There is also a risk that translation differences arising when the financial statements of overseas consolidated subsidiaries prepared in foreign currencies are translated into yen will cause shareholders' equity in the consolidated financial statements to fluctuate through the foreign currency translation adjustment account.」

「The Group conducts currency hedging transactions and seeks to minimize the adverse impact of short-term fluctuations in exchange rates among major currencies.」

「In the overseas business, Anzco Foods' revenue declined significantly and profitability deteriorated due to sharp currency fluctuations and lower overseas meat prices.」