Risk from Fluctuations in Fish Prices

「Shrimp, whose profit margins declined due to falling prices in the previous fiscal year, saw prices recover. Seafood products overall recorded lower revenue but higher profit as the company pursued profitability-focused sales.」

「In addition, falling prices for Hokkaido products compressed profit.」

「Shrimp recorded higher revenue but lower profit as domestic prices fell amid the supply-demand imbalance that had continued since the end of the previous year. Crab prices continued to decline following the U.S. ban on imports of Russian products. Domestic mackerel in the North Pacific also suffered an unprecedentedly poor catch, resulting in lower revenue and profit well below the sales plan.」

「Crab prices plunged following the U.S. ban on imports of Russian products. Shrimp prices fell and profit margins declined as improvements in overseas container logistics led to the bulk arrival of cargo that had been held up since the summer.」

「Crab prices fell due to the situation in Ukraine, while higher demurrage costs resulting from China's lockdowns weighed on profit. Seafood products overall nevertheless recorded higher revenue and profit.」

「Crab prices fell due to the situation in Ukraine, weighing on earnings, but seafood products overall recorded higher revenue and profit.」

「Potatoes and onions recorded higher revenue and profit as unit prices rose due to poor harvests, improving profit margins.」

「As global prices for major products such as salmon and trout, shrimp and crab rose, seafood products recorded higher revenue and profit as the company pursued sales focused on profitability.」

「Accordingly, in addition to diversifying procurement sources by developing new suppliers and production sites and strengthening the aquaculture business, we are optimizing inventories to diversify risk.」

「The Norwegian aquaculture business recorded lower profit because product unit prices declined amid reduced demand in Europe and the United States following the spread of COVID-19, while production costs increased in connection with sea-lice removal.」

「The Norwegian aquaculture business recorded lower revenue and profit because production adjustments to control sea lice reduced harvest volumes, while the COVID-19 pandemic lowered product unit prices.」

「Seafood products recorded lower revenue but higher profit. Mackerel, whose handling volumes declined due to poor catches, and eel and crab, whose prices fell, recorded lower revenue and profit.」

「Atka mackerel and squid generated higher profit as their profit margins recovered. Salmon and trout recorded lower profit as handling volumes were curtailed, while eel recorded lower profit as prices fell following a strong glass eel catch, and mackerel recorded lower profit as handling volumes declined due to poor catches.」

「Atka mackerel and squid generated higher profit as inventories were worked down. However, salmon and trout recorded lower profit due to falling prices caused by higher domestic inventories, while mackerel also recorded lower profit as handling volumes declined because of poor catches in major domestic production areas and the easing of the canned-food boom. Falling eel prices following a strong glass eel catch and losses on crab sales, as inventories were not worked down sufficiently, also weighed on profit.」

「A decline in salmon and trout prices due to higher domestic inventories and a sharp fall in crab prices were major factors behind substantial declines in both revenue and profit.」

「Shrimp, whose profit margins recovered, and mackerel, which performed well in exports, generated higher profit. Squid, Atka mackerel and rockfish, for which losses on sales were recorded, showed signs of earnings recovery but nevertheless recorded a substantial full-year decline in profit.」

「Seafood products recorded lower revenue and profit. Mackerel for export and shrimp, whose profit margins recovered, generated higher profit and contributed to earnings. Squid earnings recovered but profit remained lower because cumulative losses were not fully offset. Atka mackerel also recorded lower profit due to losses on sales.」

「Seafood products recorded lower revenue and profit. Mackerel for export and domestic markets and crab purchased at an opportune time contributed to earnings, but losses on the sale of squid and Atka mackerel caused profit margins to deteriorate.」

「Squid, for which poor catches drove up prices and reduced demand, and products such as Atka mackerel, whose profit margins declined substantially, weighed on earnings.」

「For shrimp, squid and crab, whose prices remained high, the company could not pass higher purchase prices through to selling prices, squeezing profit and weighing on earnings.」

「For shrimp, squid and crab, whose prices remained high, the company could not pass higher costs through to selling prices, squeezing profit and weighing on earnings.」

「The business operated in a difficult environment in which high market prices for core products caused cargo movements to stagnate.」

「Scallops and crab became less profitable due to the impact of surging prices.」

「Profit margins declined for crab, where high prices have continued, and scallops, whose production volume fell sharply due to poor weather conditions.」

「Profit margins declined for crab, where high prices have continued, and scallops, which were affected by poor weather conditions.」

「We determined that an approach at the production stage was necessary to mitigate fish price volatility risk, and therefore acquired all shares of Fjordlaks Aqua AS (hereinafter, Fjordlaks Aqua Co.), a leading aquaculture company.」

「We determined that an approach at the production stage was necessary to mitigate fish price volatility risk, and therefore acquired all shares of FA Co., a leading aquaculture company.」