Increasing Value Added, Diversifying Markets and Globalizing the Food Business

「一方、利益面では、円安の長期化による仕入コストの高止まりが続く中、市場の価格競争の激化により価格調整が限定的となったことで利益は減少しました。」

「Although sales volumes of frozen seafood products, where sluggish consumption due to high raw material costs continued, fell below the previous fiscal year, frozen vegetables and frozen prepared foods offset the decline through growth in thaw-and-serve products and convenience-oriented products addressing labor shortages. Total sales volume exceeded the previous fiscal year, resulting in higher revenue. On the profit side, despite exchange-rate fluctuations throughout the year, flexible price adjustments maintained stable margins and increased profit.」

「Sales volumes increased across frozen vegetables, frozen prepared foods and frozen seafood products, resulting in higher revenue. Profitability also recovered and profit increased substantially as higher revenue and the selling price adjustments implemented in the previous fiscal year contributed to results.」

「On the profit side, higher procurement costs caused by the unexpectedly prolonged weaker-yen trend had a significant impact, as did higher logistics costs. Although the company proceeded with selling price adjustments, profit declined.」

「The company worked to adjust selling prices in response to higher procurement costs caused by a prolonged weaker yen that exceeded expectations, but the contribution during the period was limited, and profit fell substantially.」

「Revenue and profit increased substantially as the effect of applying selling prices adjusted in the previous fiscal year in response to the sharp increase in procurement costs continued for a certain period.」

「In the Group's frozen food business, we continued to focus on sales to medical and long-term care facilities and other channels with stringent quality-control requirements by leveraging our quality-control systems. We demonstrated the strength of a stabilized supply chain from production through logistics management to capture recovering demand across a broad range of business formats. Sales volumes of frozen prepared foods recovered, while the decline in frozen vegetables and frozen seafood products was minimized. In addition, the effect of applying selling prices adjusted in the previous fiscal year in response to the sharp increase in procurement costs continued for a certain period, resulting in substantial increases in both revenue and profit across all products.」

「In the Group's frozen food business, we continued to focus on sales to medical and long-term care facilities and other channels with stringent quality-control requirements by leveraging our quality-control systems. We demonstrated the strength of a stabilized supply chain from production through logistics management to capture recovering demand across a broad range of business formats. Sales volumes of frozen seafood products recovered, while the decline in frozen vegetables and frozen prepared foods was minimized. In addition, the effect of applying selling prices adjusted in the previous fiscal year in response to the sharp increase in procurement costs contributed to substantial increases in both revenue and profit across all products.」

「Revenue and profit increased substantially across all frozen vegetables, frozen prepared foods and frozen seafood products.」

「Efforts to stabilize the supply chain from production through logistics management and phased adjustments to selling prices in response to higher procurement costs contributed to substantial increases in both revenue and profit across frozen vegetables, frozen prepared foods and frozen seafood products.」

「Under these conditions, in the Group's frozen food business, we continued to focus on sales to medical and long-term care facilities and other channels with stringent quality-control requirements by leveraging our quality-control systems. We also worked to stabilize the supply chain from production through logistics management to capture recovering demand. The phased adjustment of selling prices in response to higher procurement costs also contributed, and sales increased across frozen vegetables, frozen prepared foods and frozen seafood products.」

「Under these conditions, in the Group's frozen food business, we continued to focus on sales to medical and long-term care facilities and other channels with stringent quality-control requirements by leveraging our quality-control systems. We also worked to stabilize the supply chain from production through logistics management to capture recovering demand, and adjustments to selling prices in response to higher procurement costs contributed to results. Sales increased across frozen vegetables, frozen prepared foods and frozen seafood products. However, although the company continued to respond as needed to the sharp increase in procurement costs, profit declined because procurement costs continued to rise as the yen weakened further.」

「Although the company has been responding as needed to the sharp increase in procurement costs, the increases have not yet been fully reflected in selling prices, and profit fell substantially. Consequently, the food-related business recorded revenue of ¥7,430 million, up 16.4% year on year, and segment profit of ¥253 million, down 17.6%.」

「On the profit side, results continued to be affected by the weaker yen, higher logistics costs including overseas freight and higher raw material costs for frozen vegetables. The impact was particularly significant in the fourth quarter, and profit fell substantially. Consequently, the food-related business recorded revenue of ¥26,412 million and segment profit of ¥1,072 million.」

「Under these conditions, in the Group's frozen food business, we continued to focus on sales to medical and long-term care facilities and other channels with stringent quality-control requirements in an aging market, while strengthening efforts to expand sales channels and address at-home demand by leveraging our quality-control systems, product range and detailed delivery services. Sales of frozen prepared foods and frozen seafood products increased, but sales of frozen vegetables declined due to weak demand, resulting in a slight decrease in revenue. Although the company proceeded with adjustments to selling prices, profit fell significantly due to higher logistics costs, including overseas freight, and higher raw material costs for frozen vegetables.」

「While continuing to focus on sales to medical and long-term care facilities and other channels with stringent quality-control requirements in an aging market, the company strengthened efforts to expand sales channels and address at-home demand by leveraging its quality-control systems, product range and detailed delivery services. As a result, sales of frozen prepared foods and frozen seafood products increased slightly.」

「Under these conditions, in the Group's frozen food business, we continued to focus on sales to medical and long-term care facilities and other channels with stringent quality-control requirements in an aging market. We also strengthened efforts to expand sales channels and address at-home demand by leveraging our strengths in quality-control systems, product range and detailed delivery services. As a result, sales of frozen vegetables, frozen prepared foods and frozen seafood products all increased, while expense reductions associated with inventory reductions and other measures drove increases in both revenue and profit.」

「Sales of frozen vegetables and frozen prepared foods to mass retailers increased. On the profit side, the company focused on reducing expenses through inventory reductions and other measures, but the impact of lower sales to foodservice operators and institutional catering was significant, resulting in declines in both revenue and profit overall.」

「The environment surrounding imported food ingredients in the food industry saw at-home demand increase as COVID-19 spread, while demand declined across a broad range of areas, including school meals, institutional catering and foodservice. In a contracting market, products remained in inventory and price competition intensified further. Under these conditions, in the Group's frozen food business, sales of frozen vegetables, frozen prepared foods and frozen seafood products for foodservice uses such as hotels and restaurants, as well as for institutional catering, declined but showed signs of improvement, as the impact of the spread of COVID-19 remained significant. The Group also strengthened efforts to expand sales channels by leveraging its strengths in quality-control systems, product range and detailed delivery services. Frozen vegetables for mass retailers grew significantly in response to rising at-home demand, and the Group also focused on sales to medical and long-term care facilities in an aging market and to channels with stringent quality-control requirements. However, the impact from foodservice operators and institutional catering was significant, resulting in declines in both revenue and profit overall. Consequently, revenue in the food-related business was ¥19,328 million, down 11.2% year on year, and segment profit was ¥1,007 million, down 17.2%.」

「Frozen vegetables for mass retailers grew significantly in response to rising at-home demand, and the company also focused on sales to medical and long-term care facilities in an aging market and to channels with stringent quality-control requirements. However, the significant impact from foodservice operators and institutional catering resulted in declines in both revenue and profit overall.」

「Under these conditions, in the Group's frozen food business, we focused on sales to medical and long-term care facilities in an aging market and to channels with stringent quality-control requirements, as well as sales to mass retailers, which had performed relatively well, leveraging our strengths in quality-control systems, product range and detailed delivery services. However, the business was significantly affected by the spread of COVID-19. Revenue in the food-related business was ¥6,041 million, down 16.2% year on year, and segment profit was ¥245 million, down 35.1%.」

「In frozen prepared foods, sales increased through new product launches, stronger consultative sales to mass retailers and efforts to secure market share. Profitability improved through higher volumes, despite increases in raw material and logistics costs.」

「Although volumes for some products declined, revenue from frozen vegetables increased as the company strengthened efforts to secure market share on the back of its quality and reliable supply capabilities, while increasing the proportion of higher-priced products handled. Profitability also improved despite intensified price competition and higher production and logistics costs, as tighter management of selling prices and logistics proved effective. In frozen prepared foods, sales grew significantly through new product launches, stronger consultative sales to mass retailers and efforts to secure market share.」

「Although volumes for some products declined amid an expanding frozen vegetable market, revenue increased as the company strengthened efforts to secure market share and raised the proportion of higher-priced products handled. Profitability also improved slightly through higher revenue, despite lower margins due to intensifying price competition and higher production and logistics costs. In frozen prepared foods, sales grew significantly as demand for shorter and simpler meal preparation accelerated, supported by new product launches, consultative sales to mass retailers and efforts to secure market share. Profitability improved through higher volumes, despite increases in raw material and logistics costs.」

「Although volumes for some products declined amid an expanding frozen vegetable market, revenue increased as the company strengthened efforts to secure market share and raised the proportion of higher-priced products handled. Profitability deteriorated as intensifying price competition reduced margins, while higher production and logistics costs also weighed on results.」

「As demand for shorter and simpler meal preparation accelerated, consultative sales to foodservice operators and mass retailers and new product development proved effective, driving a significant increase in sales of frozen prepared foods. Profitability also improved despite intense price competition.」

「Sales volume of frozen vegetables grew as the market trended upward, supported by initiatives to secure market share and the impact of higher prices for fresh vegetables resulting from unseasonable weather. However, profitability deteriorated as intense price competition reduced margins and logistics costs increased. In frozen prepared foods, proposal-based sales to the food-service and mass-retail sectors proved successful amid the accelerating trend toward faster and more convenient meal preparation, driving substantial growth in sales volume. Profitability also improved despite intense price competition.」

「In the agricultural business, peanuts remained sluggish, but sales volume of nuts grew substantially and profitability improved as the expanding market and proactive proposal-based sales proved successful.」

「Sales volume of frozen vegetables grew as the market trended upward, supported by initiatives to secure market share and the impact of higher prices for fresh vegetables resulting from unseasonable weather, and profitability also improved. In frozen prepared foods, proposal-based sales to the food-service and mass-retail sectors proved successful amid the accelerating trend toward faster and more convenient meal preparation, driving substantial growth in sales volume. Profitability also improved despite intense price competition. In frozen processed seafood, sales volume grew as the product lineup was expanded, including high-value-added products, but profitability deteriorated as margins fell substantially due to higher raw-material prices.」

「Under these conditions, the Group’s frozen-food business focused on sales to medical and nursing-care facilities serving an aging market and to channels with stringent quality-control requirements, leveraging its strength in quality control. As a result, sales volume of frozen vegetables grew as the market trended upward, supported by initiatives to secure market share, but profitability deteriorated due in part to foreign-exchange effects and higher logistics costs. In frozen prepared foods, we continued initiatives to expand market share, including new product launches, and proposal-based sales to the food-service and mass-retail sectors proved successful, driving growth in sales volume. Profitability also improved despite intense price competition. In frozen processed seafood, sales volume grew as the product lineup was expanded, including high-value-added products.」

「In frozen prepared foods, we continued initiatives to expand market share, including the launch of new products. Proposal-based sales to the food-service and mass-retail sectors proved successful, driving growth in sales volume, and profitability improved despite intense price competition. In frozen processed seafood, we responded accurately to market fluctuations in raw-material procurement, while sales volume and profitability both grew as the product lineup was expanded, including high-value-added products.」

「Under these conditions, the Group’s frozen-food business focused on sales to medical and nursing-care facilities serving an aging market and to channels with stringent quality-control requirements, leveraging its strength in quality control. As a result, sales volume of frozen vegetables grew, but profitability deteriorated as margins declined. In frozen prepared foods, we continued initiatives to expand market share, and sales volume grew as proposal-based sales to the food-service and mass-retail sectors proved successful, resulting in improved profitability. In frozen processed seafood, we responded accurately to market fluctuations in raw-material procurement, and sales volume grew substantially as a result of an expanded product lineup, leading to a substantial improvement in profitability.」

「In the food-related business, we will deepen existing businesses and develop new products and customers to achieve further growth, while seeking to expand transactions in China and Southeast Asia.」

「Sales volume of frozen processed seafood also grew despite intense competition from other companies in the industry. Our ability to respond accurately to market conditions in procuring raw materials led to lower raw-material costs and improved profitability.」

「In the Group’s frozen-food business, frozen vegetables performed well overall, as our production and quality-control capabilities received high evaluations, particularly in markets for older people such as medical and nursing-care facilities. Sales volume also grew as products sourced from outside China, including Europe and Southeast Asia, increased, and profitability improved substantially. Sales volume of frozen prepared foods also increased, particularly for prepared foods sold by mass retailers, and profitability improved.」

「Frozen vegetables performed well overall, particularly in markets for older people, such as medical and nursing-care facilities, where our production and quality-control capabilities received high evaluations. The increase in products sourced from countries other than China also contributed, and profitability improved substantially.」

「In the food-related business, we will increase the proportion of high-value-added products while responding to diverse markets and pursuing global expansion.」