Fluctuations in Catch Volumes, Incoming Supply and Seafood Market Conditions

「国内の水揚げ量についてはカツオなど一部魚種で増加しましたが、サンマは前年を大きく下回るなど、全体としては低調な状況となりました。」

「Landings of fresh seafood improved for some species, including saury and squid, but remained weak for other species throughout the year.」

「During the interim consolidated accounting period, the seafood distribution industry saw higher catches of some species, including saury and tuna, while conditions for other species remained weak.」

「Within the fresh fish business of the market operations division, the effects of rising seawater temperatures associated with climate change and other factors have continued, and catch volumes have continued to decline.」

「Within the fresh fish business of the market operations division, handling value declined mainly for common wild fish such as mackerel, sardines and squid, while farmed fish, including red sea bream, tuna and greater amberjack, remained solid.」

「In the seafood distribution industry, consumption, particularly in the food-service sector, began to recover as the number of visitors to Japan increased and various events resumed. However, the sales environment remains difficult: catches of wild fish have remained low, while the weaker yen has kept fish prices high, and consumers have become increasingly focused on conserving household finances amid changes in lifestyles and rising prices. In addition, China's import ban on Japanese seafood remains in place, and the outlook continues to be uncertain.」

「In terms of sales conditions, fish prices have remained high because catches of wild fish have stayed low and the weaker yen has also had an impact. Consumers have become increasingly conscious of protecting their household finances amid changes in lifestyles and rising prices.」

「Sales of sashimi products, particularly tuna and yellowtail, were relatively solid. However, catches of wild common fish such as horse mackerel, Japanese flying squid and Spanish mackerel declined, while supplies of farmed fish, including red sea bream, decreased because of soaring feed costs, lower inventories in farms and other factors.」

「Catches of common fish such as saury, mackerel and squid remained low, while supplies of fresh seafood declined because inventories of farmed fish, including yellowtail, tuna and red sea bream, also decreased.」

「Supplies of wild seafood, including saury, mackerel and whitebait, declined because catches remained low due to climate change and other factors. Supplies of farmed fish, including yellowtail and red sea bream, also declined because inventories in farms decreased. For imported seafood, prices for some species, including crab, fell because consumption did not progress, but overall fish prices remained in a high range.」

「In the seafood distribution industry, fish prices have remained high because of declining natural seafood resources, lower inventories of farmed fish, higher logistics costs, the recovery of personal consumption in overseas markets and the continued depreciation of the yen.」

「In addition to declining natural seafood resources and higher logistics costs, the recovery of personal consumption in other countries and the widening interest-rate differential between Japan and the United States accelerated the depreciation of the yen. Fish prices consequently remained at high levels, resulting in extremely challenging business conditions.」

「Regarding product supply, prices rose because catches of key products, including saury and squid, remained low and inventories of farmed fish, including farmed yellowtail and red sea bream, declined. Overseas demand for imported seafood also remained strong, while the yen’s depreciation, lower operating rates at overseas processing plants due to COVID-19 and sharply higher ocean freight rates caused by the global container shortage kept prices for salmon, shrimp, crab, surimi and other seafood high.」

「Farmed yellowtail, a major species, remained expensive because of lower catches of mojako, its juvenile fish, while farmed red sea bream also remained expensive because of lower inventory in farms. Among wild fish, the start of the saury fishing season was later than usual and catches were also sluggish. In addition, prices for imported frozen fish, including salmon, shrimp and octopus, rose sharply overall because of recovering overseas demand and the closure of overseas processing plants caused by COVID-19, among other factors.」

「Procurement costs continued to rise, partly because of stronger international demand for seafood, while domestic market activity was sluggish due to lower catch volumes, the effects of a mild winter and other factors.」

「The Seafood Sales business was affected by COVID-19 throughout the nine-month period of the third quarter of the fiscal year under review. Products for home consumption performed well as stay-at-home consumption increased, while sales of farmed red sea bream, other high-priced wild fresh fish and products for the food-service industry were sluggish. In particular, the first quarter was characterized by extremely difficult sales conditions because of the impact of restrictions on various economic activities following the first state of emergency. Although signs of recovery emerged from the second quarter onward, catches of blue-backed fish, including saury, which had been expected to be key products, were poor in the second quarter. In the third quarter, banquet demand in the Keihanshin area declined substantially as restrictions were again requested amid a sharp increase in infections. Although demand for food consumed at home during the year-end and New Year period, including crab, was stronger than usual, it was not enough to offset the decline in food-service demand. As a result, revenue amounted to ¥89.079 billion, down ¥7.974 billion year on year, and segment profit amounted to ¥29 million, down ¥404 million year on year.」

「Although the impact of COVID-19 had passed its peak during the state of emergency, the Seafood Sales business continued to face difficult sales conditions, particularly for farmed red sea bream and high-priced wild fresh fish, as in the previous quarter. Sales of blue-backed fish, including saury, which had been expected to be key products in the second quarter, were also sluggish because of poor catches and other factors. As a result, revenue amounted to ¥53.970 billion, down ¥6.289 billion year on year, and the segment recorded a loss of ¥370 million, compared with segment profit of ¥61 million in the same period of the previous year, partly because an allowance for doubtful accounts was recorded as described above.」

「In the Seafood Sales business, overseas sales remained firm, while domestic sales continued to face difficult conditions even after the impact of COVID-19 had passed its peak during the state of emergency. Sales to mass retailers were solid on stronger demand for food consumed at home, but sales to food-service restaurants, hotels and ryokan declined substantially. The impact was particularly significant for high-priced products, resulting in revenue of ¥26.195 billion, down ¥4.797 billion year on year, and a segment loss of ¥61 million, compared with segment profit of ¥63 million in the same period of the previous year.」

「Procurement costs continued to rise, partly because of stronger international demand for seafood, while domestic market activity was sluggish due to lower catch volumes, the effects of a mild winter and other factors. Although demand for food consumed at home increased because of the spread of COVID-19 toward the fourth quarter, demand from the food-service industry declined substantially, resulting in a difficult operating environment.」

「In the seafood distribution industry, we faced challenging business conditions as global demand for seafood continued to grow, while domestic cargo movement remained sluggish due to lower catches, the effects of a warm winter and other factors.」

「Revenue in the Seafood Sales business amounted to ¥60.259 billion, down ¥955 million year on year, as domestic sales were sluggish due to unstable catch volumes caused by unfavorable weather and other factors and poor catches of blue-backed fish, including saury, which had been expected to be key products in the second quarter. Segment profit declined by ¥73 million year on year to ¥61 million, reflecting lower gross profit, higher logistics costs and other factors.」

「The Seafood Sales business faced difficult sales conditions due to persistently high prices for imported products, and revenue declined by ¥202 million year on year to ¥30.993 billion, although it was maintained broadly at the level of the previous year. Profitability was affected by higher logistics costs and other factors, with segment profit declining by ¥44 million year on year to ¥63 million.」

「The seafood distribution industry faced difficult conditions, with market activity remaining sluggish, including lower catch volumes due to unfavorable weather and other factors. Procurement prices were rising amid stronger international demand for seafood, while domestic demand continued to struggle.」

「In the seafood sales business, overseas sales performed steadily, while domestic sales were sluggish due to unstable catches caused by adverse weather, natural disasters and other factors, as well as persistently high prices for imported and farmed products, resulting in revenue of ¥99.245 billion, down ¥559 million year on year, and」

「In the seafood sales business, domestic sales were sluggish due to unstable catches caused by adverse weather, natural disasters and other factors, as well as persistently high prices for imported and farmed products. However, overseas sales performed steadily, resulting in revenue of ¥61.214 billion, up ¥204 million year on year.」

「Domestic sales were sluggish in the Seafood Sales business because of unstable catch volumes caused by unfavorable weather and other factors and persistently high prices for imported and farmed products, while overseas sales remained firm, resulting in revenue of ¥31.195 billion, up ¥480 million year on year.」

「In the seafood sales business, overseas sales performed steadily, while domestic sales were sluggish due to unstable catches caused by adverse weather and other factors and consumers' preference for lower prices and thrift, resulting in revenue of ¥99.804 billion, down ¥322 million year on year, and」

「Revenue in the Seafood Sales business amounted to ¥61.009 billion, down ¥389 million year on year, as overseas sales remained firm while domestic sales were sluggish due to unstable catch volumes caused by unfavorable weather and other factors and consumers’ preference for low prices and thrift,」

「While overseas sales performed steadily, domestic sales were sluggish due to consumers' preference for lower prices and thrift, among other factors, resulting in ¥30.714 billion, down ¥250 million year on year, and」

「Revenue in the Seafood Sales business amounted to ¥130.112 billion, down 4.5% from the previous fiscal year, affected by weaker consumption due to consumers’ preference for low prices and thrift and unstable catch volumes caused by unfavorable weather and other factors.」

「Revenue in the Seafood Sales business amounted to ¥100.127 billion, down ¥4.688 billion year on year, affected by consumers’ preference for low prices and thrift and unstable catch volumes caused by unfavorable weather and other factors,」

「Sales in the Seafood Sales business amounted to ¥61.399 billion, down ¥3.596 billion year on year, as domestic sales were sluggish due to unstable catch volumes caused by unfavorable weather and other factors and consumers’ preference for low prices and thrift, while exports also declined because of the rapid appreciation of the yen and other factors,」

「Sales amounted to ¥30.965 billion, down ¥2.012 billion year on year, due to sluggish domestic sales reflecting consumers’ preference for low prices and thrift, as well as a decline in exports caused by the rapid appreciation of the yen and other factors,」

「Fluctuations in catch volumes due to weather and other natural conditions, declines in production capacity in producing regions caused by major natural disasters and other events, consumers refraining from purchases because of marine pollution and other impacts, catch restrictions for resource conservation, export restrictions imposed by other countries, policy-driven import restrictions, supply and demand trends, exchange rates and other factors may adversely affect the business, financial condition and results of operations of the Group.」