Decline in handling volumes of major frozen seafood products due to intensifying competition for overseas procurement
First written in FY2019-Q2. 5 of 8 entries say "Restated". Latest entry: FY2023.
0 other companies' latest entry also says "Restated".
- FY2023RestatedAnnual report
「The environment surrounding the marine products wholesale market has changed significantly, owing to declining catches of wild marine products, reduced arrivals of salmon, trout, roe and other products from Russia, intensifying procurement competition due to rising international demand for marine products, and diversification of marine product distribution outside wholesale markets. A flexible response is considered necessary.」
Declining catches of wild fish, lower arrivals from Russia, international procurement competition, and the diversification of distribution outside wholesale markets continue to be identified as changes in the procurement and sales environment. - FY2022WorsenedAnnual report
「The environment surrounding the marine products wholesale market has changed significantly, owing to declining catches of wild marine products, reduced arrivals of salmon, trout, roe and other products from Russia, intensifying procurement competition due to rising international demand for marine products, and diversification of marine product distribution outside wholesale markets. A flexible response is considered necessary.」
In addition to existing international procurement competition, a decline in arrivals of salmon, trout, fish roe and other products from Russia has been explicitly identified as a factor worsening procurement conditions. - FY2022-Q3RestatedAnnual report
「Under these circumstances, the marine products wholesale business, our group's core business, faced soaring prices for some wild-caught species due to poor catches caused by changes in fishing grounds believed to result from rising seawater temperatures and damage to fisheries from red tides. Prices of marine products also rose in line with strong overseas markets, and the arrival of imported products was delayed due to the effects of COVID-19. However, sales to the foodservice sector gradually recovered, while sales to mass retailers and overseas markets for premium products and other items continued to perform well.」
Higher seafood prices driven by strong overseas markets continue to be reported, and difficult procurement and sourcing conditions in international markets persist. - FY2022-Q2RestatedAnnual report
「There were higher prices due to poor catches of certain fish species, as well as higher seafood prices reflecting strong overseas markets.」
Higher seafood prices reflecting strong overseas markets continue to be identified as an existing source of volatility in the procurement and sales environment for major seafood products. - FY2022-Q1WorsenedAnnual report
「Margins declined due to higher raw material prices resulting from competition to purchase supplies from strong overseas markets, as well as a sharp increase in egg prices caused by avian influenza.」
In addition to the previous decline in handling volumes of major frozen seafood products, competition for overseas procurement has manifested itself in higher raw material market prices and lower profit margins. - FY2021RestatedAnnual report
「In the seafood wholesale business, the operating environment surrounding seafood wholesale markets has changed significantly, due to factors including declining catches of wild seafood, intensifying procurement competition resulting from growing international demand for seafood, and the diversification of seafood distribution outside wholesale markets.」
Declining catches of wild seafood, intensifying procurement competition due to rising international demand, and the diversification of distribution outside wholesale markets continue to be identified as business-environment factors. - FY2019-Q3RestatedAnnual report
「Due to a decline in handling volumes of imported products such as frozen salmon, net sales amounted to ¥145,211 million, down 2.8% year on year,」
The decline in handling volumes of imported products such as frozen salmon continued to be reconfirmed as a factor behind lower revenue in the seafood wholesale business. - FY2019-Q2MaterialisedAnnual report
「Handling volumes of frozen salmon, frozen shrimp and other major products declined due to intensifying competition for overseas procurement. In addition, unstable arrivals of fresh fish, particularly popular fish species, due to adverse weather conditions affected results, with net sales amounting to ¥93,127 million, down 4.1% year on year.」
Intensifying competition for overseas procurement was explicitly identified for the first time, and materialized as lower handling volumes of major frozen seafood products and a decline in Group-wide revenue.