Fluctuations in seafood arrivals, prices and foreign exchange rates

「During the interim consolidated accounting period, sales of Pacific saury and frozen processed products remained strong, and sales increased year on year. However, operating profit declined year on year, partly due to higher raw material prices.」

「Although landings of fresh fish were unstable, higher volumes of frozen products handled lifted segment sales to ¥140,579 million, up 9.3% year on year. Segment profit rose to ¥2,002 million, up 51.5%, as sales to business customers, centred on products such as tuna, shrimp and crab, were strong.」

「During the interim consolidated accounting period, the volume of fresh fish handled was approximately at the previous year's level, while sales of frozen processed products such as shrimp and crab remained strong. Both sales and operating profit increased year on year.」

「Catches of wild seafood have declined substantially, and although seafood prices have risen sharply due in part to intensifying competition to purchase supplies amid stronger international demand, the volume handled has declined.」

「During the nine-month period ended 31 December, unit prices increased, but sales fell to ¥99,976 million, down 1.2% year on year, due to lower sales volume. Segment profit fell to ¥968 million, down 8.5%, due in part to lower market prices for tuna, scallops and other products.」

「During the six-month period ended 30 September, unit prices increased, but sales fell to ¥59,824 million, down 2.5% year on year, due to lower sales volume. Segment profit fell to ¥441 million, down 35.5%, due in part to lower market prices for tuna, scallops, fish roe and other products.」

「In the seafood wholesale business, the Group's core business, unit prices increased, but the volume handled declined due to lower landings of wild popular fish and other species, leaving sales approximately at the previous year's level. Margins declined due to factors including lower market prices for certain species and higher import costs caused by the weaker yen.」

「In addition, the volume of seafood handled at wholesale markets declined year on year due to the impact of poor catches believed to have resulted from changes in fishing seasons and fishing grounds caused by declining fishery resources and changes in seawater temperatures.」

「Although prices for some seafood products fell sharply in the second half of December due to excess inventories across the industry, unit prices for seafood overall were high. As a result, sales volume declined from the previous corresponding period, but sales and operating profit increased.」

「During the six-month period ended 30 September, sales volume declined, but the impact of higher unit prices contributed to sales of ¥61,360 million, up 18.0% year on year, and segment profit of ¥684 million, up 204.9%.」

「During the three-month period ended 30 June, sales volume declined, but the substantial increase in unit prices lifted sales to ¥30,638 million, up 18.9% year on year, and segment profit to ¥453 million, up 515.9%.」

「In the seafood wholesale business, the Group's principal business, the volume of seafood arriving at the market and its prices may fluctuate substantially, both on the procurement and sales sides, due to factors including changes in catches resulting from natural conditions such as weather and ocean currents, catch restrictions and import and export restrictions on fishery resources, supply and demand trends, overseas conditions and foreign exchange rates.」

「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.」

「In the seafood wholesale business, prices rose sharply due to poor catches of certain species and higher seafood prices reflecting strong overseas markets.」

「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 the seafood wholesale business, the Group's principal business, the volume of seafood arriving at the market and its prices may fluctuate substantially, both on the procurement and sales sides, due to factors including changes in catches resulting from natural conditions such as weather and ocean currents, catch restrictions and import and export restrictions on fishery resources, supply and demand trends, and foreign exchange rates.」

「As a measure in response, we will build closer relationships with customers, including shippers nationwide, while diversifying seafood suppliers, including by developing overseas shippers and purchasing sources, to minimise the impact.」

「During the nine-month period ended 31 December, the business was affected by poor catches resulting from unfavourable weather and other factors. However, gross profit margins were improved and selling, general and administrative expenses were reduced. Sales were ¥143,996 million, down 0.8% year on year, while segment profit was ¥327 million, compared with a segment loss of ¥340 million in the previous year.」

「In the seafood wholesale business, volumes of farmed yellowtail, horse mackerel and dried whitebait increased, but sales fell to ¥88,749 million, down 1.7% year on year, as volumes of tuna species such as frozen bigeye and frozen Indian tuna, as well as salmon roe and Pacific saury, declined.」

「In the seafood wholesale business, arrivals of horse mackerel, yellowtail and dried whitebait were solid, but volumes of bonito, Japanese flying squid, sablefish and frozen shrimp declined. Sales were ¥45,335 million, down 0.1% year on year, while segment profit was ¥80 million, compared with a segment loss of ¥26 million in the previous year, due to higher gross profit resulting from improved margins and lower selling expenses and other costs.」

「The seafood wholesale business accounted for most of the decline in sales. The decline resulted from tighter supply and demand conditions as catches fell while global demand for fish increased.」

「Although sales of key products from autumn through year-end, including Pacific saury, domestically farmed bluefin tuna, dried whitebait and domestic sea urchin, were strong, sales fell to ¥149,636 million, down 2.8% year on year, as volumes handled of imports such as frozen salmon and frozen shrimp, as well as domestic salmon roe, declined.」

「In the seafood wholesale business, landings of the seasonal product Pacific saury were strong and domestic tuna also increased. However, sales fell to ¥90,297 million, down 4.1% year on year, as volumes handled of bonito, frozen salmon and frozen shrimp declined. Operating results were a loss of ¥171 million, compared with a loss of ¥139 million in the previous year.」

「Sales in the seafood wholesale business fell to ¥45,392 million, down 5.9% year on year, due to lower volumes of seasonal products such as bonito and imported seafood. Although collection and selling expenses declined, operating results were a loss of ¥26 million, compared with a profit of ¥27 million in the previous year, due to lower gross profit.」

「Although unit prices rose, mainly for imported products such as salmon roe, frozen chum salmon and frozen bigeye tuna, the volume handled for the consolidated fiscal year as a whole fell slightly below the previous year due to lower arrivals from Japan and overseas. Sales were ¥194,131 million, down 0.6% from the previous consolidated fiscal year, while the segment recorded a loss of ¥23 million, compared with profit of ¥109 million, due to higher provision for doubtful accounts, outsourcing fees and other expenses.」

「In the seafood wholesale market industry, in which the Group operates its core business, sea urchin, pufferfish and tuna prices were soft during the year-end period, the year's largest sales season. However, prices rose sharply for fish roe, particularly salmon roe, as well as scallops and snow crab, and sales therefore remained approximately at the previous year's level.」

「In the seafood wholesale business, although landings of seasonal products such as Pacific saury, autumn salmon and bonito were poor, higher unit prices for frozen seafood lifted sales to ¥94,168 million, up 2.2% year on year. However, operating results were a loss of ¥139 million, compared with a profit of ¥195 million in the previous year, due to higher general and administrative expenses and other factors.」

「In the seafood wholesale business, although imports and other imported seafood declined, the volume handled remained approximately at the previous year's level due in part to an increase in domestic seasonal products. Sales were ¥48,244 million, up 4.3% year on year, while operating profit was ¥27 million, down 89.4%, due mainly to lower gross profit resulting from a decline in profit margins.」

「In the seafood wholesale market industry, in which the Group operates its core business, landings of coastal species such as squid and yellowtail declined during the year-end period, the year's largest sales season. However, prices rose sharply, particularly for key year-end products such as sea urchin, pufferfish and crab, and sales therefore remained at approximately the previous year's level.」

「Sales were ¥92,106 million, down 1.6% year on year, due in part to poor landings of popular fish such as Pacific saury, autumn salmon and Japanese flying squid, which are seasonal products affected by changes in weather and climate in recent years.」

「In the seafood wholesale market industry, in which the Group operates its core business, landings of domestically caught seafood remained unstable from early spring, while supplies of imported fish such as chilled silver salmon and tuna were also weak. As a result, sales fell below the previous year, and the operating environment has become increasingly challenging ahead of the relocation to Toyosu Market.」

「In the seafood wholesale business, the Group's principal business, the volume of seafood arriving at the market and its prices may fluctuate substantially due to factors including changes in catches resulting from natural conditions such as weather and ocean currents, catch restrictions and import and export restrictions on fishery resources, supply and demand trends, and foreign exchange rates.」