Shrinking domestic demand for fishery products due to population decline, population aging and declining fish consumption

「物価上昇が継続する中、生活防衛意識や節約志向が強まり、個人消費は力強さを欠く状況が続きました。」

「Rising prices have made consumers' purchasing behavior more cautious and prudent, leading them toward planned purchases aligned with a more deliberate view of value. Heightened awareness of protecting household finances has also entrenched both frugality and selective spending.」

「気候変動に伴う海洋環境の変化が漁獲量の減少に大きな影響を及ぼし、魚の再生産能力を超えるスピードで繰り広げられている国際的な漁業競争によって水産物の国内流通量は減少傾向にあります。」

「The challenging business environment continues as the weaker yen and increased overseas demand drive imported raw material prices higher without respite, further strengthening consumers' concerns about high prices.」

「Products for commercial customers continued to perform well, while products for overseas markets other than China also performed steadily.」

「In the seafood wholesale business, the Group's core business, products for commercial customers performed well against a backdrop of strong inbound demand, while products for overseas markets other than China also performed steadily.」

「In the seafood wholesale business, the Group's core business, products for commercial customers performed well as foodservice and inbound demand recovered, while products for overseas markets other than China also performed steadily, aided by the weaker yen.」

「As life gradually returned to pre-pandemic norms, activity returned to tourist destinations and foodservice demand recovered, resulting in firm performance for products sold to commercial customers.」

「Economic activity normalized as a result of the government's nationwide travel support program and the easing of entry restrictions, among other factors, and products for commercial customers remained firm.」

「Although some slowdown in the flow of goods was seen during the seventh wave of COVID-19, foodservice demand gradually recovered as economic activity normalized.」

「In the seafood wholesale business, the Group's core business, the normalization of economic activity following the expansion of COVID-19 vaccinations and the easing of measures to restrict population movement made the flow of goods more active, and demand for high-priced products among commercial customers recovered in particular.」

「Demand for at-home dining remained firm, and foodservice demand began to recover gradually, but the new lifestyle established among consumers as a result of COVID-19 is expected to require considerable time to return to pre-pandemic levels.」

「In the seafood wholesale business, the Group's core business, demand for high-priced products among commercial customers remained sluggish despite solid demand for at-home dining amid prolonged requests to refrain from going out, while the decline in catches of certain fish species due to changes in their migratory waters also had a significant impact. In the seafood sales business, the foodservice and tourism industries continued to face severe restrictions, resulting in an unprecedented business environment.」

「In the seafood wholesale business, the Group's core business, some stay-at-home demand increased, but negative factors remained significant, including lower sales to commercial customers due to slower distribution of high-priced products. In the seafood sales business, the impact of measures to restrict population movement on the foodservice and tourism industries continued for an extended period, leaving the business environment challenging.」

「In addition to declining catches resulting from changes in the marine environment, market prices fell due to the slowdown in the distribution of high-priced products and farmed fish caused by measures to prevent the spread of COVID-19. Furthermore, the temporary suspension of the Go To campaign following the reissuance of the state of emergency meant that the tourism and foodservice industries failed to recover, resulting in lower revenue.」

「Although some increase in stay-at-home demand was seen, demand for seafood from commercial customers fell substantially. A challenging business environment also continues due to stagnant imports and exports and the sharp decline in catches of certain fish species resulting from changes in the marine environment.」

「Although some increase in demand for at-home dining was seen as people increasingly refrained from going out, the negative impact on the foodservice industry was greater, and the challenging business environment continues.」

「Sales to the foodservice industry fell sharply due to requests to refrain from going out and to shorten business hours aimed at preventing the spread of COVID-19, and the challenging business environment continues. As a result, operating results for the first quarter of the current consolidated cumulative period included revenue of ¥8,434 million, down ¥3,111 million (△26.9%) from the first quarter of the previous consolidated cumulative period,」

「Regarding the Group's operating results for the fiscal year, the decline in revenue was attributable to factors including the sharp fall in catches resulting from changes in the marine environment and the significant impact on sourcing from a succession of large typhoons designated as severe disasters, as well as the downturn in the foodservice industry caused by the spread of COVID-19.」

「While corporate earnings and the employment and income environment continue to improve, there are also concerns about an economic downturn following the consumption tax increase from October last year.」

「Personal consumption is also expected to weaken as a result of the consumption tax increase from October, and an uncertain outlook continues.」

「A challenging business environment continues, due not only to consumers' entrenched preference for low prices but also to the impact of higher transaction prices accompanying increased global demand for fisheries resources and rising logistics costs.」

「Declining seafood consumption as the population continues to fall amid the full-scale decline in the birth rate and the advent of a super-aged society」

「In the seafood wholesale business, the Group's core business, the challenging business environment continues due to declining fisheries resources resulting from the growth of fish consumption overseas, unfavorable weather and other factors, increased off-market distribution, and consumers' preference for frugality and shift away from fish consumption.」

「Fisheries resources are declining due to fishing restrictions in various countries and increased demand accompanying the growth of fish consumption overseas. A challenging business environment also continues due to the increase in off-market distribution, consumers' continued preference for frugality, and the ongoing shift away from fish consumption.」

「In our Group’s core seafood wholesaling business, a difficult business environment continues, due to the increase in off-market distribution accompanying intensifying competition, declining seafood resources, weakening consumer sentiment, and the growing manifestation of declining consumption of fish, among other factors.」

「Consumers’ preference for low prices, inclination to economize, and declining consumption of fish continue. In addition, the consumer market has contracted further due to the declining birthrate and aging population and the shift toward single-person meals, while seafood consumption has continued to decline.」