Maruha Nichiro Corporation

1333

JP3876600002

Fishing & Farming

Market Closed - Japan Exchange Other stock markets 07:00:00 20/05/2024 BST			5-day change	1st Jan Change
3,214 ^JPY	+0.56%		-1.68%	+15.78%

03-25	Maruha Nichiro Corporation agreed to acquire a 9.9% stake in Kibun Foods Inc. for ¥2.8 billion	CI
03-21	AZ-COM MARUWA Holdings Inc. made an offer to acquire 99% stake Chilled & Frozen Logistics Holdings Co., Ltd. for ¥65.1 billion.	CI

Maruha Nichiro : Supplementary Materials of Financial Results for the 1st Quarter of the Fiscal Year Ending March, 2024

August 07, 2023 at 07:15 am

Supplementary Materials

Consolidated Financial Results for the 1st Quarter of Fiscal Year Ending March 2024

August 7, 2023

Maruha Nichiro Corporation （TSE：1333）

Business Overview for 1Q Ending March 2024

1st Quarter Financial Highlights

Net sales increased by 7.9% YoY due to continued high prices in the marine products market and the impact of price hikes of food products. Struggles in Marine Products Business Segment led to decrease of 2.3% YoY in operating income.

				(JPY in Billions)

		Year on year	Full year forecast
Jun/23	Jun/22
Change	%		1Q/Fyf

Net Sales	250.9	232.6	18.3	+7.9%	980.0	25.6%

Operating Income	7.7	7.9	-0.2	-2.3%	27.0	28.5%

Ordinary Income	11.2	12.2	-1.0	-7.9%	27.0	41.5%

Profit attributable to owners of parent	6.7	7.7	-1.0	-13.3%	18.5	36.0%

			Net Sales						Operating Income
				295.8							11.0
	250.9
232.6	252.6		239.4	7.9	7.7	8.1

								2.6



１Q		２Q		３Q	４Q		１Q			２Q	３Q	４Q
			March/23		March/24						March/23		March/24	2

Business Overview for 1Q Ending March 2024

Key Points of 1st Quarter Financial Results

Although there was a decrease in operating income YoY in the Marine Products Business Segment, units other than Fishery Business Unit exceeded the plan.

Operating income decreased due to lower catch volume and higher fuel costs as a result of reduced operations of vessels in the Fishery Business Unit.

（Fishery Business Unit operating income: -1.0 billion JPY, -0.5 billion JPY YoY)

Sluggish market prices and sales delays for Alaska Pollock business (North America) of the Overseas Business Unit.

Decline in sales volume following inventory adjustments of users (customers) in North America led to decrease in operating income in pet food business (Thailand).

(Overseas Business Unit operating income: 1.8 billion JPY, -1.0 billion JPY YoY)

Operating income recovered in the Processed Foods Business Segment and Foodstuff Distribution Business Segment through price hikes implemented since the previous fiscal year.

Operating income increased due to price hikes and improved operational efficiency and productivity through SKU reductions, etc.

(Operating income for the two segments totaled 3.7 billion JPY, +1.2 billion JPY YoY)

Business Overview for 1Q Ending March 2024

Factors of Increase/Decrease in Operating Income

Increase Decrease Total

Decrease in

Sales prices

Decreased

Sluggish

Diffusion of

Remained

Steady sales

Price

Demand for

Increase in

catch

of major fish

consumption

market for

price hikes

mostly in

to food

increases

storage

corporate

volume due

species

of some fish

Alaska

line with

service,

due to rising

remained

expenses

to reduced

remain high

species such

Pollock and

plan

nursing care

meat

high esp. in

and other

operation of

as salmon

sales delays

food, lunch

market

metropolitan

expenses

fishing

and frozen

in N.

services.

prices,

areas.

including

vessels and

tuna due to

America,

Improved biz

strong sales

Continuing

labor costs

a surge in

high prices,

along with

efficiency and

of imported

high

fuel costs

resulting in a

weak sales

productivity

meat

electricity

drop in sales

for pet food

through price

and other

prices

business in

hikes and

costs

N. America

SKU

reflected in

(Thailand)

reduction, etc.

prices

Business Overview for 1Q Ending March 2024

Marine Products Business Segment

29% decrease in operating income due to a decrease in catch volume and a surge in fuel costs in the fishery business, along with the impact of inventory adjustments of users (customers) in the pet food business.

(JPY in Billions)

Unit

Net Sales		Operating Income
	YoY	YoY
Jun/23 Jun/22		Jun/23 Jun/22
Change	％	Change	％

Fishery Business	8.9	7.6	1.3	+17.0%	-1.0	-0.5	-0.5	-

Aquaculture Business	4.1	4.1	0.0	+1.1%	0.8	-0.7	0.1	+9.9%

Marine Products Trading	73.4	71.9	1.5	+2.1%	2.2	2.3	-0.1	-5.9%

Overseas Business	55.1	45.2	9.8	+21.8%	1.8	2.8	-1.0	-34.8%

Segment Total	141.5	128.8	12.7	+9.9%	3.8	5.3	-1.5	-28.8%

				Net Sales				Operating Income
141.5	146.5	183.0							8.2
128.8				140.2
						6.0
						5.3 3.8

										1.9


１Q		２Q		３Q	４Q
			１Q			２Q	３Q	４Q

				March/23		March/24				March/23	March/24	5

Attachments

Original Link
Original Document
Permalink

Disclaimer

Maruha Nichiro Corp. published this content on 07 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 August 2023 06:14:31 UTC.

Latest news about Maruha Nichiro Corporation

Maruha Nichiro Corporation agreed to acquire a 9.9% stake in Kibun Foods Inc. for ¥2.8 billion	03-24	CI
AZ-COM MARUWA Holdings Inc. made an offer to acquire 99% stake Chilled & Frozen Logistics Holdings Co., Ltd. for ¥65.1 billion.	03-20	CI
Maruha Nichiro Corporation Reports Earnings Results for the Half Year Ended September 30, 2023	11-06	CI
Umami Meats Pte. Ltd. announced that it has received funding from Maruha Nichiro Corporation	29/08/23	CI
China's ban on Japanese seafood has more political than economic heft	24/08/23	RE
Maruha Nichiro Corporation Reports Earnings Results for the Full Year Ended March 31, 2023	08/05/23	CI
Maruha Nichiro Corporation announces an Equity Buyback for 60,773 shares.	27/02/23	CI
Maruha Nichiro Corporation’s Equity Buyback announced on February 27, 2023 has expired.	26/02/23	CI
Maruha Nichiro Corporation authorizes a Buyback Plan.	26/02/23	CI
Maruha Nichiro Corporation’s Equity Buyback announced on May 9, 2022 has expired.	30/10/22	CI
Nikkei 225 Up 1.1% Despite Japanese Manufacturing Gauge Showing September Decline in New Orders	03/10/22	MT
Maruha Nichiro Corporation(TSE:1333) dropped from Nikkei 225 Index	03/10/22	CI
Japan's Nikkei snaps 4-day losing session as Uniqlo, tech gain	06/09/22	RE
Japan's Nikkei inches higher as Fast Retailing, chip shares gain	06/09/22	RE
Aekyungchemical Co., Ltd. Completed the acquisition of an additional 40% stake in AK & MN BioFarm Co., Ltd.	31/08/22	CI
Aekyungchemical Co., Ltd. entered into an agreement to acquire additional 40% stake in AK & MN BioFarm Co., Ltd. for KWR 1.9 billion.	26/07/22	CI
Tranche Update on Maruha Nichiro Corporation's Equity Buyback Plan announced on May 9, 2022.	01/07/22	CI
Takeda, Nintendo among Japanese firms quietly celebrating weak yen	17/06/22	RE
Nikkei 225 Up 0.4% on Wall Street Cues, Fed Action	16/06/22	MT
Maruha Nichiro Corporation announces an Equity Buyback for 2,500,000 shares, representing 4.75% for ¥5,000 million.	09/05/22	CI
Maruha Nichiro Corporation authorizes a Buyback Plan.	08/05/22	CI
Happi Foodi announced that it has received funding from Maruha Nichiro Corporation	22/03/22	CI
Nikkei 225 : Gains 0.9%, Extends Rally on Political Outlook, Softer Yen	07/09/21	MT
Maruha Nichiro Corporation and MARUHA NICHIRO RETAIL SERVICE Co.,Ltd. agreed to acquire 65% in Marine Access Corporation, K.K. from Nippon Access, Inc.	21/06/21	CI
Maruha Nichiro Corporation acquired 57.93% stake in Sai Gon Food Joint Stock Company.	12/01/21	CI

Chart Maruha Nichiro Corporation

Duration

Period

More charts

Company Profile

Maruha Nichiro Corporation is a Japan-based company principally engaged in the fishing, aquaculture, food manufacture, processing and sale business. The Company operates in five business segments. Fishery & Aquaculture segment is involved in fishery business, aquaculture business and the procurement of fishery resources. Trading segment is involved in the procurement and sale of marine products and livestock products. Overseas segment is involved in the sale of marine products and processed foods, as well as the producing and sale of surimi. Processing segment is involved in the manufacture and sale of frozen foods, canned foods, fish sausages, chikuwa, desserts, seasonings, freeze-dried products, and chemical products. Logistics segment stores and transports frozen products. The Company is also involved in the feed storage, shipping, real estate business, as well as the manufacture and sale of furs and pet foods.

Sector

Fishing & Farming

Calendar

04/08/2024 - Q1 2024 Earnings Release (Projected)

More about the company

	1st Jan change	Capi.
MARUHA NICHIRO CORPORATION	+15.78%	1.04B
QL RESOURCES	+15.41%	3.42B
ROS AGRO PLC	-95.58%	1.61B
SLC AGRÍCOLA S.A.	-2.18%	1.58B
GODREJ AGROVET LIMITED	-0.27%	1.28B
SHENZHEN KINGKEY SMART AGRICULTURE TIMES CO.,LTD	-6.01%	1.26B
SILDARVINNSLAN HF.	-11.30%	1.23B
CHERKIZOVO GROUP	-.--%	1.23B
DOLE PLC	+4.39%	1.22B
PT FAP AGRI TBK	0.00%	1.21B

Other Fishing & Farming

Maruha Nichiro Corporation

Equities

1333

JP3876600002

Fishing & Farming

Maruha Nichiro : Supplementary Materials of Financial Results for the 1st Quarter of the Fiscal Year Ending March, 2024

Latest news about Maruha Nichiro Corporation

Chart Maruha Nichiro Corporation

Company Profile

Income Statement Evolution

Quarterly earnings - Rate of surprise

Sector Other Fishing & Farming