July 31, 2020
Consolidated Financial Results
for the Three Months Ended June 30, 2020
J-GAAP>
Toyo Suisan Kaisha, Ltd.
First Section of the Tokyo Stock Exchange 2875 https://www.maruchan.co.jp/
Masanari Imamura, Representative Director and President Chiyoko Matsumoto, General Manager of Accounting Department
TEL: +81-3-3458-5246 (from overseas) | |
Scheduled date of filing of quarterly securities report: | August 13, 2020 |
Scheduled date of start of dividend payment: | - |
Preparation of quarterly results presentation materials: | Yes |
Holding of quarterly results briefing meeting: | None |
(Amounts less than one million yen have been omitted.)
1. Consolidated Operating Results for the First Three Months of FY2021 (from April 1, 2020 to June 30, 2020)
(1) | Consolidated Operating Results | (Percentages indicate year-on-year changes.) | ||||||||||||||||||
Net sales | Operating profit | Ordinary profit | Profit attributable to | |||||||||||||||||
owners of parent | ||||||||||||||||||||
Three months ended | Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | ||||||||||||
Jun. 30, 2020 | 104,304 | 6.7 | 10,379 | 78.2 | 11,060 | 64.4 | 8,400 | 76.4 | ||||||||||||
Jun. 30, 2019 | 97,758 | 1.0 | 5,824 | (10.2) | 6,727 | (6.6) | 4,761 | (6.8) | ||||||||||||
Note: | Comprehensive income | Three months | ended | June 30, 2020: | 7,954 million yen | [906.8%] | ||||||||||||||
Three months ended June 30, 2019: | 790 million yen | [(92.0)%] | ||||||||||||||||||
Basic earnings | Diluted earnings per | |||||||||||||||||||
per share | share | |||||||||||||||||||
Three months ended | Yen | Yen | ||||||||||||||||||
Jun. 30, 2020 | 82.26 | - | ||||||||||||||||||
Jun. 30, 2019 | 46.63 | - | ||||||||||||||||||
(2) | Consolidated Financial Position | |||||||||||||||||||
Total assets | Net assets | Equity ratio | ||||||||||||||||||
Millions of yen | Millions of yen | % | ||||||||||||||||||
As of Jun. 30, 2020 | 403,301 | 321,787 | 76.9 | |||||||||||||||||
As of Mar. 31, 2020 | 402,608 | 317,994 | 76.2 | |||||||||||||||||
Reference: Equity | ||||||||||||||||||||
As of June 30, 2020: | 310,265 million yen | |||||||||||||||||||
As of March 31, 2020: | 306,648 million yen | |||||||||||||||||||
2. | Dividends | |||||||||||||||||||
Full Year Dividends | ||||||||||||||||||||
1st quarter-end | 2nd quarter-end | 3rd quarter-end | Year-end | For the year | ||||||||||||||||
Yen | Yen | Yen | Yen | Yen | ||||||||||||||||
FY2020 | - | 40.00 | - | 40.00 | 80.00 | |||||||||||||||
FY2021 | - | |||||||||||||||||||
FY2021 (Forecast) | 40.00 | - | 40.00 | 80.00 | ||||||||||||||||
Note: | Revisions to the | dividends forecasts | most recently | announced: None |
3. Consolidated Results Forecasts for FY2021 (from April 1, 2020 to March 31, 2021)
(Percentages indicate year-on-year changes.)
Net sales | Operating profit | Ordinary profit | Profit attributable to | Basic earnings | ||||||
owners of parent | per share | |||||||||
Millions of | % | Millions of | % | Millions of | % | Millions of | % | Yen | ||
yen | yen | yen | yen | |||||||
Half year | 207,000 | 4.4 | 14,000 | 20.0 | 15,000 | 13.4 | 12,000 | 25.4 | 117.50 | |
Full year | 426,000 | 2.4 | 30,500 | 7.6 | 33,000 | 5.3 | 26,000 | 11.2 | 254.58 |
Note: Revisions to the results forecasts most recently announced: None
- Notes
- Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change in scope of consolidation): None
- Application of specific accounting procedures for preparation of the quarterly consolidated financial statements: None
- Changes in accounting policies, changes in accounting estimates, and restatement
- Changes in accounting policies due to amendments to accounting standards and other regulations: None
- Changes in accounting policies due to other reasons: None
- Changes in accounting estimates: None
- Restatement: None
- Number of shares issued (common stock)
- Number of shares issued at end of period (including treasury shares)
As of June 30, 2020 | 110,881,044 shares | |
As of March 31, 2020 | 110,881,044 shares | |
b. Number of treasury shares at end of period | ||
As of June 30, 2020 | 8,752,784 shares | |
As of March 31, 2020 | 8,752,690 shares |
- Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year)
Three months ended June 30, 2020 | 102,128,323 shares |
Three months ended June 30, 2019 | 102,128,706 shares |
- Quarterly financial results reports are exempt from quarterly reviews conducted by certified public accountants or an audit corporation.
-
Explanation related to the appropriate use of the results forecasts and other items warranting special mention(Caution regarding forward-looking statements)
Forward-looking statements in this document, including the results forecasts, etc., are based on the information available as of the date of the release of this document and the preconditions that the Company deemed to be reasonable; they are not meant to be a commitment by the Company, and a variety of factors in the future may cause actual results to differ materially from these forecasts. Please refer to Section: "(3) Explanation of forward-looking information, including consolidated results forecasts" of "1. Qualitative Information on Quarterly Consolidated Financial Results for the Three Months Ended June 30, 2020" on page 3 of the attachments for the preconditions for the results forecasts and items to exercise caution in the use of these results forecasts.
Index of Attachments | ||
1. Qualitative Information on Quarterly Consolidated Financial Results for the Three Months Ended | ||
June 30, 2020................................................................................................................................................. | 2 | |
(1) | Explanation of the consolidated operating results.................................................................................... | 2 |
(2) | Explanation of the consolidated financial position .................................................................................. | 3 |
(3) | Explanation of forward-looking information, including consolidated results forecasts .......................... | 3 |
2. Quarterly Consolidated Financial Statements and Significant Notes Thereto ....................................... | 4 | |
(1) | Quarterly consolidated balance sheets ..................................................................................................... | 4 |
(2) | Quarterly consolidated statements of income and comprehensive income.............................................. | 6 |
Quarterly consolidated statements of income (Cumulative) .................................................................... | 6 | |
Quarterly consolidated statements of comprehensive income (Cumulative) ........................................... | 7 | |
(3) | Notes to quarterly consolidated financial statements ............................................................................... | 8 |
(Notes on going concern assumptions) .................................................................................................... | 8 | |
(Notes in the event of substantial changes in shareholders' equity)......................................................... | 8 | |
(Segment information) ............................................................................................................................. | 8 |
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1. Qualitative Information on Quarterly Consolidated Financial Results for the Three Months Ended June 30, 2020
(1) Explanation of the consolidated operating results
During the three months ended June 30, 2020, the conditions in the Japanese economy were extremely challenging due to the impact of the novel coronavirus disease (COVID-19). Looking ahead, although a recovery is expected amid a gradual pickup in the level of socioeconomic activities as measures to prevent the spread of infections are implemented, it is necessary to closely monitor infection trends in Japan and other countries and the impact of fluctuations in financial and capital markets, etc.
Under these circumstances, the Toyo Suisan Group (hereafter, the "Group") has remained committed to its mission "to contribute to society through foods" and "to provide safe and secure foods and services to customers" under the corporate slogan of "Smiles for All." The Group continued to implement further cost reductions and promoted aggressive sales activities in its efforts to face an increasingly competitive sales environment.
As a result, net sales were ¥104,304 million (up 6.7% year on year), operating profit was ¥10,379 million (up 78.2% year on year), ordinary profit was ¥11,060 million (up 64.4% year on year), and profit attributable to owners of parent was ¥8,400 million (up 76.4% year on year) for the period under review.
The foreign exchange rate as of the end of the period was ¥107.71 to the U.S. dollar (¥107.75 to the U.S. dollar as of the end of the corresponding period of the previous fiscal year).
The operating results by segment are as follows.
In the Seafood Segment, due to the impact of requests for the public to stay at home and other measures to prevent the spread of COVID-19, although the demand for some supermarkets increased, there was a drop off in demand for convenience stores, restaurants and hotels, and sales volumes decreased. Sales also decreased due to the effects of a decline in market prices for the core products of salmon and trout and fewer inshore fish caught. As a result, segment sales were ¥6,860 million (down 7.2% year on year) and segment profit was ¥213 million (up 929.2% year on year) due to the effect of inventory valuation review conducted in the previous fiscal year and selling products at reasonable prices, despite increases in personnel expenses and depreciation.
In the Overseas Instant Noodles Segment, sales increased in the U.S. because of strong growth in sales volumes for our signature products, the bag-type noodle product Ramen series and the cup-type noodle product Instant Lunch series, owing to higher demand for instant noodles due to the impact of the spread of COVID-19 in addition to the strengthening of initiatives for existing customers and sales to new customers. In Mexico, sales increased because of favorable sales of bag-type noodles and the effect of a price revision implemented in January 2020, despite lower sales volumes of the signature product of cup-type noodles year on year due to the impact of a weak peso and other factors. As a result, segment sales were ¥23,682 million (up 19.8% year on year). Segment profit was ¥4,599 million (up 75.2% year on year) mainly due to increased sales volume, a decrease in raw material costs, and the curbing of sales promotion costs, despite increases in distribution costs and personnel expenses.
In the Domestic Instant Noodles Segment, due to the impact of requests for the public to stay at home and other measures to prevent the spread of COVID-19, the opportunities for dining at home increased, leading to higher demand. Cup-type noodles saw decreased sales overall despite favorable sales of the Japanese-style series including Akai Kitsune Udon and Midori no Tanuki Ten Soba in addition to the Gotsu Mori series and the MARUCHAN QTTA series, for which we actively introduced new products. Sales in bag-type noodles increased thanks to favorable sales mainly of the Maruchan Seimen series. As a result, segment sales were ¥30,945 million (up 5.4% year on year) and segment profit was ¥3,495 million (up 146.6% year on year) due to decreases mainly in raw material costs, sales promotion costs, and advertising expenses, despite factors such as an increase in personnel expenses.
In the Frozen and Refrigerated Foods Segment, due to the impact of requests for the public to stay at home and other measures to prevent the spread of COVID-19, the opportunities for dining at home increased, leading to higher demand for household products despite a decrease in sales of products for restaurants, etc. For fresh noodles, sales were favorable mainly for the Maruchan Yakisoba (Three-MealPackage) series as well as for the signature products of udon noodles, ramen noodles, etc. In addition, sales were steady for the Pari-PariMugen series whose sales had increased significantly in the previous fiscal year. Although sales of chilled foods were favorable mainly for household products, sales of frozen foods fell year on year due to a decrease in the demand for products for restaurant business. As a result, segment sales were ¥20,757 million (up 12.0% year on year) and segment profit was ¥2,009 million (up 39.3% year on year) mainly due to an increase in sales and a decrease in raw material costs.
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In the Processed Foods Segment, due to the impact of requests for the public to stay at home and other measures to prevent the spread of COVID-19 and increased opportunities for dining at home, sales were favorable for packaged cooked rice, mainly for the cooked white rice series including Attaka Gohan, the flavored cooked rice series including Fukkura Osekihan and the healthy series including Genmai Gohan, and for freeze-dried products including the Sozai no Chikara series, a freeze-dried soup product with five packs in one bag. As a result, segment sales were ¥5,977 million (up 14.1% year on year), and the segment reported a segment loss of ¥182 million (compared with a segment loss of ¥318 million in the corresponding period of the previous fiscal year) owing to the increases mainly in personnel expenses and depreciation.
In the Cold-Storage Segment, sales from trade such as customs clearance and transportation were robust as we were able to maintain a high inventory level and as a result of the beneficial effect of the start of operations at the Ishikari New Port Distribution Center, which was completed in May 2020, despite weakness in cargo movement mainly in products for restaurant business due to the impact of the spread of COVID-19. As a result, segment sales were ¥5,389 million (up 7.3% year on year) while segment profit was ¥273 million (down 19.1% year on year) due to increases in depreciation and personnel expenses associated with the operation of new cold storage facilities, etc.
The Other Business Segment consists of mainly the packed lunch/deli food business. Segment sales were ¥10,691 million (down 14.1% year on year) while segment profit was ¥208 million (down 53.6% year on year).
(2) Explanation of the consolidated financial position
At the end of the first quarter of the fiscal year ending March 31, 2021, total assets increased by ¥692 million from the previous fiscal year-end to ¥403,301 million, and net assets increased by ¥3,793 million to ¥321,787 million. The main factors contributing to these results are as follows:
The main contributing factors for assets were increases in cash and deposits, and buildings and structures, despite a decrease in notes and accounts receivable - trade. The main contributing factor for liabilities was a decrease in accrued expenses. The main contributing factor for net assets was an increase in retained earnings.
As a result of these factors, the equity ratio was 76.9%.
(3) Explanation of forward-looking information, including consolidated results forecasts
The Company has not changed its consolidated results forecasts for the first six months and the full term of the fiscal year ending March 31, 2021, as announced on May 15, 2020, because it is unclear when the COVID-19 pandemic will be brought under control and it is difficult to rationally calculate the impact on the consolidated results forecasts at this time. If any revisions are necessary in the future, the relevant information will be duly disclosed.
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2. Quarterly Consolidated Financial Statements and Significant Notes Thereto
- Quarterly consolidated balance sheets
(Millions of yen) | |||
As of end FY2020 | As of end 1Q FY2021 | ||
(March 31, 2020) | (June 30, 2020) | ||
Assets | |||
Current assets | |||
Cash and deposits | 112,754 | 114,692 | |
Notes and accounts receivable - trade | 57,106 | 51,717 | |
Securities | 23,000 | 23,000 | |
Merchandise and finished goods | 13,598 | 15,325 | |
Work in process | 347 | 370 | |
Raw materials and supplies | 6,062 | 6,601 | |
Other | 3,412 | 3,834 | |
Allowance for doubtful accounts | (649) | (635) | |
Total current assets | 215,632 | 214,905 | |
Non-current assets | |||
Property, plant and equipment | |||
Buildings and structures, net | 72,706 | 77,104 | |
Machinery, equipment and vehicles, net | 37,521 | 38,122 | |
Land | 34,976 | 34,958 | |
Leased assets, net | 2,538 | 2,453 | |
Construction in progress | 7,233 | 3,423 | |
Other, net | 1,204 | 1,358 | |
Total property, plant and equipment | 156,181 | 157,420 | |
Intangible assets | |||
Other | 1,443 | 1,374 | |
Total intangible assets | 1,443 | 1,374 | |
Investments and other assets | |||
Investment securities | 27,018 | 27,454 | |
Deferred tax assets | 1,377 | 1,213 | |
Retirement benefit asset | 63 | 57 | |
Other | 891 | 874 | |
Total investments and other assets | 29,351 | 29,600 | |
Total non-current assets | 186,976 | 188,395 | |
Total assets | 402,608 | 403,301 |
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(Millions of yen) | ||||||
As of end FY2020 | As of end 1Q FY2021 | |||||
(March 31, 2020) | (June 30, 2020) | |||||
Liabilities | ||||||
Current liabilities | ||||||
Notes and accounts payable - trade | 25,531 | 27,313 | ||||
Short-term borrowings | 324 | 342 | ||||
Lease obligations | 310 | 316 | ||||
Accrued expenses | 23,246 | 19,449 | ||||
Income taxes payable | 4,555 | 2,618 | ||||
Provision for bonuses for directors (and other | 143 | 69 | ||||
officers) | ||||||
Other | 2,544 | 2,791 | ||||
Total current liabilities | 56,656 | 52,901 | ||||
Non-current liabilities | ||||||
Lease obligations | 3,734 | 3,681 | ||||
Deferred tax liabilities | 2,185 | 2,856 | ||||
Provision for retirement benefits for directors | 326 | 312 | ||||
(and other officers) | ||||||
Retirement benefit liability | 20,303 | 20,361 | ||||
Asset retirement obligations | 212 | 213 | ||||
Other | 1,196 | 1,187 | ||||
Total non-current liabilities | 27,958 | 28,611 | ||||
Total liabilities | 84,614 | 81,513 | ||||
Net assets | ||||||
Shareholders' equity | ||||||
Share capital | 18,969 | 18,969 | ||||
Capital surplus | 22,942 | 22,942 | ||||
Retained earnings | 268,100 | 272,416 | ||||
Treasury shares | (8,230) | (8,231) | ||||
Total shareholders' equity | 301,781 | 306,096 | ||||
Accumulated other comprehensive income | ||||||
Valuation difference on available-for-sale | 7,372 | 7,681 | ||||
securities | ||||||
Deferred gains or losses on hedges | 11 | 3 | ||||
Foreign currency translation adjustment | 37 | (1,065) | ||||
Remeasurements of defined benefit plans | (2,555) | (2,451) | ||||
Total accumulated other comprehensive income | 4,866 | 4,169 | ||||
Non-controlling interests | 11,345 | 11,521 | ||||
Total net assets | 317,994 | 321,787 | ||||
Total liabilities and net assets | 402,608 | 403,301 |
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- Quarterly consolidated statements of income and comprehensive income Quarterly consolidated statements of income (Cumulative)
(Millions of yen) | ||||||
1Q FY2020 | 1Q FY2021 | |||||
(from April 1, 2019 | (from April 1, 2020 | |||||
to June 30, 2019) | to June 30, 2020) | |||||
Net sales | 97,758 | 104,304 | ||||
Cost of sales | 62,513 | 63,011 | ||||
Gross profit | 35,244 | 41,293 | ||||
Selling, general and administrative expenses | 29,420 | 30,913 | ||||
Operating profit | 5,824 | 10,379 | ||||
Non-operating income | ||||||
Interest income | 523 | 364 | ||||
Dividend income | 242 | 258 | ||||
Share of profit of entities accounted for using equity | 28 | - | ||||
method | ||||||
Miscellaneous income | 252 | 261 | ||||
Total non-operating income | 1,047 | 884 | ||||
Non-operating expenses | ||||||
Interest expenses | 62 | 60 | ||||
Share of loss of entities accounted for using equity | - | 108 | ||||
method | ||||||
Miscellaneous loss | 81 | 34 | ||||
Total non-operating expenses | 143 | 204 | ||||
Ordinary profit | 6,727 | 11,060 | ||||
Extraordinary income | ||||||
Gain on sales of non-current assets | 0 | 0 | ||||
Subsidy income | 92 | 836 | ||||
Other | 19 | 1 | ||||
Total extraordinary income | 113 | 838 | ||||
Extraordinary losses | ||||||
Loss on sales and retirement of non-current assets | 118 | 69 | ||||
Other | 18 | 2 | ||||
Total extraordinary losses | 137 | 71 | ||||
Profit before income taxes | 6,704 | 11,826 | ||||
Income taxes - current | 1,376 | 2,632 | ||||
Income taxes - deferred | 453 | 649 | ||||
Total income taxes | 1,829 | 3,282 | ||||
Profit | 4,874 | 8,543 | ||||
Profit attributable to non-controlling interests | 112 | 143 | ||||
Profit attributable to owners of parent | 4,761 | 8,400 |
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Quarterly consolidated statements of comprehensive income (Cumulative)
(Millions of yen) | |||||||
1Q FY2020 | 1Q FY2021 | ||||||
(from April 1, 2019 | (from April 1, 2020 | ||||||
to June 30, 2019) | to June 30, 2020) | ||||||
Profit | 4,874 | 8,543 | |||||
Other comprehensive income | |||||||
Valuation difference on available-for-sale securities | (1,171) | 366 | |||||
Deferred gains or losses on hedges | (18) | (7) | |||||
Foreign currency translation adjustment | (2,919) | (1,103) | |||||
Remeasurements of defined benefit plans, net of tax | 20 | 110 | |||||
Share of other comprehensive income of entities | 5 | 44 | |||||
accounted for using equity method | |||||||
Total other comprehensive income
Comprehensive income
Comprehensive income attributable to
Comprehensive income attributable to owners of parent
Comprehensive income attributable to non- controlling interests
(4,084) | (589) | |||
790 | 7,954 | |||
684 | 7,702 | |||
105 | 251 |
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- Notes to quarterly consolidated financial statements (Notes on going concern assumptions)
Not applicable
(Notes in the event of substantial changes in shareholders' equity) Not applicable
(Segment information)
- Three months ended June 30, 2019 (from April 1, 2019 to June 30, 2019)
1. Information relating to net sales, profit and loss by each reportable segment
(Millions of yen)
Reportable segment | Amount | ||||||||||
reported on | |||||||||||
Adjust- | quarterly | ||||||||||
Overseas | Domestic | Frozen and | Other | consoli- | |||||||
Processed | Cold- | Total | ments | ||||||||
Seafood | Instant | Instant | Refrigerated | (Note 1) | dated | ||||||
Total | (Note 2) | ||||||||||
Segment | Noodles | Noodles | Foods | Foods | Storage | financial | |||||
Segment | Segment | ||||||||||
Segment | Segment | Segment | statements | ||||||||
(Note 3) | |||||||||||
Net sales | |||||||||||
Net sales to | |||||||||||
outside | 7,396 | 19,761 | 29,356 | 18,537 | 5,241 | 5,020 | 85,314 | 12,444 | 97,758 | - | 97,758 |
customers | |||||||||||
Intersegment | 226 | - | - | - | - | 284 | 511 | 21 | 533 | (533) | - |
sales or transfers | |||||||||||
Total | 7,623 | 19,761 | 29,356 | 18,537 | 5,241 | 5,305 | 85,825 | 12,466 | 98,291 | (533) | 97,758 |
Segment profit | 20 | 2,624 | 1,417 | 1,443 | (318) | 337 | 5,525 | 448 | 5,973 | (149) | 5,824 |
(loss) | |||||||||||
Notes: 1. The Other Business Segment is one which is not among the reportable segments and refers to a business which is mainly involved in the packed lunch/deli food business.
- The negative ¥149 million in segment profit or loss adjustments includes companywide expenses of negative ¥290 million which have not been allocated to each reportable segment, a ¥21 million adjustment to inventories, and other adjustments of ¥119 million. Companywide expenses refer mainly to general and administrative expenses which do not belong to any reportable segment. Other adjustments are mainly for the offset elimination of knowhow fees from overseas subsidiaries.
- Segment profit or loss is adjusted at the operating profit level on the quarterly consolidated financial statements.
2. Information relating to impairment loss on non-current assets or goodwill for each reportable segment Not applicable
8
-
Three months ended June 30, 2020 (from April 1, 2020 to June 30, 2020)
1. Information relating to net sales, profit and loss by each reportable segment
(Millions of yen)
Reportable segment | Amount | ||||||||||
reported on | |||||||||||
Adjust- | quarterly | ||||||||||
Overseas | Domestic | Frozen and | Other | consoli- | |||||||
Processed | Cold- | Total | ments | ||||||||
Seafood | Instant | Instant | Refrigerated | (Note 1) | dated | ||||||
Total | (Note 2) | ||||||||||
Segment | Noodles | Noodles | Foods | Foods | Storage | financial | |||||
Segment | Segment | ||||||||||
Segment | Segment | Segment | statements | ||||||||
(Note 3) | |||||||||||
Net sales | |||||||||||
Net sales to | |||||||||||
outside | 6,860 | 23,682 | 30,945 | 20,757 | 5,977 | 5,389 | 93,613 | 10,691 | 104,304 | - | 104,304 |
customers | |||||||||||
Intersegment | 249 | - | - | 1 | - | 271 | 522 | 5 | 527 | (527) | - |
sales or transfers | |||||||||||
Total | 7,109 | 23,682 | 30,945 | 20,758 | 5,977 | 5,661 | 94,135 | 10,696 | 104,832 | (527) | 104,304 |
Segment profit | 213 | 4,599 | 3,495 | 2,009 | (182) | 273 | 10,408 | 208 | 10,617 | (237) | 10,379 |
(loss) | |||||||||||
Notes: 1. The Other Business Segment is one which is not among the reportable segments and refers to a business which is mainly involved in the packed lunch/deli food business.
- The negative ¥237 million in segment profit or loss adjustments includes companywide expenses of negative ¥309 million which have not been allocated to each reportable segment, a negative ¥56 million adjustment to inventories, and other adjustments of ¥128 million. Companywide expenses refer mainly to general and administrative expenses which do not belong to any reportable segment. Other adjustments are mainly for the offset elimination of knowhow fees from overseas subsidiaries.
- Segment profit or loss is adjusted at the operating profit level on the quarterly consolidated financial statements.
2. Information relating to impairment loss on non-current assets or goodwill for each reportable segment Not applicable
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Toyo Suisan Kaisha Co. Ltd. published this content on 31 July 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 July 2020 03:35:10 UTC