Welcome to FIS   Sponsored By
Subscribe to FIS | Register with FIS | Advertise with FIS | Newsletter | About FIS | Contact us
If you would like to send us an article, contact Margaret Stacey
   


Nichirei will focus on the revival of the Processed Foods business in the first half of the period

COMPANY OF THE WEEK: Nichirei Announces New Medium-Term Business Plan

  (JAPAN, 5/21/2010)

Nichirei Corporation (Public, TYO:2871) has announced a summary of consolidated financial report for the Financial Year ended March 31, 2010 and a new medium-term business plan for the period 2010-2011.

 
 
The new medium-term business plan for the Nichirei Group will be executed over the period from fiscal 2010 through fiscal 2012. The Company has named the plan “Energy 2012,” symbolizing its commitment to meeting stakeholder expectations by managing its operations based on the energy of its employees and confidently executing the plan to achieve sustainable growth and its visions for the future.
 
Review of the Previous Medium-Term Business Plan (Fiscal 2007-2009)
 
In its previous medium-term business plan, Nichirei focused on more aggressive business growth and new challenges by taking advantage of its improved financial situation. Under this plan, the Company sought to expand its profit base by allocating cash flow generated from its operating activities to investments in growth fields.
 
 
The Company expects that the significant capital investments it has made – including the construction of a chicken processing plant in the Processed Food business and the rebuilding of refrigerated warehouses and distribution centers in the Logistics business – will steadily contribute to the Company’s earnings from the current fiscal year onward. The Marine Products business has also returned to profitability, thanks to a successful revitalization plan.
 
Despite the above initiatives and the progress made during the period of the previous medium-term business plan, the Company was affected by the severe changes in the business environment, which included slowing demand, declining prices, and fluctuating exchange rates, stemming from the global economic downturn that began in the fall of 2008, in addition to the surge in prices of raw materials that far exceeded any expectations. As a result, primarily reflecting the severe business environment in the Processed Food business, the Company failed to achieve the numerical goals set out in the plan.
 
As a result of the severe business environment in the Processed Food business, the Company failed to achieve the numerical goals set out in the previous plan 
 
Summary of New Medium-Term Business Plan (Fiscal 2010-2012)
 
During the period of the new medium-term business plan, the business environment is expected to remain severe. In response, Nichirei has adopted a basic concept of achieving sustainable earnings growth by reviewing the current business situation, while steadily pursuing its business strategies and responding promptly to changes in the operating environment. The Company will, in particular, focus on the revival of the Processed Foods business in the first half of the period of the plan. In the second half of the period, it will seek to steadily capture profits from capital investments made under the previous medium-term business plan, and will take steps such as developing overseas markets, to ensure that it retains the leading position in each business.
 
Group Strategies
  • Bolster earnings capacity, and achieve sustainable growth by effectively allocating management resources.
  • Facilitate the sustainable growth of the core operating companies by identifying and capturing growth opportunities.
  • Obtain the trust of society by providing valuable food safety and reliability
  • Strengthen the source of the Group’s competitiveness by further improving the management quality.
  • Strengthen the Group’s abilities to collect and analyze new technologies to create new business models that will ensure sustainable growth.
  •  Examine the possibility of acquiring treasury stock as part of a capital policy.
  • Redevelop the retirement benefit system.
Strategies for Operating Companies
 
Nichirei Corporation's Business Segments
 
Processed Foods (Nichirei Foods Inc.)
  • In addition to the existing production structure of processed chicken products, develop a new structure for stable supply in terms of quality, price and quantity through the new plant in Thailand, and establish a dominant position in the industry.
  • Ensure category-leading positions are maintained in mainstay products, such as rice, processed meat products, spring rolls, and croquettes by taking advantage of the Group’s ability to procure high quality materials and introduce attractive products.
  • In processed agricultural products, focus on competitive products and develop new products through new technologies.
  • In addition to operations in China, develop operations in the global market through production bases in Thailand and Brazil.
  • In health-value products, improve the earnings base by streamlining current operations in view of efficiency, while focusing on health support services for seniors.
  • Bolster sales of the acerola raw material business in overseas markets, especially Europe, aiming to achieve a global market share of 40 percent.
  • Continue with cost cutting.

Nichirei Logistics offers a range of services including freezing, thawing and processing

  Marine Products and Meat & Poultry Products (Nichirei Fresh Inc.)
  • Promptly respond to customer requirements through the renewed sales structure, and strengthen product development with a focus on the quality required by the market.
  • Bolster sales in the home meal replacement market by strengthening the development of highly processed products. (Marine Products)
  • Bolster the upstream business field of quality ingredients. (Meat & Poultry Products)
  • Strengthen overseas sales, mainly in emerging countries, and improve the global quality assurance capability.
  • Restructure overseas bases in line with changes in the procurement routes of resources.
  • Hub-to-hub transportation
    Use the establishment of the Higashi Ogishima Logistics Center, a large new base in Kawasaki City, and existing facilities, to attract new customers and expand the customer base. (Regional Storage)
  • Continue to develop a local transportation business, and help customers expand their operations nationwide. (Regional Storage)
  • Improve price competitiveness by using vehicles efficiently and reviewing the procurement base. (Logistics Network)
  • Also expand operations in both the chilled and room temperature sectors, which are highly desired by customers. (Logistics Network)
  • In the European business, enhance the functions of the local holding company, effectively use the logistics company that has obtained a license in France, and expand the customer base of the new center in Poland.
  • In the Chinese business, seek to set up a second center at the earliest opportunity.

NLG subsidiaries are Logistics Network Inc., Shangai Fresh Line Express Co., Ltd. and Eurofrigo B.V.Thermotraffic GmbH, Eurofrigo Venlo B.V., HIWA Rotterdam Port Cold Stores and Frigo Logistics Sp. zo.o. its shareholders.

Real Estate (Nichirei)
  • In preparation for the end of lease contracts for principal properties in 2011, collaborate with Group companies in boosting Group earnings by effectively using the sites of closed operating bases and other facilities.
Other
Bioscience business (Nichirei Biosciences Inc.)
  • Bolster sales of mainstay culture media products, and build an installment sales model for products in the immunohistochemical stain business.
  • Continue to develop and commercialize new functional materials, and seek to make the cosmetic sales business profitable for the fiscal year.
Shared Services (Nichirei Proserve Inc.)
  • Develop and allocate human resources to help Group companies achieve sound operations and growth.
About Nichirei Corporation
 
Nichirei headquaters in Tokio
Nichirei Corporation is a Japan-based holding company engaged in five main business segments along with its subsidiaries and associated companies.
 
The Processed Foods segment is engaged in the production, processing and sale of frozen foods, processed agriculture products, retort-pouch foods, packed ice and wellness products. Its Marine Products segment is involved in the processing and trading of seafood products.
 
The Meat and Poultry Products segment is engaged in the processing and sale of poultry, pork and beef, as well as the management of restaurants. Its low-temperature logistics segment is engaged in the provision of storage, inventory control, import clearance, freezing and unfreezing services. It is also engaged in the third party logistics business as well as the design, construction and maintenance of buildings.
 
The Real Estate segment is involved in the sale of building lots; the leasing of office buildings and parking lots, and the management of real estate properties.
 
Related News
 
Margaret E.L. Stacey
Editor Companies and Products

 


Information of the company:
Address: 6-19-20 Tsukiji, Chuo-ku
City: Tokyo
State/ZIP: (104-8402)
Country: Japan
Phone: +81 3 3248 2235
Fax: +81 3 3248 2159
E-Mail: [email protected]
More about:


Location:

View Larger Map


Approval / Accreditation / Certified / Oversight by...
IFS (International Food Standard)  HACCP  ISO   Organic Soil Assoc/UK  E.U.  USDA/USDC & FDA  RF (Russia)  BRC (British Retail Consortium) 



 Print


Click to know how to advertise in FIS
MORE ARTICLES
Commited to Environmentally Responsible Fishing Practices
Seafood Icon Celebrates Its 30th Anniversary
Time-Temperature Solution Perfect for Reduced Oxygen Packaging
Strong Operational Earnings for Marine Harvest in Q4
Russian Fishery Company Increases Deep Processing of Pollock on Trawlers
Red Lobster Reveals Seafood With Standards Commitments
Aquabyte Aims to Transform Fish Farming Through Computer Vision and Machine Learning
New Design for SeaPak´s Seafood Product Line Hits Shelves
Meijer Chefs Offer Tips on How to Enjoy Smoked Atlantic Salmon
SafetyChain Software and Safe Quality Seafood Associates Announce Partnership
Produttori Ittici Trevigiani Certified as Sustainable for Rainbow Trout
From Boat to Door-Step
Pacific Seafood is World’s First to Offer Four-Star BAP Oysters
Swiss Company Burgerstein Attains Friend of the Sea's Certification for Omega-3 Fish Oil
New Digimarc Barcode for Thermal Labels Simplifies Retail Checkout and Reduces Product Shrink
AFT Holdings Creates All About Healthy Foods
iFresh Announces Exclusive Agreement with Sunray Venus
Crown Prince Attains Sustanable Certification for Sardines and Anchovies
The Saucy Fish Co. Expands Into Europe
Biomega Natural Nutrients Earns Sustainable Certification for Omega-3
More Articles...

Lenguaje
FEATURED EVENTS
  
TOP STORIES
Higher exports of live lobsters to Asia offset fall in sales to Europe
United States Two thirds of the live lobsters that the United States exported last year went to Asia, a percentage that reflects a growth of 36 percent year-on-year.
UN information exchange tool supports fisheries sustainability
Worldwide It is estimated that the global seafood trade is worth USD 140 billion, but overfishing and illegal, unreported and unregulated fishing are putting the health of fisheries and ocean ecosystems at high risk.
Euro-Moroccan commission relies on favorable ruling by CJEU on EU-Morocco fishing agreement
European Union The EU-Moroccan Mixed Commission of Fisheries Professionals has warned of the damage and the negative socio-economic impact that an unfavorable resolution of the CJEU would have on both parties in relation to the current fishing protocol between the EU and Morocco.
Nine more stocks than in 2017 are now fished at sustainable levels
European Union Fishing businesses in the Atlantic, North Sea and Baltic Sea are enjoying a record on profits, due to a solid recovery of popular fish stocks which were severely depleted some years ago, claims the European Commission.
 
Maruha Nichiro Corporation
Nichirei Corporation -Headquarter-
Pesquera El Golfo S.A.
Ventisqueros - Productos del Mar Ventisqueros S.A
Wärtsilä Corporation -Wartsila Group Headquarter-
ITOCHU Corporation -Headquarter-
BAADER - Nordischer Maschinenbau Rud. Baader GmbH+Co.KG (Head Office)
Inmarsat plc - Global Headquarters
Marks & Spencer
Tesco PLC (Supermarket) - Headquarters
Sea Harvest Corporation (PTY) Ltd.
I&J - Irvin & Johnson Holding Company (Pty) Ltd.
Blue Continent Products (Pty) Ltd - (Oceana Group Limited)
Pesquera San Jose S.A.
Nutreco N.V. - Head Office
CNFC China National Fisheries Corporation - Group Headquarters
W. van der Zwan & Zn. B.V.
SMMI - Sunderland Marine Mutual Insurance Co., Ltd. - Headquarters
Icicle Seafoods Inc. -Headquarter-
Starkist Seafood Co. - Headquearters
Trident Seafoods Corp.
American Seafoods Group LLC - Head Office
Marel - Group Headquarters
SalMar ASA - Group Headquarters
Sajo Industries Co., Ltd
Hansung Enterprise Co.,Ltd.
BIM - Irish Sea Fisheries Board (An Bord Iascaigh Mhara)
CEFAS - Centre for Environment, Fisheries & Aquaculture Science
COPEINCA ASA - Corporacion Pesquera Inca S.A.C.
Chun Cheng Fishery Enterprise Pte Ltd.
VASEP - Vietnam Association of Seafood Exporters & Producers
Gomes da Costa
Furuno Electric Co., Ltd. (Headquarters)
NISSUI - Nippon Suisan Kaisha, Ltd. - Group Headquarters
FAO -Food and Agriculture Organization- Fisheries and Aquaculture Department (Headquarter)
Hagoromo Foods Co., Ltd.
Koden Electronics Co., Ltd. (Headquarters)
A.P. Møller - Maersk A/S - Headquarters
BVQI - Bureau Veritas Quality International (Head Office)
UPS - United Parcel Service, Inc. - Headquarters
Hamburg Süd Group - (Headquearters)
Armadora Pereira S.A. - Group Headquarters
NOAA - National Oceanic and Atmospheric Administration (Headquarters)
Omega Protein Corporation -Headquarter-
Marona S.A.
Marine Harvest ASA - Headquarters
Marubeni Europe Plc -UK-
Findus Ltd
Icom Inc. (Headquarter)
WWF Centroamerica
Oceana Group Limited
The David and Lucile Packard Foundation
Ajinomoto Co., Inc. - Headquarters
Friosur S.A. - Headquarters
Cargill, Incorporated - Global Headquarters
Benihana Inc.
Leardini Pescados Ltda
Mitsubishi Corporation Marine Products Depts. D.Team
CJ Corporation  - Group Headquarters
Greenpeace International - The Netherlands
David Suzuki Foundation
Fisheries and Oceans Canada -Communications Branch-
Mitsui & Co.,Ltd - Headquarters
NOREBO Group (former Ocean Trawlers Group)
Natori Co., Ltd.
Carrefour Supermarket - Headquarters
FedEx Corporation -Headquarter-
AKBM - Aker BioMarine ASA
Seafood Choices Alliance -Headquarter-
Austevoll Seafood ASA
Walmart / Wal-Mart Stores, Inc. (Supermarket) -Headquarter-
New Japan Radio Co.Ltd (JRC) -Head Office-
Gulfstream JSC
INVE Group - Head Office
Marine Stewardship Council - MSC Worldwide Headquarters
Royal Dutch Shell plc (Headquarter)
Genki Sushi Co.,Ltd -Headquarter-
Iceland Pelagic ehf
AXA Assistance Argentina S.A.
Caterpillar Inc. - Headquarters
Tiger Brands Limited
Morpol ASA - Group Headquarters
SeaChoice
National Geographic Society
AmazonFresh, LLC - AmazonFresh

Copyright 1995 - 2018 Fish Info & Services Co.Ltd| All Rights Reserved.   DISCLAIMER