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Nissui products. (Photo Credit: Nissui)

Nissui records strong net income growth

  (JAPAN, 8/8/2013)

Nissui, Japan’s second biggest seafood firm, showed an important increase in its net income in the first quarter of its fiscal year 2013 but its gross profit decreased slightly and its operating income remained stable.

Net sales increased by 1.1 per cent in the first three months of this year compared to the same period in 2012, reaching JPY 142,429 million (USD 1,446 million), a year-on-year increase of JPY 1, 500 million (USD 15.29 million).

The sales general and administrative expenses were also on the decline with a value of JPY 27,500 million (USD 280 million) compared to JPY 28,600 million (USD 292 million) in 1Q of 2012.

The operating income was JPY 2,648 million (USD 27 millones), JPY 49 million (USD 500,000) more than a year before.

Non operating income increased from JPY 600 million (USD 6 million) to JPY 1,900 million (USD 19 million) in the same period while non operating expenses were reduced from JPY 1,600 million to JPY 900 million (USD 16 million to USD 9 million). 

The company’s ordinary income was up to JPY 3,700 million (USD 38 million) this quarter, representing a 2,6 per cent increase year on year.

The income before tax also increased from JPY 1,400 million (USD 14 million) to JPY 4,700 million (USD 48 million).

The net income reached a high of JPY 2,694 million (USD 27,5 million), an increase of 256.8 per cent increase compared to Q1 2012.

The depreciation of the yen combined with an increase in stock prices resulted in an economic recovery for the Japanese company during the first three months of its FY 2013.

With respect to the worldwide economy, the US together with the UK and Germany seemed to have recovered although in the rest of Europe there is still some economic stagnation caused mainly by Italy and Greece’s domestic economies. In China, the economy grew although less than before.
 
In Japan, the sales of bonito were strong whereas catches of tuna and yellowtail decreased but sardine catches remained firm. 

With regards to aquaculture in Japan, tuna sales volume were down. In contrast, yellowtail sales saw an increase.

The cost of fish increased as a direct result of fish diseases in South America.

In the processed food sector, Japanese companies were affected by the rising price of raw materials and products due to the depreciation of the yen.

In the chilled food business, revenue declined, but the utility had an annual increase. While sales of bento boxes (containing chilled fish) fell, a better organization in managing bento factories meant that there was less loss of earnings due to the elimination of the raw material.

By Gabriela Raffaele
[email protected]
www.fis.com


Information of the company:
Address: Nippon Bldg., 2-6-2, Otemachi
City: Chiyoda-ku
State/ZIP: Tokyo (100-8686)
Country: Japan
Phone: +81 3 3244 7000
E-Mail: [email protected]
More about:




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Dolphin Safe  Friend of the Sea  HACCP  ISO   MSC/Marine Stewardship Council  E.U.  USDA/USDC & FDA  RF (Russia) 
Global G.A.P.  Marine Eco-Label Japan 



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