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Nissui products. (Photo Credit: Nissui)

Nissui records net sale and operating income rise

  (JAPAN, 11/7/2013)

Nissui (Nippon Suisan Kaisha, Ltd.), Japan’s second biggest seafood firm, evidenced an increase in its net sales in the second quarter of its fiscal year ending in March 2014. The firm also reported its gross profit has shown a slight growth and its operating income has considerably risen.

Net sales increased by 5.3 per cent in the period from April to September, 2013 compared to the same period in 2012, reaching JPY 291.6 billion (USD 2.96 billion). This result exceeded the one expected by the company, which was JPY 290 billion (USD 2.94 billion).

The gross profit also grew 0.6 per cent compared to the same quarter last year, reaching a value of JPY 6.02 billion (USD 61.1 million).

The company’s net income was JPY 3.18 billion (USD 32.3 million) compared to a JPY 1,200 million (USD 12.2 million) loss a year before. Nissui had forecast a net income of JPY 1 billion (USD 10,1 million).

The operating income was JPY 5.30 billion (USD 53.9 million), representing a 82.1 per cent growth compared to the figure achieved a year before, which also exceeded Nissui's expectations (JPY 4 billion/USD 40.6 million).

According to the company, the discrepancy between its Q2 financial forecasts and actual results is related to the fact that its marine products business "enjoyed high prices of salmon/trout and shrimp while it reduced its inventories of marine products".

Nissui added that ordinary income and net income exceeded the previous forecasts as a result of "efforts made to reduce costs on a company-wide scale, and gains recorded including the exchange gain from the weak Japanese yen and sales of noncurrent assets due to the sale of land."

With respect to the worldwide economy, Nissui highlighted that salmon and trout price has risen since the beginning of this year. Besides, it informed that Argentinean red shrimp showed good results while other species prices increased as a consequence of factors such as fish disease, among others.

The firm has also noted that the impact of the sale price fall per unit affected revenue in a negative way.

In Japan, the increase in expenses (such as imported raw material and services like heating and lighting), coupled with the effects of the weak Japanese currency since the end of last year have shrunk profits.

Nissui states that through cost reduction and price revision certain progress was achieved, especially in the case of frozen prepared foods for direct human consumption. On the other hand, the profits obtained from the commercial use of these products decreased.

Despite these measures, the sales of products such as ham, sausage and fish paste (surimi) were lower than in the previous year.

To overcome these issues, certain steps have been devised for the second half of this fiscal year, among which the firm highlights:

  • The promotion of synergies of integrated sales functions for marine products and food products for commercial use;
  • The boost of those sales intended for wholesale dealers;
  • The increase rate of conversion into food ingredients and prepared foods aimed at deeper penetration of products in commercial channels;
  • The reduction of logistics costs by improving inventory turnover;
  • The concentrate on products having high gross margin.
  • The fall in selling expenses and factory costs;
  • Price revision negotiations;
  • The development of new categories;
  • The expansion of sales and of the penetration in each line of business by integrating know-how of prepared foods and
    restaurants with that of seafood sales floors. 

[email protected]

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]
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Global G.A.P.  Marine Eco-Label Japan 


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