For the Year ended May 31, 2005
(*) Qualification: This is directly translated into English for the
convenience of readers, and all financial results with the accounting
principles generally accepted in Japan.
Million yen
| [Consolidated] |
The Year ended March. 31, 2005 |
The Year ended March. 31, 2004 |
| Sales |
510,889 |
494,644 |
| change from the previous year (%) |
3.3 |
(1.0) |
| Operating income |
12,221 |
10,183 |
| change from the previous year (%) |
20.0 |
(32.9) |
| Ordinary income |
12,615 |
8,643 |
| change from the previous year (%) |
45.9 |
(40.3) |
| Net income |
6,138 |
3,117 |
| change from the previous year (%) |
96.9 |
(37.2) |
| Net income per chare |
21.50 yen |
10.66 yen |
 |
| Total assets |
331,519 |
326,224 |
| Total shareholders' equity |
88,505 |
81,590 |
| Equity per share |
319.28 yen |
294.21 yen |
|
| Dividend |
6 yen
(Interim 2.5 yen, Final 3.5 yen) |
5 yen
(Interim 2.5 yen, Final 2.5 yen) |
Overview of the Year
In the consolidated fiscal year under review, the Japanese economy was
characterized by improvements in corporate earnings, increase in private-sector
capital investment and signs of recovery in employment conditions. However,
economic prospects remain uncertain, as export growth has slowed down,
production has weakened, consumer spending has stagnated, and crude oil
and other raw material prices have soared since the beginning of the year.
Meanwhile, the world economy is becoming increasingly multipolarized,
in that capital investment and consumer spending continued to increase
in the United States, more countries jointed the EU in Europe, and populous
countries endowed with natural resources such as mines and oil gained
momentum, namely, BRICs (acronym of Brazil, Russia, India and China).
In the industries in which the Company and its subsidiaries and affiliates
operate, the business environment was tough, as consumer prices remained
depressed and natural disasters such as typhoons and earthquakes occurred
one after the other. In the United States and Europe, competition in the
market of frozen foods, etc. remained fierce, while the price of white
fish fillets, etc. were steady, helped by the growth in consumption of
seafood ingredients. In China and Brazil, the demand for shrimp and salmon
increased. The business climate in these countries was in sharp contrast
with the tough Japanese market.
Under these circumstances, the Company and its subsidiaries and affiliates
collectively pressed forward with its medium-term management policy named
the Toward Global Links (TGL) Plan. We globalized our production bases
by further enhancing our manufacturing functions in ?gcreating customer-oriented
value from marine resources?h, a field in which we have built our strengths
to the highest degree. We also made efforts to reinforce our quality assurance
system to ensure the delivery of safe products that satisfy every one
of our customers.
Consequently, our operating results for the consolidated fiscal year
under review were: sales in the amount of 510,889 million yen, up 16,245
million yen (3.3%) year-on-year; operating income of 12,221 million yen,
up 2,038 million yen (20.0%); and ordinary income of 12,615 million yen,
up 3,971 million yen (45.9%). These results were attributable to the increase
in sales generated by the Marine Products business in the United States
and Europe, which offset the tough business climate it faced in Japan,
and the good performance of the Foods business in relation to chilled
foods, frozen foods for home consumption, fine foods, etc. in Japan.
As for extraordinary gains and losses, gains on the sale of property,
plant and equipment and gains on the sale of investment securities, etc.
resulted in extraordinary gains in the amount of 1.4 billion yen, while
losses on the disposal of property, plant and equipment and the creation
of a reserve for doubtful accounts associated with the delayed recovery
of debts from a Russian company, etc. resulted in extraordinary losses
in the amount of 2.9 billion yen. As a consequence, net income was 6,138
million yen, up 3,021 million yen (96.9%) year-on-year.
(Reference) Forecast for the Year ending March 31, 2006, Consolidated
Million yen
| Sales |
535,000 |
| Operating income |
18,000 |
| Ordinary income |
17,000 |
| Net income |
7,500 |
 |
| Dividend per share |
7 yen
(Interim 3.5 yen, Final 3.5 yen) |
The forecast above is based on information available on the issuing
date of this report. Accordingly, the final results will be changed due
to various unknown factors.
The past data should look at IR
Library. IR
Library
