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| [Consolidated] | The Year ended March 31, 2006 | The Year ended March 31, 2005 |
| Sales | 539,653 | 510,889 |
| change from the previous year (%) | 5.6 | 3.3 |
| Operating income | 11,163 | 12,221 |
| change from the previous year (%) | (8.7) | 20.0 |
| Ordinary income | 11,888 | 12,615 |
| change from the previous year (%) | (5.8) | 45.9 |
| Net income | 6,700 | 6,138 |
| change from the previous year (%) | 9.1 | 96.9 |
| Net income per chare | 23.60 yen | 21.50 yen |
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| Total assets | 384,819 | 331,519 |
| Total shareholders' equity | 105,863 | 88,505 |
| Equity per share | 382.20 yen | 319,28 yen |
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| Dividend | 7yen (Interim 3.5 yen, Final 3.5 yen) |
6 yen (Interim 2.5 yen, Final 3.5 yen) |
Overview of the Year
In the consolidated fiscal year under review, the Japanese economy experienced steady recovery on the back of improvements in corporate earnings and increases in private-sector capital investment. However, the economic outlook remains uncertain, partly due to the termination of the quantitative monetary easing policy by the Bank of Japan and the surge in crude oil prices. As for the world economy, the U.S. economy continued to expand, driven in part by the increase in capital investment, while the European economy also experienced gradual recovery, as shown in the increase in gross domestic product. BRICs (acronym of Brazil, Russia, India and China) continued to enjoy economic growth by taking advantage of their large population and natural resources.
In the industries in which the Company and its subsidiaries and affiliates operate, the business environment was tough in that although seafood prices firmed in Japan until the end of last year, turnover stagnated from the beginning of this year, and the low-price trend of processed products among mass retailers, etc. continued amid the rise in the price of ingredients. In the United States and Europe, the price of white fish fillets, etc. was steady, helped by the growth in global consumption, whereas competition in the market of frozen foods, etc. continued in the United States.
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 “creating customer-oriented value from marine resources”, 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 539,653 million yen, up 28,763 million yen (5.6%) year-on-year; operating income of 11,163 million yen, down 1,058 million yen (8.7%); and ordinary income of 11,888 million yen, down 727 million yen (5.8%), due to the fierce competition faced by the Foods business in Japan and North America.
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 5,278 million yen, while losses on the disposal of property, plant and equipment and impairment losses, etc. resulted in extraordinary losses in the amount of 3,918 million yen. As a consequence, net income was 6.7 billion yen, up 561 million yen (9.1%) year-on-year.
(Reference) Forecast for the Year ending March 31, 2007, Consolidated
Million yen
| [Consolidated] | Sales | Ordinary income | Net income |
| The Year ending March 31, 2007 | 545,000 | 17,000 | 9,000 |
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. Also plese refer to the Company's cautinary note on forward-looking statements on the attachment file below.
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Summary of Financial Statements for the Year ended March 31, 2006 |
The past data should look at IR
Library. IR
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