April 5, 2006

Revision of Business Performance Forecast for
the Year ending March 31, 2006

Please be informed of the following resolutions regarding the above passed at the meeting of the Board of Directors of Nippon Suisan Kaisha, Ltd. held on April 5, 2006.

1. Revision of Business Performance Forecast for the Year ending March 31, 2006

2. Reasons for Revision
(1) Consolidated
Sales are expected to be more or less in line with the previous forecast.
Ordinary income is expected to substantially fall short of the previous forecast. In the Marine Products business in Japan, seafood turnover slackened and the market weakened from around February 2006, which resulted in the deterioration in revenue generated by shrimps, eel, etc., while domestic aquaculture operations performed poorly. In the Foods business, sales of frozen foods were less than planned, and losses incurred during the expansion of the chilled foods business continued, in addition to the increase in costs of raw materials, etc. Moreover, the ready-to-eat frozen seafood company in North America failed to recover revenue according to plan.

(2) Non-consolidated
Sales are expected to be slightly below the previous forecast.
Ordinary income is expected to fall below the previous forecast. In the Marine Products business in Japan, seafood prices hovered at low levels from around February 2006, and in the Foods business, sales of frozen foods were less than planned and costs of raw materials, etc. increased.
Net income is expected to be substantially above the previous forecast due to the sale of investment securities (annual gain on sale in the amount of approx. ¥4.3 billion) based on the effective use of assets.

* The above business performance forecast is based on the information available at the time of the announcement. The actual business performance may differ from the forecast due to various factors in the future.