Summary of Q&A for Results briefing of Fiscal Year 2019 held on May 22, 2020

We estimate the impact of COVID-19 as follows;
In Japan, operating profit will be zero due to a negative impact on Marine products business and Chilled business and a positive effect of lower administrative costs. In North America, there will be a negative effect on Marine products business and Food products business, especially in food for food service, while a negative impact on Marine products business is expecting in Europe. Operating profit in a total of North America and Europe will be minus 1 billion yen both in Marine products business and in food business.

We put the market condition in April into place the plan. The price of salmon/trout fell dramatically, but we expect it won't happen again.

We examined the figures based on the interviews with our group companies. The situation will change due to the impact of novel coronavirus, however, we don't expect the global economy as a whole or all the fisheries market will fall any further.

The fiscal year in overseas is from January to December and there was a little impact in January and February. The sales for food service were affected as most of the restaurant chains were closed or only drive-through service were in operation in March and April. Demand for household use for supermarket is increasing but securing enough personnel is difficult.