Maruha Nichiro : Notice Regarding Upward Revision of Earnings Forecast
November 07, 2022 at 01:22 am EST
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November 7, 2022
Company name:
Maruha Nichiro Corporation
Stock exchange listing:
Tokyo Stock Exchange, Prime Market
Stock code:
1333
URL https://www.maruha-nichiro.com/
Representative:
Title:
President
Name:
Masaru Ikemi
Inquiries:
Hiroyuki Metoki
Acting General Manager of Corporate Planning Department
Phone:
+81 (0)3 6833 1195
Notice Regarding Upward Revision of Earnings Forecast
In light of recent business performance, Maruha Nichiro Corporation has decided to revise its consolidated earnings forecast for the fiscal year ending March 2023 (April 1, 2022 - March 31, 2023), which was announced on May 9, 2022.
1. Revision of Consolidated Earnings Forecasts for the Fiscal Year Ending March 2023 (April 1, 2022 - March 31, 2023)
Net Sales
Operating
Ordinary
Profit attributable to
Profit per
Income
Income
owners of parent
Share
Millions of yen
Millions of yen
Millions of yen
Millions of yen
Yen
Previous Forecast (A)
900,000
24,000
25,000
16,000
304.06
Revised Forecast (B)
970,000
27,000
32,000
19,000
376.16
Change (B-A)
70,000
3,000
7,000
3,000
Change Percentage (%)
7.8
12.5
28.0
18.8
(Ref.) Consolidated
results for the previous
866,702
23,819
27,596
16,898
321.13
FY ended March 2022
(Reason for revision)
In the consolidated cumulative second quarter, the Processed Foods Business Unit and Foodstuff Distribution Business Unit reported a decrease in operating income due to soaring raw material and energy costs and an increase in procurement costs caused by the rapid depreciation of the yen. On the other hand, sales of pet foods and marine products for Europe and North America were strong in the Overseas Business Unit, market prices rose, and sales were strong for marine products in general in the Marine Product Trading Unit, and the Aquaculture Business Unit reported higher operating income due to increased sales of tuna and yellowtail and rising market prices, resulting in a significant increase in overall Group operating income.
From the third quarter onward, the business environment is expected to be even more challenging than before, as the trend of high costs and yen depreciation will not change significantly, and customers will be reluctant due to high market prices, etc. However, as presented above, an upward revision has been made to the consolidated earnings forecast for the full year based on the results through the second quarter.
Please refer to the Company's website below for a breakdown of the results by segment. （https://www.maruha-nichiro.com/ir/pdf/results/20221107_MN_breakdown_en.pdf）
(Note) The above forecasts are based on information available at this time and actual results may differ from the forecasts due to various factors.
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Maruha Nichiro Corp. published this content on 07 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 November 2022 06:21:02 UTC.
Maruha Nichiro Corporation is a Japan-based company principally engaged in the fishing, aquaculture, food manufacture, processing and sale business. The Company operates in five business segments. Fishery & Aquaculture segment is involved in fishery business, aquaculture business and the procurement of fishery resources. Trading segment is involved in the procurement and sale of marine products and livestock products. Overseas segment is involved in the sale of marine products and processed foods, as well as the producing and sale of surimi. Processing segment is involved in the manufacture and sale of frozen foods, canned foods, fish sausages, chikuwa, desserts, seasonings, freeze-dried products, and chemical products. Logistics segment stores and transports frozen products. The Company is also involved in the feed storage, shipping, real estate business, as well as the manufacture and sale of furs and pet foods.
MARUHA NICHIRO CORPORATION 