Supplemental Documents for the 1st Quarter of FY2022
Nippon Suisan Kaisha, Ltd., | 4th August 2022 |
Overview of the 1st Quarter of FY2022
- Ordinary Profit remained at the same level as the previous year although there was intense upward pressure on costs. However, Profit attributable to owners of parent declined due to an increase in corporate taxes.
- Marine Product business went well, covering the poor performance of the Food Product business. The progress rate against the plan has been reasonable so far.
- In the Marine product business, consumption continues to be steady from the previous year, and fish prices are also favored, resulting in increased sales and profits.
- Sales increased in the Food Product business. However, there was a significant decrease in profit due to cost increases.
(Unit: 100 million JPY) | 1Q of FY2021 | 1Q of FY2022 | Y-o-Y | |
(%) | ||||
Net Sales | 1,654 | 1,842 | 188 | 11.4 |
Operating Profit | 70 | 66 | (3) | (5.3) |
Ordinary Profit | 74 | 73 | (1) | (1.5) |
Profit attributable | 51 | 42 | (9) | (18.4) |
to owners of parent | ||||
Progress
Annual Plan for Rate
FY2022
(%)
7,200 25.6
225 29.7
255 28.9
180 23.5
2
Overview of the 1st Quarter of FY2022 by Segment
- Significant increase in Net Sales in the Marine Products & Food Products Business, including the impact of foreign exchange rates of approximately 5 billion yen
1Q of | 1Q of | Y-on-Y | |||||
(Unit: 100 million JPY) | FY2021 | FY2022 | |||||
(Amount) | (%) | ||||||
Net Sales | 1,654 | 1,842 | 188 | 11.4 | |||
Marine Products | 635 | 757 | 121 | 19.2 | |||
Food Products | 840 | 929 | 88 | 10.5 | |||
Fine Chemicals | 78 | 81 | 3 | 4.3 | |||
General Distribution | 39 | 39 | (0) | (0.6) | |||
Others | 59 | 34 | (25) | (42.1) | |||
Operating Profit | 70 | 66 | (3) | (5.3) | |||
Marine Products | 21 | 41 | 20 | 95.5 | |||
Food Products | 51 | 36 | (14) | (28.9) | |||
Fine Chemicals | 10 | 8 | (1) | (15.7) | |||
General Distribution | 5 | 4 | (0) | (15.5) | |||
Others | 1 | 1 | 0 | 40.4 | |||
Common Costs | (19) | (26) | (6) | 36.2 | |||
Ordinary Profit | 74 | 73 | (1) | (1.5) | |||
Profit attributable to owners of parent | 51 | 42 | (9) | (18.4) | |||
3 | |||||||
Main factors for increase/decrease in operating profit (Y-on-Y)
- The marine products business benefited from strong market prices and increased profits. However, the food products business struggled due to the rise in raw material costs and the time lag in price increases.
- Common costs increased due to investment in rebranding penetration and other factors.
Marine Products Marine Products | Marine Products | Food Products Fine Chemicals Common costs | consolidation | |||
Fishery & | Aquaculture in | Processing | (including consolidation | adjustments | ||
Aquaculture | ||||||
South America | /Trading | Adjustments) | ||||
(Except for South | (including adjustment | |||||
American Aquaculture) | of unrealized profit) | |||||
Overseas 7 | Overseas(5) | (Unit: 100 million JPY) | ||||
Japan 4 | Japan(8) | |||||
Although the | Although there | Both in Japan | ||
was an impact | ||||
and overseas | ||||
selling price | ||||
of cost | ||||
are doing well | ||||
of domestic | ||||
increases due | ||||
due to the | ||||
aquaculture | ||||
to the fish | ||||
rising prices of | ||||
fish has risen, | ||||
disease | ||||
Marine | ||||
the cost has | ||||
outbreak, the | ||||
products. The | ||||
increased due | ||||
profit level was | ||||
Alaskan pollock | ||||
to red tide, | ||||
the same as | ||||
processing in | ||||
etc. | ||||
last year | ||||
North America | ||||
Domestic | ||||
because of the | ||||
increased profit | ||||
fishing was | ||||
return of | ||||
due to | ||||
firm, and | ||||
unrealized | ||||
depreciation | ||||
profits were | ||||
profits related | ||||
expenses and | ||||
increasing. | ||||
to inventories | ||||
decreased | ||||
in the previous | ||||
corona-related | ||||
fiscal year. | ||||
costs. | ||||
Profit declined | Although |
because price | exports of |
increases could | pharmaceutical |
not keep up | raw materials |
with the rapid | to the U.S., |
increase in | profit declined |
costs of raw | due to |
materials, etc. | problems at |
production |
plants and the impact of a decrease in sales of PCR test reagents.
To spread the rebranding inside and outside the company, we conducted corporate advertising and other measures.
4
Consolidated Balance Sheet (Y-on-Y)
Working capital increased compared to the end of the previous fiscal year.
The italic and bold figures mean increase/decrease, compared to the end of FY2021 | (Unit: 100 million JPY) |
Current Assets | 2,846 | 195 |
Cash and deposits | 145 | 7 |
Notes and accounts | 962 | 59 |
receivable | ||
Inventory | 1,536 | 95 |
Non-current Asssets | 2,449 | 42 |
Property, plant and | 1,495 | 41 |
equipment | ||
Intangible assets | 117 | 4 |
Investment and other | 836 | (3) |
assets | ||
Total Assets | 5,295 | 238 |
5
Current Liabilities | 1,946 | 167 | ||
Notes and accounts | 544 | 41 | ||
payable | ||||
Short-term borrowings | 980 | 148 | ||
Accrued expenses | 260 | 8 | ||
Non-current Liabilities | 1,174 | (18) | ||
Long-term borrowings | 919 | (29) | ||
Net Assets | 2,175 | 89 | ||
Shareholder's equity | 1,985 | 87 | ||
Equity Ratio | ||||
As of March | 37.5% ⇒ | As of June | 37.5% | |
2022 | 2022 |
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Nippon Suisan Kaisha Ltd. published this content on 04 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 August 2022 06:56:04 UTC.