NICHIREI CORPORATION FY23/3 Second Quarter Presentation Material
November 1, 2022
Nichirei Corporation
Kenya Okushi
Representative Director, President
© Nichirei Corporation. All rights reserved.
Index
- First Half Results (Page 1-Page6)
- Full-yearForecast (Page 7-Page19)
- Initiatives for Sustainability Management (Page 20-Page22)
- Appendix (Page 23-Page 28)
Note: Figures shown in the graphs and charts in this document, if not otherwise indicated, have been rounded to the nearest unit. Certain figures have been rounded up or down to adjust for fractional amounts.
© Nichirei Corporation. All rights reserved.
First Half Results
© Nichirei Corporation. All rights reserved.
Consolidated Group Results
- Net sales rose 9% on steady performance of mainstay businesses
- Operating profit declined 8% despite price revisions and other measures, due mainly to an increase in procurement costs resulting from the weak yen, and higher food material and energy costs
- Overall results were mostly in line with plan, due to such factors as improvement in the Bioscience Business
- Profit was down 12%, due mainly to a decrease in gain on sale of investment securities
(Billion yen) | ||||||||
First Half | ||||||||
Results | YoY | Compared to Plan | ||||||
Variance | % Change | Plan | Variance | |||||
Net Sales | 321.8 | 27.3 | 9% | 309.0 | 12.8 | |||
Operating Profit | 14.7 | -1.3 | -8% | 14.8 | -0.1 | |||
Ordinary Profit | 15.0 | -1.2 | -7% | 15.1 | -0.1 | |||
Profit attributable to | 9.8 | -1.3 | -12% | 10.0 | -0.2 | |||
owners of parent | ||||||||
© Nichirei Corporation. All rights reserved. | 1 | |||||||
Net sales amounted to ¥321.8 billion, an increase of 9% from the same period of the previous fiscal year, on steady performance of mainstay businesses. Operating profit, despite higher results at overseas businesses, and the implementation of price revisions and other measures for the domestic business, declined 8% to ¥14.7 billion, due mainly to increases in procurement costs resulting from the weak yen, and higher food material and energy costs. Overall results were mostly in line with plan, due to such factors as improvement in the Bioscience Business. Profit was down 12% to ¥9.8 billion, due mainly to a decrease in gain on sale of investment securities.
Consolidated Group Results by Segment
(Billion yen) | ||||||||||
First Half | ||||||||||
Results | YoY | Compared to Plan | ||||||||
Variance | % Change | Plan | Variance | |||||||
Processed Foods | 135.3 | 14.6 | 12% | 135.0 | 0.3 | |||||
Marine Products | 32.5 | 0.8 | 3% | 24.5 | 8.0 | |||||
Meat and Poultry | 42.0 | 2.3 | 6% | 41.7 | 0.3 | |||||
Logistics | 119.2 | 9.5 | 9% | 114.9 | 4.3 | |||||
Real Estate | 2.3 | 0.1 | 5% | 2.2 | 0.1 | |||||
Other | 2.5 | 0.4 | 21% | 2.2 | 0.3 | |||||
Adjustment | -11.9 | -0.5 | - | -11.5 | -0.4 | |||||
Net Sales | 321.8 | 27.3 | 9% | 309.0 | 12.8 | |||||
Processed Foods | 6.2 | -0.6 | -8% | 6.6 | -0.4 | |||||
Marine Products | 0.1 | -0.5 | -77% | 0.1 | 0.0 | |||||
Meat and Poultry | 0.5 | -0.1 | -10% | 0.7 | -0.2 | |||||
Logistics | 7.2 | -0.6 | -8% | 7.4 | -0.2 | |||||
Real Estate | 0.9 | 0.1 | 9% | 0.9 | 0.0 | |||||
Other | 0.2 | 0.4 | - | -0.2 | 0.4 | |||||
Adjustment | -0.5 | -0.1 | - | -0.7 | 0.2 | |||||
Operating Profit | 14.7 | -1.3 | -8% | 14.8 | -0.1 | |||||
Ordinary Profit | 15.0 | -1.2 | -7% | 15.1 | -0.1 | |||||
Profit attributable to owners of parent | 9.8 | -1.3 | -12% | 10.0 | -0.2 | |||||
© Nichirei Corporation. All rights reserved. | 2 | |||||||||
This chart shows results by business segment.
The main factors for increase and decrease in operating profit are shown on the following page.
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Nichirei Corporation published this content on 22 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 November 2022 07:05:04 UTC.
