Maruha Nichiro publishes financial results for the second quarter 2010, reports www.megafishnet.com with reference to Maruha Nichiro.
Consolidated Statements of Income ( Billions of Yen)
Sep 2009 | Sep 2008 |
Net Sales | 405.3 | 100.0% | 453.7 | 100.0% | (48.4) |
Cost of Sales | 351.9 | 86.8% | 394.3 | 86.9% | (42.4) |
Gross profit on Sales | 53.4 | 13.2% | 59.4 | 13.1% | (6.0) |
Expense | 49.0 | 12.1% | 50.6 | 11.2% | (1.6) |
Operating Income | 4.4 | 1.1% | 8.8 | 1.9% | (4.4) |
Non-operating Revenue | 2.0 | 2.2 | (0.2) |
Non-operating Expenses | 3.3 | 3.9 | (0.6) |
Ordinary Income | 3.1 | 0.8% | 7.1 | 1.6% | (4.0) |
Extraordinary Income | 1.4 | 0.7 | 0.7 |
Extraordinary Loss | 0.7 | 2.5 | (1.8) |
Income before Tax | 3.8 | 5.3 | (1.5) |
Taxes | 0.8 | 3.5 | (2.7) |
Minority Interest Income | 0.5 | 0.4 | 0.1 |
Net Imcome | 2.6 | 1.5 | 1.1 |
Result by Strategic Segment and Business Unit (Billions of Yen)
Net Sales |
Sep 2008 ± | Sep 2008 | ± |
Fisheries & Aquaculture | 12.6 | 16.5 | (3.9) | (1.2) | 0.3 | (1.5) |
North American Operations | 24.6 | 37.2 | (12.6) | (0.2) | 3.0 | (3.2) |
Marine Products Trading | 40.0 | 47.2 | (7.2) | 0.3 | 2.0 | (1.7) |
Marine Products Wholesaling | 149.2 | 164.8 | (15.6) | 0.1 | 0.4 | (0.3) |
Strategic Sales | 26.7 | 26.5 | 0.2 | 0.3 | 0.1 | 0.2 |
Marine Products Segment | 253.1 | 292.2 | (39.1) | (0.6) | 5.9 | (6.5) |
Frozen Foods Business | 58.5 | 57.5 | 1.0 | 3.2 | 1.7 | 1.5 |
Processed Foods Business | 40.8 | 44.1 | (3.3) | 1.8 | 1.3 | 0.5 |
Meat & Products Business | 20.4 | 24.9 | (4.5) | (0.3) | 0.5 | (0.8) |
Foods & Fine Chemical | 6.5 | 6.3 | 0.2 | 0.6 | 0.4 | 0.2 |
Asia & Oceania Operations | 13.0 | 14.6 | (1.6) | 0.9 | 0.3 | 0.6 |
Processed Foods Segment | 139.3 | 147.4 | (8.1) | 6.1 | 4.2 | 1.9 |
Storage & Logistics Segment | 7.7 | 7.5 | 0.2 | 0.6 | 0.5 | 0.1 |
Others | 5.3 | 6.6 | (1.3) | 0.3 | 0.4 | (0.1) |
Common Cost | 0.0 | 0.0 | (2.0) | (2.2) | 0.2 |
TOTAL | 405.3 | 453.7 | (48.4) | 4.4 | 88.0 | (83.6) |
Consolidated Balance Sheets (billions of Yen)
Sep 2009 | Mar 2009 | Sep 2009 | Mar 2009 | ± |
Current Assets | 273.5 | 266.8 | 6.7 | Current Liablities | 278.2 | 275.9 | 2.3 |
Cash and deposit | 16.9 | 22.5 | (5.6) | Account payable | 37.5 | 35.4 | 2.1 |
Trade notes and accounts receivable | 97.2 | 93.9 | 3.3 | Short-term loans payable | 205.0 | 204.5 | 0.5 |
Marketable Securities | 1.5 | 0.0 | 1.5 | Other current liabilities | 35.7 | 36.0 | (0.3) |
Inventories | 135.4 | 129.7 | 5.7 | Long-term liabilities | 167.8 | 167.7 | 0.1 |
Short-term loans receivable | 2.4 | 1.5 | 0.9 | Long-term loans payable | 128.7 | 129.1 | (0.4) |
Deferred income tax receivable | 6.6 | 6.4 | 0.2 | Other fixed liabilities | 39.1 | 38.6 | 0.5 |
Allowance for doubtful receivable | (1.0) | (2.1) | 1.1 | Total Liabilities | 446.0 | 443.5 | 2.5 |
Other current assets | 14.3 | 14.9 | (0.6) | Common Stock | 31.0 | 31.0 | 0.0 |
Fixed Assets | 253.8 | 254.6 | (0.8) | Capital surplus | 43.1 | 42.3 | 0.8 |
Tangible fixed assets | 149.5 | 149.3 | 0.2 | Treasury stock | (0.0) | (0.0) | 0.0 |
Intangible fixed assets | 27.5 | 28.4 | (0.9) | Shareholders' equity | 74.0 | 73.2 | 0.8 |
(Goodwill) 19.6 | (0.6) | Adjustment | (7.1) | (9.3) | 2.2 |
Investments and others | 76.8 | 76.9 | (0.1) | Minority interest | 14.4 | 13.9 | 0.5 |
Total shareholders' equit | 81.4 | 77.9 | 3.5 |
TOTAL | 527.3 | 521.5 | 5.8 | TOTAL | 527.3 | 521.5 | 5.8 |
Projection of March 2010 by Unit (Billions of Yen)
Operating Income |
2nd Half Projection | Projection | Initial Projection | 2nd Half Projection |
Fisherie & Aquaculture | 12.6 | 15.8 | 28.4 | 31.6 | (3.2) | (1.2) | 0J | (0.4) | 1.5 | (1.9) |
North American Operations | 24.6 | 24.6 | 49.2 | 53.4 | (4.2) | (0.2) | 0.4 | 0.2 | 2.6 | (2.4) |
Marine Products Trading | 40.0 | 48.6 | 88.6 | 96.0 | (7.4) | 0.3 | 0.9 | 1.2 | 3.2 | (2.0) |
flarine Products Wholesaling | 149.2 | 165.5 | 314.7 | 336.7 | (22.0) | 0.1 | 1.1 | 1.2 | 2.0 | (0.8) |
Strategic Sales | 26.7 | 29.1 | 55.8 | 51.3 | 4.5 | 0.3 | 0.3 | 0.6 | 0.4 | 0.2 |
Marine Products Segment | 253.1 | 283.6 | 536.7 | 569.0 | (32.3) | (0.6) | 3.3 | 2.7 | 9.7 | (7.0) |
Frozen Foods Business | 58.5 | 60.3 | 118.8 | 119.0 | (0.2) | 3.2 | 2.8 | 6.0 | 4.9 | 1.1 |
Processed Foods Business | 40.8 | 39.7 | 80.5 | 85.5 | (5.0) | 1.8 | 1.8 | 3.6 | 3.6 | 0.0 |
Meat & Products Business | 20.4 | 26.1 | 46.5 | 54.1 | (7.6) | (0.3) | 0.6 | 0.3 | 1.3 | (1.0) |
Foods & Fine Chemical | 6.5 | 7.0 | 13.5 | 13.6 | (0.1) | 0.6 | 0.6 | 1.2 | 1.0 | 0.2 |
Asia & Oceania Operations | 13.0 | 14.1 | 27.1 | 28.5 | (1.4) | 0.9 | 0.4 | 1.3 | 0.9 | 0.4 |
Processed Foods Segment | 139.3 | 147.1 | 286.4 | 300.7 | (14.3) | 6.1 | 6.3 | 12.4 | 11.7 | 0.7 |
Storage & Logistics Segmer | 7.7 | 8.1 | 15.8 | 16.1 | (0.3) | 0.6 | 1.0 | 1.6 | 1.6 | 0.0 |
Others | 5.3 | 5.9 | 11.2 | 14.2 | (3.0) | 0.3 | 0.1 | 0.4 | 1.1 | (0.7) |
Common Cost | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | (2.0) | _B | (4.0) | (4.1) | 0.1 |
TOTAL | 405.3 444.7 | 900.0 (50.0) | 20.0 | (7.0) |
Projection of March 2010
March 2010 Old Projection (Billions of Yen) | Semiannual Progress (%) | March 2009 Revised Proj (Billions of Yen) | Change (%) |
Net Sales | 850.0 | 48% | 900.0 | (6%) |
Operating Income | 13.0 | 35% | 20.0 | (35%) |
Ordinary Income | 9.0 | 36% | 15.0 | (40%) |
Net Income | 3.5 | 71% | 4.0 | (13%) |
