Maruha Nichiro publishes financial results for the second quarter 2010
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 | 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%) |