Japan-based Maruha Nichiro’s overseas operations did well in the company’s 1Q, contributing to a total net income that beat the same quarter from last year.
Total net income, according to the company’s report, was JPY 3.9 billion (USD 38 million, EUR 28.5 million), up from the JPY 2.8 billion (USD 27.3 million, EUR 20.5 million) recorded in 1Q last year.
Part of the increase comes from a boost to the company’s overseas unit, which went from JPY 9 billion (USD 87.9 million, EUR 65.9 million) in net sales in 1Q last year to JPY 11.6 billion (USD 113.3 million, EUR 84.9 million). The company credited brisk sales in canned seafood from Thailand as a factor.
Sales of pollock roe and surimi were up in North America, leading to growth there both in net sales and operating income, which also contributed to the upswing.
At home, the company slumped particularly in its marine products trading unit, which saw a decrease of JPY 200 million (USD 2 million, EUR 1.5 million) in operating income. The company blamed a weaker yen and a drop in sales for “luxury items.”
