Maruha Nichiro's Second-Quarter Sales Drop
Maruha Nichiro Foods said yesterday that its second-quarter sales likely fell 8 percent, to $353.85 million, compared to the same three-month period last year, according to Asia Pulse.
The Japanese food conglomerate attributed the sales drop to the food-poisoning cases involving pesticide-tainted dumplings made in China and a drop in discount sales of canned products amid higher ingredient and raw material costs.
Maruha Nichiro Foods is a subsidiary of Maruha Nichiro Holdings, the world's largest seafood company. Formed last year when Maruha Group and Nichiro Corp. merged, the company owns eight U.S. Pacific Northwest seafood companies: Westward Seafoods, Supreme Alaska Seafoods, Alyeska Seafoods, Premier Pacific Seafoods, Peter Pan Seafoods and Golden Alaska Seafoods, all of Seattle; Orca Bay Seafoods of Renton, Wash.; and Trans-Ocean Products of Bellingham, Wash.