Umios Corporation · TSE:1333
Umios — Maruha Nichiro — FY2022 Earnings Presentation
49 slides from Umios's earnings presentation, May 24, 2023
Slide 1: Consolidated Financial Results for the Year Ended March 2023
Consolidated Financial Results for the Year Ended March 2023 (April 2022-March 2023） May 24, 2023 Maruha Nichiro Corporation （TSE：1333） Masaru Ikemi, Representative Director, President & CEO Copyright ©2023 Maruha Nichiro Corporation
Slide 2: Table of Contents
Table of Contents ■ Business Overview for the FY Ended March 2023 Pages 3 ～ 10 ■ Business Conditions and Measures for the FY Ending March 2024 Pages 11 ～ 17 ■ Review of the First Year of our Medium-term Management Plan Pages 18 ～ 29 “For the ocean, for life MNV 2024”. ■ Appendix Pages 31 ～ 48 Copyri
Slide 3: Business Overview for the Fiscal Year Ended March 2023
Business Overview for the Fiscal Year Ended March 2023 Copyright ©2023 Maruha Nichiro Corporation
Slide 4: Full-Year Financial Highlights
Business Overview for the FY Ended March 2023 Full-Year Financial Highlights Net sales significantly exceeded the annual plan, reaching 1 trillion yen for the first time since the merger, due to rising fish prices and price revisions for processed foods. Operating income, ordinary income, and profit
Slide 5: Points for Full-Year Financial Results
Business Overview for the FY Ended March 2023 Points for Full-Year Financial Results • In the Marine Products Biz Segment, although some marine product market prices declined in 4Q, strong performance up to 3Q made up for it, resulting in significant YoY increases in net sales and op. income. ➢ The
Slide 6: Factors of Increase/Decrease in Operating Income
Business Overview for the FY Ended March 2023 Factors of Increase/Decrease in Operating Income Increase Decrease Total (JPY in Billions) Strong sales Recovery in sales to food Increase in Increased cost Steady sales Increased Rising Increased Company- of major fish services and institutional product
Slide 7: Marine Products Business Segment
Business Overview for the FY Ended March 2023 Marine Products Business Segment 60% increase in op. income due to good performance through 3Q, including recovery in fish prices, rising market prices, and increased sales volume. Net Sales 183.0 128.8 146.5 140.2 (JPY in Billions) 114.8 145.1 Net Sales
Slide 8: Processed Foods Business Segment
Business Overview for the FY Ended March 2023 Processed Foods Business Segment Overall op. income declined 39% due to cost increases and lag in price revision in the Processed Foods Business Unit. Net Sales (JPY in Billions) 26.8 28.2 27.0 24.6 Unit Net Sales Operating Income 26.4 26.8 26.4 24.6 Mar
Slide 9: Foodstuff Distribution Business Unit
Business Overview for the FY Ended March 2023 Foodstuff Distribution Business Unit Overall op. income declined 21% due to cost increases and lag in price revision in the Foodstuff Distribution Net Sales Biz unit. 81.1 72.7 73.4 70.2 (JPY in Billions) 64.1 73.0 63.8 60.9 Unit Net Sales Operating Inco
Slide 10: Logistics Segment
Business Overview for the FY Ended March 2023 Logistics Segment Net Sales Op. income increased by 44% due to steady storage demand 4.3 4.4 4.6 4.3 (JPY in Billions) 4.2 4.2 4.4 3.8 Unit Net Sales Operating Income １Q ２Q ３Q ４Q Mar/23 Mar/22 Change YoY change Mar/23 Mar/22 Change YoY change Logistics 1
Slide 11: Business Conditions and Measures for Fiscal Year ending March 2024
Business Conditions and Measures for Fiscal Year ending March 2024 Copyright ©2023 Maruha Nichiro Corporation
Slide 12: Full-Year Forecast
Business Conditions and Measures for the FY Ending March 2024 Full-Year Forecast ⚫ Marine product prices remain high. As procurement costs continue to rise, we will pay attention to the inventory turnover. ⚫ Price revisions implemented in the previous FY will contribute to the food products business
Slide 13: Marine Products Business Segment
Business Conditions and Measures for the FY Ending March 2024 Marine Products Business Segment (JPY in Billions) Net Sales Operating Income Segment Unit YoY YoY Mar/24 Mar/23 Change Mar/24 Mar/23 Change change change Fishery Business 45.8 42.2 3.5 +8.5% 2.6 1.8 0.8 +46.6% Seafood Connection (Netherl
Slide 14: Processed Foods Business Segment
Business Conditions and Measures for the FY Ending March 2024 Processed Foods Business Segment Although the price revisions implemented in the previous FY were largely accepted, the business environment remain severe due to securing raw materials and increasing costs. Frozen food market in (％) (JPY
Slide 15: Foodstuff Distribution Business Segment
Business Conditions and Measures for the FY Ending March 2024 Foodstuff Distribution Business Segment Food service is on the road to recovery, but the environment of high costs continues. (JPY in Billions) Net Sales Operating Income (％) Food service industry market Segment Unit YoY YoY trends (net s
Slide 16: Logistics Segment
Business Conditions and Measures for the FY Ending March 2024 Logistics Segment Storage demand is recovering, but the environment of rising energy and labor costs continues. (JPY in Billions) Net Sales Operating Income Segment Unit YoY YoY Mar/24 Mar/23 Change Mar/24 Mar/23 Change change change Logi
Slide 17: Shareholder Returns
Shareholder Returns Taking into consideration the Company's business performance and financial position, we have increased the year-end dividend for the FY ended March 2023 by 10 yen per share. Basic Policy Stable generation of operating cash flow to reinvest in growth and Dividend Trends and EPS 36
Slide 18: Medium Term Management Plan: Review of the First Year
Medium term Management Plan “For the ocean, for life MNV 2024” Review of the First Year Copyright ©2023 Maruha Nichiro Corporation
Slide 19: Financial KGIs
Review of the First Year of the Medium-Term Management Plan Financial KGIs MNEV (Maruha Nichiro Economic Value) and other figures of FY ended March 2023 significantly exceeded the results of the previous year. Results for Forecast for FY Target for FY Results for FY ending March 2025 ending March 20
Slide 20: Capital and Strategic Investments
Review of the First Year of the Medium-Term Management Plan Capital and Strategic Investments (FY March 2023 Results + FY March 2024 Plan) In FY2023, strengthened access to North American pollock resources, which contributed to our business performance. FY ended Overseas Business Unit (N. American O
Slide 21: Priority Themes in Growth Driver Areas and Strategic Investments (1/2)
Review of the First Year of the Medium-Term Management Plan Priority Themes in Growth Driver Areas in the Medium-Term Management Plan and Strategic Investments (1/2) Promote strategic investments to expand overseas markets and strengthen the frozen foods, nursing care foods, fine chemicals, and pet
Slide 22: Priority Themes in Growth Driver Areas and Strategic Investments (2/2)
Review of the First Year of the Medium-Term Management Plan Priority Themes in Growth Driver Areas in the Medium-Term Management Plan and Strategic Investments (2/2) Key Themes in Growth Driver Areas Implementation Details for the FY ended March 2023 Increased subsidiaries in England, the Netherland
Slide 23: Seafood Production at a Peak and Growing Demand for Marine Products
Seafood Production at a peak and Growing Demand for Marine Products Utilization and Per Capita Consumption of World Capture Fisheries and Aquaculture Fisheries and Aquaculture products Production Year 1961 1990s (Avg.) 2000s(Avg.) 2010s(Avg.） 2018 2019 ２０２０ Per capita apparent 9.0ｋｇ 14.3ｋｇ 16.8ｋｇ 19
Slide 24: Status of Owned Fishing Concessions and Access Rights
Status of Owned Fishing Concessions and Access Rights 24 Copyright ©2023 Maruha Nichiro Corporation
Slide 25: Strengthening Access to Marine Resources
Strengthening Access to Marine Resources (Access to Wild-caught Fish) Acquisition of access rights to North American Alaska Acquisition of additional Snapper Fishing Rights and Pollock resources Additional Fishing Vessels at Austral Fisheries 22 In February 2022, we acquired a ・Acquired snapper fish
Slide 26: Strengthening Access to Marine Resources (Aquaculture)
Strengthening Access to Marine Resources (Aquaculture) Entry into land-based Atlantic salmon Continuous development and Egg-to-harvest aquaculture of aquaculture business breeding of artificial seedlings amberjack and yellowtail Image of land-based aquaculture Stable and efficient Low/Decarbonizatio
Slide 27: Strengthening Access to Marine Resources (Procurement)
Strengthening Access to Marine Resources (Procurement) Our group procures marine products from 25 of the world's 27 major fishing areas designated by FAO. We have a global network that spans 70 countries and regions. Sold to GMS, SM, restaurants, lunch services, CVS channels, co-ops, etc. 27 major A
Slide 28: Business Development of Nursing Care Foods
Review of the First Year of the Medium-Term Management Plan Business Development of Nursing Care Foods Domestic food market for nursing care foods business is growing year by year and is projected to exceed 150 billion yen by 2026. The "kizami (minced), mixer (blended), and soft food" field, which i
Slide 29: Topics: Launch of Nursing Care Food Business in China
Review of the First Year of the Medium-Term Management Plan Topics: Launch of Nursing Care Food Business in China (March 2023) To the Chinese market where the population is rapidly aging. Introduced nursing care foods that are soft enough to be crushed with the tongue at general hospitals and other
Slide 30: Thank You
Thank You Copyright ©2023 Maruha Nichiro Corporation
Slide 31: Appendix
Appendix Copyright ©2023 Maruha Nichiro Corporation
Slide 32: Sustainability Strategy Initiatives (Case 1)
Appendix: Review of the First Year of the Medium-Term Management Plan Sustainability Strategy Initiatives (Case 1) List of Materiality KPI, KGI Targets Materiality② Contributing to a recycling-oriented Materiality① Action for Climate Change society Efforts to Reduce CO₂ Emissions Initiatives to Redu
Slide 33: Sustainability Strategy Initiatives (Case 2)
Appendix: Review of the First Year of the Medium-Term Management Plan Sustainability Strategy Initiatives (Case 2) List of Materiality KPI, KGI Targets Materiality ②Contributing to a recycling-oriented society, Materiality ③ Action for marine pollution by ③ Action for marine pollution by marine plas
Slide 34: Sustainability Strategy Initiatives (Case 3 + SeaBOS)
Appendix: Review of the First Year of the Medium-Term Management Plan Sustainability Strategy Initiatives (Case 3 + SeaBOS) List of Materiality Materiality ⑧ Respect for human rights in KPI, KGI Targets business operation Survey of the management status of foreign technical intern The Maruha Nichiro
Slide 35: Strengthening Business Foundation for Sustainable Growth
Appendix: Review of the First Year of the Medium-Term Management Plan Strengthening Business Foundation for Sustainable Growth Copyright ©2023 Maruha Nichiro Corporation 35
Slide 36: Active Investment in Human Resources
Appendix: Review of the First Year of the Medium-Term Management Plan Active Investment in Human Resources To strengthen the organization and human resources with the goal of “cultivating changemakers for a new era.” HR Enhancement HR Development Visualization and utilization of HR Engagement Manage
Slide 37: Active Investment in HR (Strengthening Human Capital (1/2))
Appendix: Review of the First Year of the Medium-Term Management Plan Active Investment in HR (Strengthening Human Capital (1/2)) Engagement Diversity Factors that increase employee engagement Promote Diverse HR Promotion of D&I (1) Build a management system that respects individual <Male: female ra
Slide 38: Active Investment in HR (Strengthening Human Capital (2/2))
Appendix: Review of the First Year of the Medium-Term Management Plan Active Investment in HR (Strengthening Human Capital (2/2)) Health Management Promotion of Health Management and Well-being (1) We hold an in-house event, the “well-B Challenge,” every year. ・Work to improve lifestyle-related dise
Slide 39: Active Investment in HR (HR development / visualization and utilization of HR)
Appendix: Review of the First Year of the Medium-Term Management Plan Active Investment in HR (HR development / visualization and utilization of HR) Management Personnel Global HR / DX HR Development Providing Growth Opportunities Global Human Resources Development Program ・Human resources are selec
Slide 40: Strengthen Corporate Branding (Case 1)
Appendix: Review of the First Year of the Medium-Term Management Plan Strengthen Corporate Branding (Case 1) Strengthen communication of “value provided by the brand” by proposing “diverse values of fish” <Corporate Commercials> Corporate commercial that started airing in March 2022 "Happiness in t
Slide 41: Strengthen Corporate Branding (Case 2)
Appendix: Review of the First Year of the Medium-Term Management Plan Strengthen Corporate Branding (Case 2) <”Sakana Cross”>(a project that champions the diverse value of fish by exploring its connection to topics like sports, technology, and sustainability. <Official partner of DeNA Sports (Yokoha
Slide 42: Developing Foundation for promoting DX and Utilizing Digital Technology
Appendix: Review of the First Year of the Medium-Term Management Plan Developing Foundation for promoting DX and Utilizing Digital Technology ・The DX Promotion Committee, chaired by the Representative Director, President was established. ・ Conducted an awareness survey of all employees in July 2022
Slide 43: Consolidated Statement of Income
Appendix Consolidated Statement of Income (JPY in Billions) Mar/23 Mar/22 Change Remarks Net Sales 1,020.5 866.7 153.8 Cost of Sales 885.2 746.2 139.0 Gross profit 135.3 120.5 14.8 Expense 105.7 96.7 9.0 Operating Income 29.6 23.8 5.8 Non-operating Revenues 7.3 6.0 1.3 Foreign exchange gain (2.3) No
Slide 44: Consolidated Balance Sheet
Appendix Consolidated Balance Sheet (JPY in Billions) Increase in Assets (88.6 billion Mar/23 Mar/22 Change Remarks JPY) Current assets 392.6 324.3 68.3 Cash & deposit (+8.7), trade notes & accounts receivable (+16.4), ・ Increase in trade notes & inventories (+44.0) accounts receivable due to strong
Slide 45: Consolidated Statements of Cash Flows
Appendix Consolidated Statements of Cash Flows (JPY in Billions) Mar/23 Mar/22 Change Main contents Net income before taxes and adjustments 31.5 Depreciation and amortization 15.1 Decrease(Increase(-)) in trade accounts receivable -9.8 Cash flows from operating activities -0.0 19.2 -19.3 Decrease(In
Slide 46: Results for the FY ended March 2023 (by segment/unit)
Appendix Results for the FY ended March 2023 (by segment/unit) (JPY in Billions) Net Sales Operating Income Segment Unit Full year Full year Mar/23 Mar/22 Change 4Q/Fyf Mar/23 Mar/22 Change 4Q/Fyf Forecast Forecast Fishery Business 42.2 31.5 10.8 39.5 +6.8% 1.8 0.3 1.5 1.5 +17.8% Aquaculture Busines
Slide 47: Forecast for the FY ending March 2024 (by segment/unit)
Appendix Forecast for the FY ending March 2024 (by segment/unit) (JPY in Billions) Net Sales Operating Income Segment Unit YoY YoY Mar/24 Mar/23 Change Mar/24 Mar/23 Change change change Fishery Business 45.8 42.2 3.5 +8.5% 2.6 1.8 0.8 +46.6% Aquaculture Business 14.2 15.9 -1.6 -10.5% 0.2 1.6 -1.4 -
Slide 48: Overseas Net Sales for the FY ended March 2023
Appendix Overseas Net Sales for the FY ended March 2023 FY ending FY ending FY ended FY ended FY ended FY ended March 2025 Overseas March 2025 Overseas March 2022 March 2023 March 2022 March 2023 （Forecast) Net sales （Forecast) Net sales 160.6 235.4 215.0 ratio billion JPY billion JPY billion JPY 18
Slide 49: This material has been designed as part of Maruha Nichiro's public relations and IR
This material contains forward-looking statements, including projections, plans, policies, management strategies, targets, schedules, understandings and evaluations, about Maruha Nichiro and its group companies that are not historical facts. These forward-looking statements are based on current fore