Company Profile - ニッスイ商品情報サイト ... · Nissui has been executing the mid-term...

Novemver 2017

http://www.nissui.co.jp/english/

Company Profile

Co n t e n t s

Nissui’s Today

02 CEO Message

03 Our Founding Principles / Declaration on Action of CSR

05 Global Links and Global Supply Chain

07 Nissui by the numbers

09 Marine Products Business

11 Food Products Business

13 Fine Chemicals Business

15 Food with Function Claim

17

Nissui’s Future

19 Mid-Term Business Plan MVIP 2017

Nissui’s “Init iatives supporting growth”23 Research and Development

25 Environmental Activities

27 Food Safety

28 Social Activities

Nissui’s Management Structure

29 Company Profile and History

31 Executive Team

33 Organization

34 Office Locations

35 Domestic Group Companies

36 Overseas Group Companies

37 Corporate Governance

Nissui’s Financial Data

39～ Financial Topics

General Distribution, Marine-related and Engineering Businesses

CEO Me s s a g e

Inheriting “NISSUI’s genes,”

and aiming for further growth

President & CEO,Nippon Suisan Kaisha, Ltd.

01 02Nissui Company Profile 2017Nissui Company Profile 2017

Nissui has been conducting business for more than

100 years owing deep grat i tude to mar ine

resources at every moment based on our founding

principles, "A tap water supply system is exactly

what marine products should be like in production

and distribution". History of Nissui which started

with only one fishing vessel has been filled with

distress. During and after world warⅡ and during

Japan's economic boom and 200 miles EEZ period,

we have continued transforming business structure

coping with the change of the times. In addition,

Nissui is responding to sustainability of marine

resources and preservation of the earth environment

as important issues at this time.

Nissui has been executing the mid-term business

plan "MVIP 2017" aiming at achieving further

growth and the increase of corporate value for 3

years from 2015 to 2017. Nissui holds out the

goals including "to be the manufacturer with

differentiated and unique technologies coping with

the changes" and "contributing to the society

widely by promoting the management based on

CSR as well as enhancing corporate vales through

strengthening financial structure". We will make a

concerted and group wide effort to achieve the

goals. Thankfully, financial performance until 2016

has been strong and we would like to express our

heartfelt thanks to the customers and stakeholders

supporting Nissui.

Nissui, whose business relies on the bounty of

nature, will champion the sustainable utilization of

marine resources and the preservation of the earth

environment, continue to create diverse values

from resources, including marine resources, and

provide individual consumers with safe and high

quality products thus helping them to maintain a fit

and healthy lifestyle.｠

We sincerely appreciate your continued understanding

and support.

September 2017

FounderIchiro Tamura

A person of meritKosuke Kunishi

03 04

Declaration on Action of CSR

The Nissui Group will appreciate the earth and the sea, and create diverse values from 5 genes (mission, innovation, hands-on approach, global, and value the customers) inherited since its foundation and try to solve social issues through the business activities.

For the business partner For environment For the shareholder For societyFor the customer For the employee

Our Founding Principles

Following the founding principles and the basic management

policy handed down through its 100-year history,

Nissui aims to become a manufacturer that brings tastiness

and fun as well as health and beauty from the earth and the sea.

Water is to the water service is what marine resources are to the production and supply of marine products.

We will champion the sustainable utilization of marine resources and the preservation of the

earth environment, continue to create diverse values from resources, including marine resources,

and provide individual consumers with safe and high quality products thus helping them to

maintain a fit and healthy lifestyle.

Basic Management Policy

Create a global value network of resources including marine resources.

Focus on R&D and marketing, and aim to create value and functions from the viewpoint of ordinary citizens.

Embrace the vision of entrepreneurs and engage in various innovations.

Utilize the resources of the earth and the sea in a sustainable and effective way and respect the environment.

Fulfill our corporate social responsibility and enhance our brand value.

NISSUI’sgenes

Innovation

Hands-onapproach

Miss ion

Customer-Orientation

Global

Nissui Company Profile 2017Nissui Company Profile 2017

Nissui’s Today

Nissui’s Future

Nissui’s

“Initiatives

supporting growth”

Nissui’s

Managem

ent StructureNissui’s

Financial Data

・We provide safe and secure high quality products which are valuable for the customers.

・We utilize bounty of the sea and provide the delights of foods and the rich and healthy lives through the innovation.

・We act in accordance to the norms of the society with sound ethics and aim to build a socially trusted company.

・We respect diverse values and individualities, and achieve growth through teamwork by learning from others.

・We maintain fair and clean business relationship with all of our business partners.

・We try to build mutual trust-ing relationship with business partners and seek a sustainable society with them.

・We work hard to reduce envi-ronmental burdens and preserve natural environment and bio diversity.

・We recognize that our business is relied on the bounty of the earth and the sea, and work hard to utilize resources in a sustain-able manner.

・We operate in a transparent manner and improve disclo-sure of information.

・We try to enhance corporate value and continue a proper distribution of pro�t to the share-holders through stable business growth.

・We work hard to develop local society and cultivate next gen-eration through the knowledge and the technology of the Nissui Group.

・We respect diverse cultures and customs in the world and try to contribute to keeping the local society alive with the develop-ment of our business.

Backed by these Global Links and Local Links, Nissui has been able to expand and improve its global supply chain. The synergy generated from each process from resources to products has made it possible for Nissui to supply high value-added products and develop businesses that are not limited to foods but go beyond the existing framework into such areas as feed, chemicals and pharmaceuticals.

he Nissui Group has expanded its business bases throughout the world. This was achieved as a result of Nissui working in cooperation with other countries having resources and establishing a mechanism of global direct access to marine resources since the 1970’s. These bases for production, processing and sales mutually coop-erated to become the “Global Links” that bring marine resources to the tables of our customers around the world. Furthermore, in 2007 Nissui added to its business model the concept of “Local Links” that connects the vari-ous functions of each region.

We access marine resources around the world in cooperation with Group companies and partners.

Product （Primary Processing）

Fish is immediately made into surimi or fillets at an onshore plant or at sea immediately after being caught.

Products are sold widely around the world, in Japan, North America and Europe.

Surimi and fillets are processed into various food products.

Resources Product （Secondary Processing） Delivered to markets worldwideGlobal Supply Chain

NAL Perú

South America

North America

Europe

Japan

Model case

Integrated Fishery Business

Fish paste (Surimi) and White-meat fish Products

Asia /Oceania

Global L inks and Global Supply Chain

T

05 06

Nissui’s Today

Nissui’s Future

Nissui’s

“Initiatives


Nissui’s

Managem


Financial Data


Every employee of the Nissui Group is dedicated to enhancing their awareness of ethics, the envi-ronment and quality assurance and becoming a company trusted by society.

8,722 peopleConsolidated Employees

Sales Amount635.9

Nissui engages in businesses including the Marine Products, Food Products and Fine Chemi-cals Businesses through coop-eration with Group companies.

billion yen

07 08

As of March 31,2017

1911Start of BusinessIn 1911, Ichiro Tamura established the Tamura Steamship Fishery Company in Shimonoseki. In the same year, Kosuke Kunishi completed con-struction of Minato-Maru at the shipyard of Smiths Dock Shipyard in England. Since then, we have been connecting the tasty bounties of the seas around the world with the tables of our customers for more than a century.

Nissui by the numbers

Group Companies　96companies

Nissui engages in various businesses at each of its busi-ness locations supported by the Global Links that extend throughout the world and the Local Links that organically link the distinctive characters of each region.

Amid the growing demand for marine resources in the over-seas markets, Nissui has been enhancing its presence as a supplier of global fish species, including shrimp, white fish, salmon and trout.

Ratio of the Overseas Sales to the Total

Nissui’s Today

Nissui’s Future

Nissui’s

“Initiatives


Nissui’s

Managem


Financial Data


0

200

400

600(billion yen)

FY2015 FY2016FY2014FY2013FY2012

29.7％The Nissui Group’s global network covers 26 countries and regions around the world. By utilizing Global Links, which efficiently con-nects the world’s marine resources with the markets, and Local Links, which captures the unique functions of each region, Nissui provides products capable of enhancing values for customers.

26A global network of

countries and regions

Annual sales volume of salmon and trout

30,000More than tons

Salmon/Trout business accounts for nearly 25% of total Marine Products Business sales of non-consolidated Nissui. Annual sales volume amounts to more than 30,000 MT and sales amount is more than 30.0 billion yen with both wild catch and farmed Salmon/Trout.

In 1989, Nissui became the first in the industry to sell Yaki-onigiri (grilled rice balls), a frozen prepared food for household use. More than 100 million pieces of grilled rice ball were sold in the fiscal year ended March 2013.

100More than

Yaki-onigiri (grilled rice balls) sold

million

The entire Group has been making every effort to lessen the environmental burden and reduce the volume of waste, water usage and CO2 emission, and has been striving to acquire and maintain the international standard of ISO14001.

60 business locations

The number of business locations, which have acquired ISO14001 certification

Marine Products Business

●Sales Ratio in Marine Products Business

*Amounts of less than ¥100 million are omitted.*From FY2015, some businesses shifted between Fisheries and Food Products Business.

*Amounts of less than ¥100 million are omitted.From FY2015, some businesses shifted between Fisheries and Food Products Business.

●Operating Income in Marine Products Business［billion yen］

FY2015FY2014

2

4

0

8

6

4.4

FY2016

7.9

6.2

●Sales in Marine Products Business

0

50

100

150

200

250

300

FY2014

284.8

FY2015

272.7

FY2016

265.8［billion yen］

265.8

45.0%

11.0%

38.5%

5.5%

■ Japan

■ Overseas

In North America, UniSea is engaged in procure-ment and primary processing of white fish. In South America, EMDEPES is engaged in fishery and Salmones Antartica is engaged in Salmon/Trout farming in Chile.While Sealord is engaged in fishery as a base of marine resource access in New Zealand, Nordic Seafood plays an important role as the Group’s sales base in Europe.

09 10

We are creating new value for marine resources by performing vertically-integrated operations from fishery and aquaculture to processing and sales.Nissui’s Marine Products Business with the cooperation of the worldwide network of Global Links and Local Links has strived to deliver safe, secure and delicious fish at all times by performing vertically-integrated operations including fishery, aquaculture, pro-cessing and sales through the stages from access to marine resources to delivery to the tables of our customers. In addition to the supply of fresh and frozen fish, we have improved our technology for making the most of fat (fish oil), fish meal (fish meal and feed for aquaculture) and other marine resources, and are pursuing new values.Currently, we are engaged in the aquaculture of various fish species including tuna, yel-lowtail buri, salmon and trout, while at the same time conducting studies in breeding, fish diseases and feed at the Oita Marine Biological Technology Center, with the aim of increasing the advancement of our aquaculture technology.

Board Member, Senior　Managing Executive Officer　Commissioned Fisheries Business Operating Officer

Akiyo Matono

billion yen

billion yen

billion yen

billion yen Aquaculture37.4

Processing/Trade152.8

Non-consolidated130.6

*Percentages are calculated after deducting intersegment eliminations. *Amounts of less than ¥100 million are omitted.

Fishery18.7

（FY2016）

Consolidated net sales

billion yen

Fishery

Aquaculture

Processing / SalesKuroseSuisan

YumigahamaSuisan Hakata Marukita

Suisan

In Japan, Nissui engages in fishery including off-shore trawling as well as aquaculture of its famous “Wakaburi Kurose Yellowtail Buri”, Tuna and Coho Salmon. Also, in addi-tion to the sales of frozen and fresh fish, Nissui works positively to add value to sea-food such as processing including pickling and grilling.

UniSea

EMDEPES

SalmonesAntártica

Nordic Seafood

Sealord


Nissui’s Today

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KyowaSuisan

Food Products Business

●Sales Ratio in Food Products Business



●Operating Income in Food Products Business

●Sales in Food Products Business

0

50

100

150

200

250

300

FY2014


［billion yen］

FY2014

2

4

0

10

6

8

FY2015

302.3

FY2016

304.4

FY2015

10.1

FY2016

11.1

304.453.7%

18.5%

27.8%

*Percentages are calculated after deducting intersegment eliminations. *Amounts of less than ¥100 million are omitted.

11 12

757.5

To make foods tastier and more convenient:We continue to create diverse value for everyoneThe Food Products Business is engaged in the production and sales of frozen pre-pared foods for household and food service, shelf-stable foods, and fish sausage and surimi-based products, among others. The business continues to grow by consolidat-ing the Group’s product development functions and its strengths in processing and production technology. The Nissui Group has also been involved in overseas production and sales from an early stage, and has Group companies in the US and France. The combination of these overseas production bases and domestic production bases make up the global supply chain.

Board Member, Executive Officer　Commissioned Food Products Business Operating Officer

Shingo Hamada

（FY2016）

billion yen


Processing112.6

Chilled75.1

Non-consolidated217.3 billion yen

billion yen

billion yen

Simple and convenient

■ Japan

Healthy

Prepared foods for dinner

Tastiness

Nissui tries to improve the quality of longtime sellers including frozen food, shelf-stable food, surimi-based products and seafood sausage. Nissui also make effort to develop and launch new products in response to various changes such as population structure, social trend, and consumer attitude.

Gorton'sCité Marine

King & Prince SeafoodNissui has been expanding overseas markets aggressively, with Gorton’s, the No.1 brand in retail prepared frozen seafood category in the US. ,and with Cite Marin, a leading com-pany of chilled seafood category in France.


Nissui’s Today

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■ Overseas

Fine Chemicals Business

Hokkaido Fine Chemicals

Transported in domestic tankers

Peru

Chile

EPA is imported from Peru and others.

Sardine oil which is the key raw ingredient of

■ To ensure that our customers get only safe and reliable EPA products, 　 Nissui does everything from the procurement of raw fish oils to the 　 manufacture of refined oils within the Group.

＊1 HACCP（Hazard Analysis and Critical Control Point）＊2 GMP（Good Manufacturing Practice）

To ensure the safe manufac-ture of products, the raw fish oil is stored in dedicated fish oil tanks set up in Japan.

At EU/HACCP*¹ and GMP*²- certified factories, and using technologies developed by Nissui, the oil is processed into high-purity oil, fish tastes and smells are removed, and any dioxins or other pollutants are removed.

Nissui, which has been trying to make the most of marine resources since its foundation, rea l i zed the benefit o f EPA through the co l laborat ion wi th un ivers i t ies and pharmaceutical companies since the 1980s, and developed and commercialized the technology of high-purity EPA in 1990.Nissui is supplying EPA as a pharmaceutical ingredient and an industrial material as well as for consumers as health food and food for specific health use now.Nissui is also handling specific materials from marine resources including DHA, N-acetyl glucosamine, and Orange Roughy oil which are utilized in the various fields.

13 14

EPA, which first gained attention as a result of epidemiological research on the Inuit people in the 1970 in Denmark, is a fatty acid belongs to Omega 3, which is difficult for human body to synthesize and needs to consume as food. Since its participation in the epidemiological research in Japan in the 1980s, Nissui had studied and developed various efficacy of EPA and the technology of purification of fish oil derived from Anchovy. EPA was certified as a treatment of arteriosclerosis obliterans in 1990 and of hyperlipidemia in 1994. In addition, Nissui developed the technology and succeeded in the world's first high-purity EPA production. While providing EPA as a pharmaceutical ingredient, Nissui has been developing its technology in processing EPA into various food products including health food such as supplement, food for specific health use, and food with function claim. In 2012, the 30th of each month the following day of 29th (ni ku no hi in Japanese) was certified as a day of EPA.

■ Engagement in EPA for nearly 30years

*Amounts of less than ¥100 million are omitted.

●Sales in Fine Chemicals Business

0

5

10

15

20

25

30

FY2014

25.3

FY2015

25.6

FY2016


*Amounts of less than ¥100 million are omitted.

●Operating Income in Fine Chemicals Business［billion yen］

FY2015

2

4

0

8

6

4.6

FY2016

3.9

FY2014

4.5

We have been utilizing and producingchemical products derived from marine resourcesincluding EPA (eicosapentaenoic acid)which is rich in pelagic fish like Sardineand has the effect of preventing arteriosclerosis.

Board Member, Managing Executive Officer

Commissioned Fine Chemicals Business Operating Officer

Yoichi Sekiguchi


Nissui’s Today

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Financial Data

Nissui Kashima PlantNissui Tsukuba Plant

15 16

This product contains EPA/DHA. It is officially reported that EPA/DHA have an effect to decrease serum triglyceride level.Submitted Claim


Nissui’s Today

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amount of EPA/DHA contained in a product . One ★corresponds to 150mg of EPA/DHA and six ★ corresponds to daily recommended dose of EPA/DHA.

New brand, “EPA-Life,health life from the sea”Nissui proposes new brand of food with function claim “EPA-Life”. Nissui provides a wide range of products for consumers to take EPA/DHA more casually every day. By using ★to indicate the

Food with Function Claim

Let’s start tasty &healthy habits!!

START !

Dinner Snack

LunchBreakfast

GOAL !

Aim to take 900 mgof EPA/DHA per day.

Shelf Stable Foods

SupplementsFish Sausage

Surimi based ProductsFrozen prepared Foods

*Source the JPHC Study conducted on Japanese.

Ocean-Exploration Ship (Nissui Marine Industries Co., Ltd.)Other Business

0

5

10

15

20

25

30

FY2015

［billion yen］［billion yen］

FY2015

0.5

1

0

2

1.5

FY2014

*Amounts of less than ¥100 million are omitted. *Amounts of less than ¥100 million are omitted.

●Operating Income in Logistics Business●Sales in Logistics Business

0

5

10

15

20

25

30

FY2015

15.1

［billion yen］［billion yen］

FY2015

0.5

1

0

2

1.5

1.8

FY2015

1.7

FY2016

15.9

FY2014 FY2014

1.6

*Amounts of less than ¥100 million are omitted. *Amounts of less than ¥100 million are omitted.

●Operating Income in Marine-related and 　Engineering Businesses

●Sales in Marine-related and 　Engineering Businesses

Nissui covers a wide range of businesses includingship building, vessel operation and training of the crew.

Nissui has network of cold storages across the countrywhich has storage function of both refrigeratedand refrigerant temperature zone. The marine-related business is engaged in the building and repairing of ships, and commissioned management

and operation of marine survey and deep-sea research vessels and vehicles by utilizing its human resources and marine-related technologies acquired over the years. The engineering business is engaged in the planning, design and production of plant and equipment machines in the food processing-related segment, and the planning, design and construction of marine products processing and food plants, and distribution and cold storage facilities.

21.2

FY2016

23.8

0.6

FY2016

0.6

FY2014

17.0

0.8

17 18

14214.2

Nippon Survival Training Center (NSTC), which was established by Nissui Marine Industries, a Group company, is the first private sector marine survival training facility in Japan. In order to minimize human casualties and accident damage from marine accidents, NSTC offers various training programs including helicopter water-escape training, marine survival training, initial firefighting training and evacuation procedure training to the firefighting air squadrons of the prefectures as well as companies and organizations engaged in marine businesses. In 2011, NSTC received certification by OPITO (the Offshore Petroleum Industry Training Organization), which was established in the UK, and in March 2014, was the first facility in Japan to receive from the Nippon Kaiji Kyokai (ClassNK) basic training certification stipulated in the STCW Convention.

■ Marine survival training facility 　 based on global standards

Nippon Marine Enterprises, Ltd., a Group company, has been commissioned by the Japan Agency for Marine-Earth Science and Technology (JAMSTEC) to operate and manage its marine survey and deep-sea research vessels and vehicles, and has been contributing to the resolution of global environmental problems, and to improving earthquake tidal wave research and resource exploration technology. Nippon Marine Enterprises, Ltd. operates the world-class, manned research submersible, Shinkai 6500, which is capable of maximum depths of 6,500 m, investigates earthquakes, supports marine research and processes observation data, among other operations.Immediately following the Great East Japan Earthquake, it collected water in order to study underwater topography and the radiation of seawater, and installed and collected underwater seismographs.

■ Contributing to marine survey and 　 research by leveraging the knowledge 　 accumulated over the years

Helicopter water-escape trainingFree-fall and davit life boats Manned research submersible, Shinkai 6500 owned by JAMSTECPhoto by JAMSTEC


Nissui’s Today

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■ Oosaka-Maishima Logistics Center was established　 to reinforce and expand cold storage distribution　 in the Kansai area.

Nissui Logistics Corporation Oosaka-Maishima Logistics Center

Nissui Logistics Corporation, a Group company, newly constructed the Oosaka-Maishima Logistics Center in the North Port of Oosaka Bay in Mar.2016.

R&D: Enhance development function, sophistication of aquaculture, production line optimization

QA: Drive Food Defense CSR: Corporate Governance, Corporate Brand

Engineering LogisticsMarine Business

Figures to reach for in Mid-Term Business Plan “MVIP 2017” (KPI)

Target figure in FY2017

Consolidated net sales 680

morethan

morethan

billionyen

billion yen

Consolidated operating income

EBITDA

2341.5

Loan payable 240

Equity ratio 25％ROA 3.5％

Upgrading and expanding of EPA business and challenge of new application and medicine

Sophistication in aquaculture

Expansion of seasoning and seafood extract business

Growth in overseas salesUtilization of functional lipid material

Evolution and deepening of deli-style product and value added seafood products

Areas in which the fusion of business will be promoted

Food Products Business Marine Products Business Fine Chemicals Business

On Line Business Fish Oil

Marine ProductsBusiness

・Sophistication of aquaculture・Expansion of salmon farming・Commercialization of shorter-term aquaculture

・Expanding medicine・Global expansion of functional material・Increase functional food

Food ProductsBusiness

・Grow No.1 category・Deli-style product in new category

・Seasoning・Salmon ・Roe・Coastal �sh・Value added seafood・HMR, menu・New usage of Surimi・Overseas sales

Fine ChemicalsBusiness

Aim to be a manufacturerwith unique technologies which can differentiate in response to environmental changes

Reinforcement points of the three major businesses and their fusion areas

Mid-Term Business Plan

Basic PolicyIn the Mid-Term Business Plan “MVIP 2017,” Nissui aims to be a manufacturer with unique technological capabilities which can differentiate in response to environmental changes. To this end, Nissui will engage in initiatives, namely, to invest positively for growth, to reinforce the capability for marine resource access, to provide health functional foods and high value-added foods, and to expand its overseas performance. In addition, Nissui will promote management based on CSR and will contribute widely to society as well as increase corporate value by improving its financial strength under the five Nissui’s genes of “ mission,” “innovation, ” “hands-on approach,” “global” and “customer-orientation,” which it had inherited since its foundation.

Major Business StrategiesFirst of all, in addition, to reinforcing the individual businesses of Marine Products, Food Products and Fine Chemicals, Nissui will fuse the businesses in the boundary areas, in order to generate even greater results. Moreover, by further refining the Fine Chemicals Business, Nissui will realize its steady growth.

*Exchange rate: US$1=120 yen, EUR1=146 yen*ROA = {Net income + Interest expense × (1 - effective tax rate)}/ {(Total assets in the end of the previous fiscal year + Total assets in the end of this fiscal year)/ 2}

MVIP 2017

We will make value through innovation.

Make Value through Innovative Plan Most Valuable Impressive PlayerWe hope that each of us will become

a valued existence for society and company, for whom people will feel sympathy.

19 20

Mid-Term Business Plan MV I P 2017


morethan

morethan

morethan

billion yen

lessthan

billionyen

・Cross over the boundary of 3 Businesses・Grow through Integration & collaboration

Explore the field for growth based on our fundamental strength with more robust profit base

Show the significant presence in health food with competit ive Functional Lipid R&D technology and EPA information assets

・Enhance resource access ability and maximize value・Evolve into the business struc-ture producing stable profit

Food with

FunctionClaim

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Financial Data

President & CEO,Nippon Suisan Kaisha, Ltd. Shinsuke Ohki

70.0

22.0

19.410.9billion

yen

7.010.9

21 22

In preparation for the expansion of the pharmaceutical markets both in Japan and overseas, we will double production capacity, as well as realize world-level quality and productivity through the adoption of new facilities. We will also enable pro-duction using various raw materials by adopting the latest cGMP* production controls and accelerating our overseas business expansion.

Major Growth Strategies

Aim to become the World No. 1 drug substance producer of medical EPA

We will utilize the system of Food with Function Claim in all of our businesses categories

Pharmaceuticals

Kashima PlantNew Plant

Led by the Functional Foods Department, we will develop Food with Function Claim in all Nissui categories. At the same time, we will expand and continue to develop foods with par-ticularly strong health function appeal. Additionally, we will promote bulk sales of EPA materials to our existing customers as well as new processed food manufacturers in Japan.

We will strive to expand the complete farming cycle of the tuna while also increasing the production of tuna formula feed. Additionally, we will refine the aquaculture technolo-gy for Kurose yel lowtai l bur i and a im for ASC and FSSC22000 certification. As for the aquaculture of Sakaimi-nato coho, we will aim for increases in volume as well rais-ing broodstock.

Functional foods

We will reinforce our tuna, yellowtail buri, salmon and trout aquaculture businesses

Aquaculture

In order to increase the production capacity of EPA (eicos-apentaenoic acid) used in pharmaceuticals, we are con-structing a new pharmaceutical plant within the Kashima Plant premises (Kamisu-shi, Ibaraki Prefecture), which is scheduled to commence operations in January 2018.

＊ cGMP（Current Good Manufacturing Practice）

We will build financial strength that will enable us to respond to changes in the business climate. To this end, we will enhance asset efficiency by practicing thorough inventory control, improve our equity ratio and reduce debts. Addition-

Investment Plan

Finance Strategies

Total Investment Amount

Marine Products Business

Food Products Business

Fine Chemicals Business

Logistics Business

Depreciation & Amortization

Other Business

（）

：53.5

Yumigahama Suisan Processing Plant Oosaka-Maishima

Logistics Center

Kashima Plant

～ Reduce debt and improve our equity ratio ～

In order to realize growth during the period of this Mid-Term Business Plan, we will make capital investments in our strategic businesses

ally, all Group companies will strengthen ROA-based invest-ment control. In terms of shareholder return, we will aim for a consolidated payout ratio of 10-15% during the period of this Mid-Term Business Plan, and more than 30% in the future.


Hokkaido Fine Chemicals

Nissui Tsukuba Plant

Nissui Sakaiminato Plant

Nissui Kashima Plant

billionyen

billionyen

billionyen

billionyen

billionyen

billionyen

Non-consolidated 23.0 billon yenNissui Group 47.0 billon yen

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Mid-Term Business Plan MV I P 2017

Technology to reinforce salt flavor: Maintaining a satisfying salt flavor while cutting back on sodium

Research and development of high-purity EPA (eicosapentaenoic acid)

In order to establish a stable aquaculture business, Nissui has been promoting “the development of artificial seedling that produce selected yellowtail buri and the study of breeding,” “the development of a feed system that provides the right amount of feed when fish are hungry thus eliminating waste,” “the study of a new type of feed that will make complete farming cycle tuna possible,” and “the commercialization of the complete farming cycle of tuna.” Yumigahama Suisan, which is engaged in the aquaculture of coho, mackerel and yellowtail buri, i s cont inu ing i ts r e s e a r c h a n d development and r a i s i n g t h e advancement o f a q u a c u l t u r e i n various fields.

Nissui had been focusing on EPA, which is widely used today in pharmaceuticals and health foods, from an early stage and began its development of high-purity EPA from 1981. The EPA content of the raw material, sardine oil, was only around 20% and sardine oil had the added disadvantage of being easily oxidized. However, Nissui successfully enhanced the purity of EPA content to over 90% (current ly i t i s over 96%) and now offers th is EPA as a pharmaceutical ingredient. Going forward, we will work on techno log i ca l d e v e l o pmen t that will allow us t o p r o d u c e high-purity EPA f r om fi s h o i l s w i t h l ow EPA content.

23 24

We have developed a proprietary salt-flavor enhancing technology*, which maintains a satisfying salt flavor and tastiness while reducing sodium content, in line with today’s low-sodium lifestyle. We have discovered apiin, an active ingredient in vegetables such as parsley that brings out the salt flavor while masking the bitterness of potassium chloride and successfully recreated the salt flavor prior to reducing the salt content without spoiling the taste. Nissui has developed and markets products such as “Sake-ara-hogushi,” which has a satisfying taste but a low salt content.

Promotion of an advanced aquaculture business

We developed our unique “fukkura (plumping) processing,” which effectively uses organic acid salts. While the generally-used alkaline processing tends to leave the fish tasting watery and bitter, this method, by using specific organic acid salts, plumps up each muscle of the fish to reduce any fishy smell and preserve the original taste of the fish. We develop and market “fukkura fish slices” and “osakana oishiku tsukemashita,” which can be cooked while still frozen.

“Fukkura (Plumping) processing” Technology that makes fish tasty to eat

Reseachand

Development

The Technology Development Center is a cornerstone of the technology divisions, which is engaged in initiatives to enhance production function and to develop Nissui’s unique technology. The Technology Development Center covers every function of the production facilities of the Foods, Marine Products and Fine Chemicals businesses while assuming the responsibility for technology education and improving inspections at production plants.

TechnologyDevelopment Department

Central Research Laboratory

The Central Research Laboratory, which forms the core of Nissui Group’s R&D functions is engaged in research in the marine food products, aquaculture and health fields, the results of which are quickly adopted at the production sites, and is continually contributing to the completion of a unique Nissui system.

Products Research & Development Department

Products Research & Development Department is engaged in design, trial production and introduction to production line of new and renewal products including frozen prepared foods for retail and foodservice.

Tokyo Innovation Center

Oita Marine Biological Technology Center


Nissui’s Today

Nissui’s Future

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Financial Data

We will continue to create new value from marine resources with our superior science technology.

Patent registration No.5952832

Nissui promotes reducing water usage by saving water and reusing water. At the production plants, efforts are being made to reduce water usage by revising cleaning methods and the way water is being used in the manufacturing process.

25 26

［ Water usage ]

For a sustainable society: Nissui is engaged in activities to conserve the environment out of gratitude to the sea.EnvironmentalActivities

Reducing water usage

3 Initiatives to reduce the environmental burden

Nissui promotes the reduction of CO₂ emissions by the Group through such measures as energy- and electricity-saving efforts, the changeover to energy sources with low CO₂ emission coefficients and the use of renewable energy.

The Nissui Group promotes 3R efforts (Reduce, Reuse and Recycle). The domestic Nissui plants are engaged in initiatives to reduce and recycle waste in an effort to achieve zero emission.**Zero emission: Nissui’s initiatives to achieve a recycling ratio of 99% or higher

［ Amount of CO₂ emissions ]

*The graph on the left was calculated using the CO₂ coefficients used by the electric power suppliers in FY2014. The graph on the right was calculated using the CO₂ coefficients used by the electric power suppliers in each respective fiscal year.

Reducing waste and promoting recycling

［ Waste generated / recycled, and recycling ratio ]

The entire Nissui Group is engaged in activities to clean up areas surrounding its business locations, with more than 1,000 people participating each time. In terms of activities to conserve the environment, each year, Nissui partici-pates in activities to conserve the Utsu-nuki Green Zone in Hachioji, as con-serving the satoyama (village and forests) will ultimately protect the sea, and conducts events to learn about the biodiversity of the rivers and seas.

・Each business segment sets it targets and manages its progress.

・Each business location and Group company establishes its environment management system (e.g. acquisition of ISO14001 certification)

CSR Committee

Nissui has established the Environment Committee chaired by the President with the related executives and general managers of related divisions as commit-tee members. The Committee meets to confirm the status of initiatives to reduce the environmental burden and the status of compliance with laws, and to determine measures concerning the environment. Additionally, Meetings of Persons in Charge of the Environment are held for each business segment to share information on such matters as law revisions and the latest energy-saving equipment, which is then applied to the activities of each business location.

Environmental training and education

Activities to raise environmental awareness and to conserve the environment

System of Environmental Management

Conservation activities at the Utsunuki Green Zone in Hachioji

Clean-up Project at the Himeji General Plant

【 Environmental Philosophy 】

【 Policies 】

Environmental Code

Reducing CO₂ emissions

The basic corporate stance of NISSUI, whose business relies on the bounty of nature, is to respect natural resources and interact with the Earth and the sea with gratitude.We shall engage in global business activities which enable us to live in harmony with the global envi-ronment, and make continuous efforts to build a sustainable society.

❶ We will promote activities mindful of the preservation of the natural environment and biodiversity, and the sus-tainable use of resources.

❷ We will continuously endeavor to build a recycling-oriented society through energy conservation, resource saving, waste reduction, less packaging & containers, environmentally-friendly procurement, and other activities which alleviate the environmental burden.

❸ We will build an environmental management system, and aim to operate the system in an effective manner. We will also conduct environmental audits, and strictly enforce compliance with environment-related laws, regulations, etc.

❹ We will raise the environmental awareness of each and every one of our employees through environmen-tal education.

❺ With respect to society, we will carry out environmental communication activities, and place great importance on environmentally-friendly coexistence with the local community.

❻ We will endeavor to make this Environmental Code common to companies affiliated with the Nissui Group.


Marine ProductsBusiness

Each business location/Group company

Food ProductsBusiness


Fine ChemicalsBusiness


General DistributionBusiness


Marine-related/Engineering and OthersEach business location/

Group company

Nissui’s Today

Nissui’s Future

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Financial Data

Environment CommitteeEnvironment Section

180,000 178,984180,152 180,152

150,000

FY2014 FY2015 FY2014 FY2015

120,000

90,000

60,000

30,000

175,368176,271

FY2016 FY2016

171,505（t-CO₂/year）

35,000（t/year）

（％）30,000

25,000

20,000

15,000

10,000

5,000

100

80

60

40

20

Waste recycling ratio

Generated Recycled Generated Recycled Generated Recycled

FY2014 FY2015 FY2016

4,000（1,000 m³/year）

3,500

FY2014 FY2015 FY2016

3,000

2,500

2,000

1,500

1,000

500

Meeting of Persons inCharge of the Environment

3,561 3,653 3,685

30,42132,453

91.5 95.7

33,101

96.0

33,240 34,48733,907

Food Safety

SocialActivities

Nissui is engaged in various initiatives for delivering safety foods

Participating in social contribution activities as a good corporate citizen

27 28

As part of the commemorative activities for our 100th anniversary, we opened the Nissui Pioneer Exhibition in the Nissui Tobata Building in Kitakyushu City, Fukuoka Prefecture, in August 2011. The faci l i ty provides information to the general public and commercial fishing researchers as well as providing educational assistance to educational boards and schools. The Exhibition comprises the Historical Exhibition Room and the Operations Exhibition Room, which showcase Nissui’s history and businesses, the Library, which has some 3,000 pieces of literature related to the fishery industry on exhibit, and the Model Ship Room, where trawler models used by the Nissui Group are displayed, among others.

The Nissui Pioneer Exhibition showcasing the past, present and future of Nissui, which continues to create new value from marine resources

Opening of the Nissui Pioneer Exhibition

At Nissui, employees act as teachers to visit elementary schools and give lectures on aquaculture, the effects of fish including EPA and DHA, the physiology of fish, and other subjects. The objective of these lectures is to have children gain knowledge on “eating fish” and acquire healthy eating habits from childhood, as well as to raise the children’s interest in ocean and fish.Through these educational assistance activities, Nissui will continue its efforts to realize a healthy lifestyle by familiarizing children with the benefits of a diet based on fish, while at the same time strive to expand the children’s imagination and foster a sense of kindness towards nature.

Initiatives to visit classrooms

【 P h i l o s o p h y 】

Quality Assurance Code

We value the “delicious taste” and “freshness” of ingredients and provide individual customers with safe and high-quality products that will satisfy their expectations, thereby contributing to the development of healthy and rich dietary life.To gain customers’confidence and empathy, every member of Nissui’s staff will fulfill his/her responsibility to maintain product quality and will make every effort to further increase cus-tomer satisfaction.

Nissui has continuously sponsored the “Umi to Sakana Competit ion” Independent Research and Artwork Contest with Asahi Shimbun Company and the Asahi Gakusei Shimbunsha, from the first contest in 1982. The 35th contest was held in 2016. The Contest is held for the purpose of getting elementary school-aged children to learn about the relationship between the ocean and fish and their own lives through various experiences. A cumulative total of nearly 720,000 works have been submitted from the 1st to the 35th contests. http://www.umitosakana.com/

Sponsorship of the “Umi to Sakana Competition” Independent Research and Artwork Contest


Nissui’s Today

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Nippon Suisan Kaisha Award for the Artwork Division of the 34rd Contest:〝Sardine fishing at Kujukuri coast"

To enhance the credibility of the inspection offices of the Nissui Group plants throughout Japan, Nissui conducts inspection ski l l cert ificat ion, precis ion management , comp i l a t ion o f manua l s , e tc . a s Group-wide activities.

In order to ensure safety of its products, Nissui manages all information on raw materials, including certificates from the suppliers confirming their provenance, compliance with standards, any pesticides or drugs used, etc. Before importing products, Nissui conducts inspections at the plants for pesticides, antibiotics and other substances. Nissui thoroughly performs checks on quality and safety by performing voluntary inspections at the time of import in addition to inspections that comply with Japanese laws.

Managing all information on raw materialsand an rigorous inspection system

Excellent Lab activities

A certification system for production plants has been establ ished and under proprietary, HACCP*- l ike standards, the management status of production plants are evaluated both from the tangible and intangible aspects. Even after certification, plants are audited periodically and continuous efforts are made to maintain and improve the status of quality assurance.

Nissui has established a set of own standards for food defense. Nissui protects food safety through such measures as ensur ing the sa fety o f water supp l ies , p roper l y manag ing pharmaceut ica l s , prohibiting the bringing in of ha rm fu l subs tances and reinforcing communication with workers.

*International food sanitation control methods set forth by the Codex Alimentarius Commission.

Certification of production plantsand establishing audit systems

Food defense: Protecting food from malicious third parties

1900’s1930’s

1960’s1990’s 2000’s

29 30

Nishi-Shimbashi Square, 1-3-1, Nishi-shimbashi, Minato-ku, Tokyo 105-8676 Japan

Founded　1911

Established　1943

Capital　30,685 million yen

Number of Shares Authorized　1,000,000,000

Number of Shares Issued　312,430,277

Number of Shareholders　41,989

Number of Employees　1,142 （Non-consolidated）

（As of March 31, 2017）

1911.5

Founder Ichiro Tamura

Ichiro Tamura estab-lished the Tamura Steamship Fishery Division in Shimonoseki

1911.5Kosuke Kunishi, on orders from Ichiro Tamura, completed the construction of the trawler, Minato-Maru in England and navigated it back to Japan.

1917.7The company emblem of Nippon Suisan (formerly Yamagami Gumi) was registered as a trademark.

1919.9The Division reorganized into a corporation under the name of Kyodo Gyogyo.

1920.2Hayatomo Fishery Research Group, the first private fishery research organization in Japan, was established.

A person of merit Kosuke Kunishi

Trawling business commenced with the trawler, Minato-Maru.

The Tobata Plant as of now

Contributed to the development of on-board rapid freezer and diesel trawlers.

Construction blueprint for the Port of Tobata　As a base for distributing and supplying marine products to the consuming regions, the port was equipped with fishery, ice-making, cold storage, freezing, processing, distribution and marketing functions.

1928.11Cultivated overseas fishing grounds through the adoption of state-of-the-art technology.

Himeji-Maru, a state-of-the-art trawler operating off the coast of Argentina, equipped with wireless telegraph devices, a diesel engine and on-board rapid freezer

1959.4The Five-Year Reformation Plan started.

1967.2Started full-scale offshore production of surimi.

Expanded offshore and onshore production capacity and achieved rapid growth.

Mineshima-Maru, a general factory ship first left for mother ship-type trawl fishery.

1952.10

1937.3Company name changed to Nippon Suisan.

Full-scale production of fish sausage started.

Different brand marks which had been assigned to each business were unified.

1997.10The corporate brand mark is unified.

Joined the Nissan Zaibatsu and relocated its head office to the Nissan-kan.

Tonan Maru III was sunk near Truk Island.

1943.3Nippon Kaiyo Gyogyo Tosei was estab-lished in accordance with the Fishery Control Ordinance. The cold storage, freezing, processing and sales divisions were separated and transferred to Teikoku Suisan Tosei (presently Nichirei Corp.).

1945.8Overseas assets and vessels suffered serious damage due to World War II.

The Tenryu Maru fleet leaving from Hakodate to begin first mother ship-type salmon/troutfishery

1952.5The first NISSUI's mother ship-type salmon and trout fleet began fishing after the end of World WarⅡ.

Tuna sausage using tuna was developed at the Tobata Plant and went into full-scale production.

2014.8Head office moved to Nishi-Shimbashi Square in Minato-ku, Tokyo.

Head office was relocated to Nishi-shimbashi, Minato-ku, Tokyo, in order to improve the office environment and enhance operational efficiency.

Company Profile and History1980

Collaborated with the Chiba University School of Medicine and commenced empirical validation of measuring the effects of EPA.MOCHIDA PHARMACEUTICAL's

product "Epadel"

2001.10NISSUI acquired "Gorton's".

Acquired Gorton’s, which held the top share in the precooked frozen seafood products category in the US.

2011.4Completed the Tokyo Innovation Center.

Completed in Hachioji as a R&D base to support the next 100 years.

1988.12NISSUI acquired Salmones Antártica, a salmon and trout aquaculture company in Chile.

Established S.A. in Chile and commenced the aquaculture of coho.

1989.9Launched Yaki-onigiri (grilled rice balls), frozen prepared foods for household use.

COOK FOR ME Yaki-onigiri

1994.1The Oita Marine Biological Technology Center was completed.

Established in Saiki-shi, Oita Prefecture as a R&D base for aquaculture-related research.

1970.10

Yamato-Maru, the world’s largest stern trawler at that time, was completed.

2001.1Nippon Suisan acquired a stake in Sealord Group, Ltd.

Gained a foothold in the formation of NISSUI Global Links through an equity participation in New Zealand’s largest fishery company, Sealord.

Kurose Suisan was founded.

Established in Kushima-shi, Miyazaki Prefecture. Entered the domestic yellowtail buri aquaculture and processing business.

2004.1


1929.12The base of fishery moved from Shimonoseki to Tobata.

The Tamura Steamship Fishery Company’s Kannonzaki Office at the time of the company’s founding in 1911

8,722 （Consolidated）

Nissui’s Today

Nissui’s Future

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（As of June 28, 2017）

Executive Team

Board Member,SeniorManaging Executive Officer

Commissioned FisheriesBusiness Operating Officer


Commissioned Fine ChemicalsBusiness Operating Officer

Akiyo Matono

Board Member

KazuoOhki

Board Member

KeisukeYokoo

Board Member, Executive Officer

Commissioned BusinessSupervisor in North Americaand Business Supervisorin South America, Presidentof Nippon Suisan (U.S.A.),Inc.and President of Nippon SuisanAmerica Latina S.A.

Seiji Takahashi

Yoichi Sekiguchi

Board Member,Executive Officer

Commissioned Food ProductsBusiness Operating Officer, In charge of Production Groupand Product Research& Development Department

ShingoHamada

Shinsuke Ohki

Representative Board Member,President & CEO

Chief Executive Officer (CEO)

Norio Hosomi

RepresentativeBoard Member,Chairman

31 32

Standing Audit & Supervisory Board Member

Koki SatoAudit & Supervisory Board Member

Shino HiroseAudit & Supervisory Board Member

Motohide OzawaAudit & Supervisory Board Member

Toshinari Iyoda

Executive Officer

Hisami SakaiExecutive Officer

Yuji KobayashiExecutive Officer

Tomomi KimuraExecutive Officer

Tomoyuki MaebashiExecutive Officer

Tetsuya ShindoExecutive Officer

Munehiro IseExecutive Officer

Shinya Yamashita

Executive Officer

Hiroyuki HamanoExecutive Officer

Kazuhiro Matsushima

Executive Officer

Tetsuhiro KurodaExecutive Officer

Koji Umeda



Chief Financial Officer (CFO),CSR, In charge of CorporateAdministration Group

Shinya Yamamoto

Nissui’s Today

Nissui’s Future

Nissui’s

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Financial Data

As of March 1, 2017

● Hachioji General Plant

● Kashima Fine Chemicals General Plant

■ Head Office

【Food Products Business Group】

Hachioji-shi, Tokyo

Himeji-shi, Hyogo

Tokyo Food Order Center

Himeji Food Order CenterOrder Centers

Central Research LaboratoryProducts Research& Development DepartmentTechnology Development Department

Hachioji-shi, Tokyo

Saiki-shi, Oita

Research andDevelopment

Minato-ku, TokyoHead Office

Sendai Branch

Nagoya Branch

・ Hokuriku Office

Osaka Branch

Chushikoku Branch

・ Shikoku Office

Fukuoka Branch

Sendai-shi, Miyagi

Nagoya-shi, Aichi

Kanazawa-shi, Ishikawa

Osaka-shi, Osaka

Hiroshima-shi, Hiroshima

Branches

Takamatsu-shi, Kagawa

Fukuoka-shi, Fukuoka

Office Locations

Tsukuba Plant

Kashima No.1Fine Chemicals General Plant

Kashima No.2Fine Chemicals General Plant

FunabashiFood Processing Center

Hachioji General Plant

Anjo Plant

Himeji General Plant

Tobata Plant

Tsukuba-shi, Ibaraki

Kamisu-shi, Ibaraki

Kamisu-shi, Ibaraki

Funabashi-shi, Chiba

Hachioji-shi, Tokyo

Anjo-shi, Aichi

Himeji-shi, Hyogo

Kita-Kyushu-shi, Fukuoka

Plants


Central Research LaboratoryOita Marine Biological Technology Center

Organization

Nissui’s Today

Nissui’s Future

Nissui’s

“Initiatives


Nissui’s

Managem


Financial Data

Audit & Supervisory Board

Staff of Audit & Supervisory Board Members

Internal Audit Department

Executive Committee CSR Committee

Risk Management Committee

Quality Assurance Committee

【Sales Group】

【Production Group】

【Corporate Administration Group】Corporate Strategic Planning& IR Department

CSR Department

ICT Department

General Affairs Department

Legal Department

Human ResourcesDepartment

Finance and AccountingDepartment

【Business Support Group】Marketing PlanningDepartment

Supply Chain ManagementDepartment

Marine Business StrategyDepartment

Aquaculture BusinessPromotion Department

Food Products Production Promotion Department

Hachioji General Plant

Himeji General Plant

Consumer ProductsDepartment

Food Service ProductsDepartment

Shelf-stable FoodsDepartment

Chilled Foods Department

【Quality Assurance Group】Quality AssuranceDepartment

Food Safety ResearchDepartment

Customer ServicesCenter

【R&D Group】Central Research Laboratory

Product Research& Development Department

Technology DevelopmentDepartment

International Salesand Business DevelopmentDepartment

Sendai BranchNagoya Branch

Chushikoku Branch

Fukuoka Branch(ICT = Information and Communications Technology) (CSR = Corporate Social Responsibility )

Osaka Branch Foodstuff Sales Department Consumer Products Sales Department

National Account Sales Division

National Account Sales Department

Consumer Products Sales Department for Tokyo Metropolitan Area

Foodstuff Sales Department 1

Foodstuff Sales Department 2

Speci�c Channels Marketing Department

【Fine Chemicals Business Group】【Fisheries Business Group】Fine Chemicals OperationsDepartment

Human Life ScienceR&D Center

Functional FoodsDepartment

Fine ChemicalsGeneral Plant

Fisheries Business Department 1




General Shareholders' Meeting

Board of Directors

President & CEOManagement Council

Representative Board MemberOutside Board Member

Group Companies

● Nippon Cookery Co., Ltd.

● UniSea, Inc.（Dutch Harbor Plant）

● Hachikan Co., Ltd.

● Kurose Suisan Co., Ltd.

● Nissui (Thailand) Co., Ltd. ● Empresa de Desarrollo 　 Pesquero de Chile S.A.

Nippon Suisan (Europe), B.V.

● Europe

Hakodate-shi, Hokkaido Production and sales of functional lipids (EPA, DHA etc.)

● North America

ChileMarine products purchasing, sales by export

Nippon Suisan America Latina S.A. (N.A.L.)

Chile Trawl �shingEmpresa de Desarrollo Pesquero de Chile S.A.

Peru Marine products purchasing, sales by export

Nippon Suisan America Latina Perú, S.A.

Brazil Marine products purchasing, sales by import

Nordsee Comercial Importadora Y Exportadora, Ltda.

Chile Fish aquacultureSalmones Antártica S.A. (S.A.)

● South America

ChinaQingdao Nissui Food Research and Development Co., Ltd

● Asia/Oceania

Quality control and development of overseas productions

Nagoya-shi, Aichi

Mizunami-shi, Gifu

Toyama-shi, Toyama

Itami-shi, Hyogo

Himeji-shi, Hyogo

Osaka-shi, Osaka

●Chubu / Kansai Area

Transportation / freight transportation

Food production and sales


General food wholesale

Marine products and low temperature food wholesale

Marine products and low temperature food wholesale

●Chugoku / Shikoku Area

●Kyushu Area

Domestic Group Companies ＊As of July 2017


Carry Net Co., Ltd.

Tomiso Co., Ltd.

Hokuriku Fresh Foods Co., Ltd.

K-Teion Foods Co., Ltd.

Himeji-shi,Hyogo Cold storage managementHinomaru Reizou Co,.Ltd.

Maruuo Suisan Co., Ltd.

Daisui Co., Ltd.

Sapporo-shi, Hokkaido

Kushiro-shi, Hokkaido

Cold storage management / marine products production and sales / food sales

Marine products production and sales

Hokkaido Nissui Co., Ltd.

●Hokkaido Area

Sasaya Shoten Co., Ltd.

Wakkanai-shi, HokkaidoMarine products production and sales /Cold storage management Wakkanai Tobu Co., Ltd.

Hokkaido FineChemicals Co., Ltd.

Hachinohe-shi, Aomori Food production and sales


Hachikan Co., Ltd.

●Tohoku Area

Kahoku-cho, Nishimurayama-gun, Yamagata

Mogami Foods Co., Ltd.

Onomichi-shi, Hiroshima Food production and salesKunihiro Inc.

Kita-Kyushu-shi, Fukuoka Food production and salesKitakyushu Nissui Co., Ltd.

Nagasaki-shi, Nagasaki ShipbuildingNagasaki Shipyard Co., Ltd

Saeki-shi,Oita Research supportRinkai kenkyu,Ltd

Karatsu-shi, SagaAquaculture / marine products and food production and sales / cold storage management Kaneko Sangyo Co., Ltd.

Fukuoka-shi, Fukuoka Marine products producation and salesHakata Marukita Suisan Co., Ltd.

Kushima-shi, Miyazaki Marine products and food production and sales / aquaculture

Kurose Suisan Co., Ltd.

Imari-shi,Kagoshima Production and sales of formulafeed/sales of farmed �sh

Farmchoice Co.,Ltd.

Setouchi-cho, Oshima-gun, Kagoshima

Fish AquacultureSeinan Suisan Co., Ltd.

Kanoya-shi,Kagoshima Aquaculture/marine productsproduction and sales

Satsuma Suisan Co.,Ltd.

Kumamoto-shi, Kumamoto Food production / cold storage managementNippo Shokuhin Kogyo Co., Ltd.

Kita-Kyushu-shi, FukuokaContractor for offshore engineering, human resources development, and operation and management of vessels

Nissui Marine Industries Co., Ltd.

Hiroshima-shi, HiroshimaMarine products and low temperature food wholesaleHiroshimasuisan Co., Ltd.

Sakaiminato-shi, Tottori FisheryKyowa Suisan Co., Ltd.

Mitoyo-shi, Kagawa Food production and salesKaneko Shokuhin Co., Ltd.

Sakaiminato-shi, Tottori Fish aquaculture / Marine products and food production and sales

Yumigahama Suisan Co., Ltd.

The Netherlands European holding company

Europacífico Alimentos Del Mar SL SpainMarine products purchasing, sales and import

Nordic Seafood A/S DenmarkMarine products purchasing, sales and import

J.P. Klausen & Co. A/S DenmarkMarine products purchasing and sales

Cité Marine S.A.S. FranceFrozen and chilled food production and sales

Caistor Seafoods Ltd. United KingdomMarine products processingand sales

Tai Mei Food Industrial Corp. Taiwan Food production and sales

Thai Delmar Company Limited Thailand Food production

NIGICO Co., Ltd. VietnamMarine-processed products and frozen food production

Nippon Suisan (Singapore) Pte, Ltd.

Singapore Marine products purchasing, sales by export

Nissui (Thailand) Co., Ltd. ThailandMarine-processed products production

Australian Longline Pty Ltd. Australia Fishery, marine products processing and sales

Sealord Group, Ltd. New Zealand Fishery / marine products processing and sales

TN Fine Chemicals Co., Ltd. Thailand Production and sales of functional materials

Nippon Suisan (U.S.A.), Inc. U.S.A. Marine products purchasing, sales by export

UniSea, Inc.headquarters Seattle Plant Dutch Herbor U.S.A.

Marine products purchasing, processing and sales

Gorton's, Inc. U.S.A. Frozen food production and sales

Bluewater Seafoods, Inc. Canada Frozen food production and sales

King & Prince Seafood Corp. U.S.A Frozen food production and sales

Glacier Fish Company, LLC U.S.ATrawl �shing, longline �shing, marine products processing

F.W. Bryce, Inc. U.S.AMarine products purchasing, sales by import

Overseas Group Companies

Nissui’s Today

Nissui’s Future

Nissui’s

“Initiatives


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Financial Data

Isesaki-shi, Gunma

Yoshikawa-shi, Saitama

Chuo-ku, Tokyo

Chuo-ku, Tokyo

Taito-ku, Tokyo

Minato-ku, Tokyo

Ota-ku, Tokyo

Yokohama-shi, Kanagawa

Yokosuka-shi, Kanagawa

Shinagawa-ku, Tokyo


Marine products production and sales

Marine products retail support

Medical products production and sales

Agency of warehousing to and shipping from cold storage

Marketing, import and export of marine products

Management and operation of mother ship of deep-sea research submarine, and research ship of human activities at deep sea


Marine products production and sales / fresh �sh retail sales

Cold storage management / freight transportation

Taito-ku, Tokyo The sale of OTC drugs,quasi drugs,cosmetics and health foods

●Kanto / Koshinetsu Area

Niigata-shi, Niigata Marine products and food production and sales / marine products wholesale

Yamatsu Suisan Co., Ltd.

Gunma Fresh Foods Co., Ltd.

Tokyo Kitaichi Co., Ltd.

Hohsui Corporation

Suisan Ryutsu Co., Ltd.

Nissui Pharmaceutical Co., Ltd.

Nissui PharmaMedical Sales Co.,Ltd.

Minato-ku, TokyoConstruction design / consulting forproduction technology

Nissui Engineering Co., Ltd.

Hachioji-shi, Tokyo Food production and salesChilldy Co., Ltd.

Sizuoka-shi,ShizuokaSankyo Suisan Co.,Ltd.

Nissui Logistics Corporation

Marine Products and Others Wholesals

Tokyosuisanunyu Corporaition

Minato-ku, Tokyo Financial management for group companiesNissui G Net Co., Ltd

Yokohama Trading Corporation

Nippon Marine Enterprises, Ltd.

Nippon Cookery Co., Ltd.

Chuo-ku, Tokyo Food production and salesDelmar Co., Ltd.

■ Corporate Governance

Basic approach to corporate governanceNissui upholds “to fulfill our corporate social responsibility and enhance our brand value” as one of its basic management policies. Directors who have been entrusted by the shareholders with the management of the Company strive to improve the functions of the Board of Directors, the decision-making body relating to the business execution of the Company, and to ensure flexible decision making and the transparency of manage-ment. Auditors ensure their independence, while at the same time improve and reinforce the supervisory functions over the execution of duties by the Directors.

Reason for appointment of Outside/Independent Directors and Corporate AuditorsNissui has appointed 2 Outside Directors and 3 Outside Corporate Auditors, who have no human, capital, or trading relationships with and no special interests in Nissui. The Outside Directors receive reports from the Audit Office, to which they engage in exchanges of information and opinions, as necessary. The Outside Cor-porate Auditors mutually cooperate with the accounting auditors by periodically receiving reports on audit plans and audit results from them, as well as witnessing certain of the audits conducted by the accounting auditors. The Outside Corporate Auditors also engage in exchanges of information and opinions, as necessary, with the Internal Audit Office.

All of above Outside Directors and Outside Corporate Auditors have no conflicts of interests with the general shareholders, and their independence has been assured. Nissui has designed them as Independent Directors and Corporate Auditors in accordance with the provisions of the Tokyo Stock Exchange. In addition, Nissui established criteria on independence in the selection of Outside Directors and Corporate Auditors approved by the Board of Directors in agreement of former Corporate Auditors, and emphasizes independence in the selection of Outside Directors and Corporate Auditors.

Kazuo Ooki,Outside Director

Keisuke Yokoo, Outside Director

Shino Hirose,Outside Corporate Auditor

Motohide Ozawa,Outside Corporate Auditor

Reason for selectionName

Mr. Ooki is expected to utilize his extensive knowledge and experience, which he acquired from having served as CEO of telecommunication business, in the management of Nissui.

Mr. Yokoo is expected to utilize his extensive knowledge and experience, which he acquired from having served at a financial institution as CEO and as outside corporate auditor at Nissui, in the management of Nissui.

Ms. Hirose is extremely knowledgeable in Chinese and retail business as well as vari-ous legal practices and is expected to demonstrate her insight in the audit of Nissui.

Mr. Ozawa is expected to demonstrate his insight, which he acquired from having served as representative partners of a major auditing firm and as a specially appointed professor at a professional graduate school, in the audit of Nissui.

Toshiya Iyoda,Outside Corporate Auditor

Mr. Iyoda has a detailed knowledge in audit, which he acquired from having served as a full-time corporate auditor at a listed company for a long time, and is expected to demon-strate his insight in the audit of Nissui.

Transition of the SystemSeparation of management and business execution and the reinforcement of their respective functionsNissui at the meeting of its Board of Directors held on May 15, 2009, resolved to adopt the executive officer system (upon conclusion of the 94th General Meeting of Shareholders held on June 25, 2009), and separated the management decision-making function and the function of oversight over operations of the Board of Directors from the business execution function of the Executive Officers, as well as reinforced their respective functions.In conjunction with the adoption of the executive officer system, Nissui amended Article 21 of its current Articles of Incorporation, which stipulated the number of Directors as not more than 20, to not more than 10.

Number ofDirectors

Number ofOutside Directors

Number ofIndependent Directorsand Corporate Auditors

2008: 17 (prior to the adoption of the executive officer system)→ 2017: 9 (including 2 Outside Directors)

2009: 2 → 2017: 2

2010: 4 (2 Outside Directors and 2 Outside Corporate Auditors)→ 2017: 5 (2 Outside Directors and 3 Outside Corporate Auditors)

(As of June 28, 2017)

Diagram: System of Corporate Governance

General Shareholders' Meeting

Board of AuditorsReport

Appointment, Dismissal Appointment, Dismissal

Appointment, Dismissal

Accounting Auditors

President & CEO

Executive Committee

Division and Business Locations of the Company

Subsidiaries and Affiliates

Board of Directors

Audit Office

Management CouncilE t h i c sNissui has established the Declaration of Corporate Policy and various Codes, and set forth rules that the executives and employees are to observe in the various areas including risk management and compliance.

Basic Management Policies

Code of Ethics Environmental Code Quality Assurance Code

We will champion the sustainable utilization of marine resources and the preser-vation of the earth environment, continue to create diverse values from resourc-es, including marine resources, and provide individual consumers with safe and high quality thus helping them to maintain a fit and healthy life style.

Declaration on Action of CSR

Appointment, Dismissal

Internal Audit

InternalAudit


Nissui’s Today

Nissui’s Future

Nissui’s

“Initiatives


Nissui’s

Managem


Financial Data

CSR CommitteeRisk Management CommitteeQuality Assurance Committee

Auditor of Accounts Corporate Lawyer

Financial Section

Nissui’s Financial Data40 Overview of FY2016 Consolidated Income Statements (Compared with the previous fiscal year)

41 Consolidated Balance Sheet (Compared with the end of the previous fiscal year) Consolidated Cash Flow Statements (Compared with the previous fiscal year)

42 Comparison of Net Sales by Segment Matrix (Compared with the previous fiscal year) Comparison of Operating Income by Segment Matrix (Compared with the previous fiscal year)

43 Key Performance Indicators

45 Financial Highlights (Consolidated) FY2007-FY2016

635.9

265.8

304.4

25.7

15.9

23.8

（1.2）

（6.8）

2.1

0.1

0.7

2.5

99.8%

97.5%

100.7%

100.4%

105.2%

112.2%

22.6

7.9

11.1

3.9

1.7

0.6

（2.8）

3.2

3.4

0.9

(0.6）

（0）

0

（0.4）

116.5%

176.7%

109.1%

85.8%

97.0%

102.2%

120.4%

24.8 4.1 120.2%

Profit attributable to owners of parent 14.2 1.9 115.5%

48.02 yen －－

■ Overview of FY2016

■ Consolidated Income Statement (Y-on-Y)

Net Sales

(Unit: billion yen)

FY2016Results

637.1

272.7

302.3

25.6

15.1

21.2

19.4

4.4

10.1

4.6

1.8

0.6

（2.3）

20.6

12.3

44.55 yen

FY2015Results

Increase/DecreaseAmount/Percentage

Marine Products

Food Products

Fine Chemicals

Logistics

Others

Operating Income

Marine Products

Food Products

Fine Chemicals

Logistics

Others

Common Costs

Ordinary Income

EPS (Net Income per share)

(Unit: billion yen)


Nissui’s Today

Nissui’s Future

Nissui’s

“Initiatives


Nissui’s

Managem


Financial Data

635.9

134.5

111.9

22.6

5.93.7

24.8

0.91.3

24.5

5.92.9

15.5

1.3

14.2

（1.2）

1.8

（1.3）

3.2

0.10.8

4.1

（0.6）(0）

3.5

（0.3）1.9

1.9

0

1.9

21.2

3.6

3.9

3.9

2.2

637.1

132.7

113.3

19.4

5.84.5

20.6

1.61.3

20.9

6.30.9

13.6

1.3

12.3

20.8

3.1

3.2

3.3

1.9

（0.2）

1.4

16.5

20.2

17.1

15.5

　Profit attributable to non-controlling interests

Net Sales

Gross Profit

　SGA expenses

Operating Income

　Non-Operating Income　Non-Operating Expenses

Ordinary Income

　Extraordinary Income　Extraordinary Expenses

Income before taxes

　Income taxes - current　Income taxes - deferred

Net Income

FY2016Results ％ FY2015

Results ％％Increase/Decrease

Profit attributable to owners of parent

■ Consolidated Cash Flow Statement(Y-on-Y)

24.5

17.3

（2.3）

（6.3）

（2.9）

30.1

（24.4）

17.0

（7.4）

（2.5）

（20.4）

13.9

（2.3）

（11.5）

3.5

0.1

（6.9）

（0.9）

（2.9）

（7.2）

（4.1）

13.7

9.6

4.9

（6.9）

13.9

（0,2）

11.6

■ Consolidated Balance Sheet (Y-on-Y)

14.6

4.6

（2.5）

5.5（1.0）（13.9）

15.6

6.1

Breakdown of Increase/Decrease

Cash and DepositsNotes and accountsreceivable-tradeRaw materials and supplies

Current Assets

233.015.6

Non-currentAssets

218.7（9.4）

451.86.1

CurrentLiabilities

216.23.8

Non-currentLiabilities

94.4（24.8）

Net Assets141.227.1

120.9 26

Assets

Liabilities （21）

（9.4）

27.1

26.8％

■ Comparison of Net Sales by Segment Matrix (Y-on-Y)(Unit: billion yen)

・The upper columns indicates the result of FY2016 and the lower columns indicates that of FY2015. The Italic and bold figures mean increase/decrease.・Consolidated adjustment include elimination between the group companies.

・The upper columns indicates the result of FY2016 and the lower columns indicates that of FY2015. The Italic and bold figures mean increase/decrease.・Consolidated adjustment includes amortization of goodwill and unrealized income in inventory.

■ Comparison of Operating Income by Segment Matrix (Y-on-Y)(Unit: billion yen)

(Unit: billion yen)

Income before income taxes

Depreciation and amortization

Working capital

Income taxes paid

Others

Net cash provided by operating activities

Investment on (Purchase of) plant and equipment

Others

Net cash provided by investment activities

Increase (Decrease) in short-term loans payable

Increase (Decrease) in long-term loans payable

Income by issuing new stocks

Others

Net cash provided by financial activities

The Italic and bold figures means increase/decrease, compared to 4Q of FY2015.


FY2016Result

20.9

17.2

4.5

（5.3）

0

37.3

（20.2）

3.2

（17.0）

（7.5）

（13.5）

　

（2.1）

（23.1）

FY2015Result

Increase/Decrease

(Unit: billion yen)

Nissui’s Today

Nissui’s Future

Nissui’s

“Initiatives


Nissui’s

Managem


Financial Data

'16/3 21.3％ '17/3 26.8％

CurrentAssets

Non-currentAssets

CurrentLiabilities

Non-currentLiabilities

Net Assets

Ratio of shareholder's equity

Total AssetsInc. Total

Shareholder's Equity

Ratio of shareholder's equity :

Property, Plant and EquipmentIntangible assetsInvestments and other assets

216.5218.8326.9317.227.627.529.027.228.932.9629.1623.9

（160.1）（165.1）468.9458.7

49.755.556.465.4

106.1120.9（18.8）（23.9）87.396.9

20.822.6

20.822.6

（14.0）（16.5）

6.76.1

7.48.46.76.70.30.2

0.20.114.815.6（9.9）（10.4）

4.85.1

45.148.823.922.2

69.071.0（1.0）（1.0）68.070.0

339.7354.2414.0411.627.927.829.027.229.133.1839.9854.2

（73.8）（81.5）（109.5）（109.3）（2.1）（2.1）（13.0）（12.0）（5.3）（11.9）

（204.0）（217.1）

(0.9)

0

0

0

(0.8)

0.5

(0.2)

(14.5)

2.3

0.1

1.7

(3.9)

(14.2)

265.8272.7304.4302.325.725.615.915.123.821.2

635.9637.1

(6.8)

2.1

0.1

0.7

2.5

(1.2)

(3.7)

1.6

(2.0)

0

(2.0)

(1.8)

(1.8)

2.4

0.6

(5.7)

(9.0)

(14.8)

5.1

(9.6)

(2.2)

9.6

0

1.7

(4.0)

5.2

4.9

10.1

7.7

(0.2)

(0)

(0.9)

6.5

13.0

MarineProducts

FoodProducts

Fine Chemicals

Logistics

Others

Sub Total

ConsolidatedAdjustment

Grand Total

Japan NorthAmerica

SouthAmerica Asia Europe Sub Total Grand TotalConsolidated

Adjustment

5.24.97.15.23.84.51.71.80.61.1

18.617.70.3(0.4)18.917.3

(0.2)0.61.32.4

1.03.00.3(0)1.32.9

1.8(2.3)

1.8(2.3)(0.3)0.31.5(2.0)

0.40.10.60.70.00.0

(0)(0)

1.11,0(0)(0)1.10.9

(0.1)00.1(0.1)000(0)0

(0.5)00

0.1(0.5)

0.2

(0.1)

(0)

0

0.1

0

0.1

0.80.91.81.9

2.72.9(0.1)(0.2)2.52.6

(0)

(0.1)

(0.2)

0.1

(0)

(2.8)(2.4)(2.8)(2.4)(0)0

(2.8)(2.4)

(0.4)

(0.4)

(0)

(0.4)

3.6

0.5

(0.6)

(0)

(0.5)

(0.4)

2.5

7.94.411.110.13.94.61.71.80.60.6(2.8)(2.3)

22.619.4

8.14.410.910.33.94.61.71.80.61.1(2.8)(2.4)22.519.9

3.4

0.9

(0.6)

(0)

0

(0.4)

3.2

4.1

4.1

(0.6)

3.5

(0.9)

(1.0)

(2.0)

0.3

(1.6)

0.2

1.8

(0.6)

(0)

(0.5)

0.8

0.7

1.6

(0.2)

0.3

(0)

0

0.5

(0)

0.6

MarineProducts

FoodProducts

CommonCosts

Logistics

Others

Sub Total

ConsolidatedAdjustment

Grand Total

Fine Chemicals

Japan NorthAmerica

SouthAmerica Asia Europe Common

CostsSub Total Grand TotalConsolidated

Adjustment

14.212.6

0.8

（2.8）

Capital stock/ Capital surplus Retained earningsDeferred gains or losseson hedgesForeign currency translation adjustment

1.2

2.7

（25.7）2.1

Long-term loans payableDeferred tax liabilities

Notes and accountspayable-tradeAccrued expenses

3.8

（24.8）

0

5

10

15

20

25

30

35

40

0

5

10

15

20

25

30

0

50

100

150

200

250

300

0.0

0.5

1.0

1.5

2.0

2.5

3.0

3.5

35.3

FY2014 FY2015 FY2016

(Unit: billion yen) (Unit: billion yen)

0

100

200

300

400

500

600

700

800

0

5

10

15

20

25

FY2014 FY2015 FY2014 FY2015

638.4 637.1

FY2016

635.918.1

19.4

FY2016

22.6

(Unit: billion yen)

(Unit：％)

Consolidated net sales Consolidated operating income

■ Key Performance Indicators

EBITDA Equity ratio

Loan payableROA*

FY2014 FY2015 FY2016 FY2014 FY2015 FY2016


Consolidated operating income

FY2014 Result

638.4 billon yen

18.1 billon yen

637.1 billon yen

19.4 billon yen

635.9 billon yen

22.6 billon yen

FY2015 Result FY2016 Result

EBITDA

Equity ratio

ROA※

Loan payable

35.3 billon yen

19.5 %　

2.8 %　

254.3 billon yen

36.6 billon yen

21.3%　

3.1 %　

232.6 billon yen

FY2014 Result FY2015 Result

39.9 billon yen

26.8 %　

3.5 %　

207.7 billon yen

FY2016 Result

FY2014 FY2015 FY2016

(Unit：％)


(Unit: billion yen)

*ROA = {Net income + Interest expense ×(1 - effective tax rate)}/ {(Total assets in the end of the previous fiscal year + Total assets in the end of this fiscal year)/ 2}

Nissui’s Today

Nissui’s Future

Nissui’s

“Initiatives


Nissui’s

Managem


Financial Data

36.639.9

19.521.3

26.8

2.83.1

3.5254.3

232.6207.7

■ Financial Highlights （Consolidated） FY2007-FY2016(Unit: million yen)

538,030

9,553

1.8%

8,404

566,858

5,809

1.0%

5,443

604,249

13,931

2.3%

12,360

638,435

18,110

2.8%

21,392

16,911

16,786

4,809

23,820

（16,715）

（9,001）

14,981

240,503

20,265

16,849

3,610

15,136

（21,310）

8,495

18,169

262,676

15,335

16,848

3,367

18,121

（11,688）

（11,879）

13,801

256,147

18,676

15,877

3,697

22,838

（12,135）

（7,860）

17,071

254,341

2012.4 - 2013.3FY2012

2013.4 - 2014.3FY2013

2014.4 - 2015.3FY2014

¥77.74 ¥86.58 ¥105.39 ¥120.55

637,164

19,442

3.1%

20,696

21,907

16,225

4,670

37,395

（17,051）

（23,141）

14,056

232,657

2015.4 - 2016.3FY2015

¥120.61

¥8.35 （¥16.56） ¥14.47 ¥38.22 ¥44.55

2,307 （4,575） 3,998 10,558 12,307

635,953

22,646

3.6%

24,884

23,774

16,355

4,388

30,179

（7,445）

（11,517）

25,181

207,750

FY2016

141,205

108,163

451,876

¥388.38

8,722

63

33

96

2016.4 - 2017.3FY2016

¥116.49

¥48.02

14,216

(Unit: million yen)

494,294

8,088

1.6%

6,275

18,633

16,694

4,499

5,556

（28,808）

20,091

17,182

247,328

2010.4 - 2011.3FY2010

533,970

7,231

1.4%

6,758

505,250

3,156

0.6%

（1,222）

481,574

6,227

1.3%

6,174

19,105

15,410

3,718

14,900

1,848

（16,999）

11,774

169,227

28,872

15,545

3,803

（7,357）

（38,346）

66,323

30,892

230,826

21,121

17,801

3,994

33,550

（28,771）

（15,681）

20,952

221,633

FY2007

128,029

95,709

396,739

¥392.45

10,426

65

34

105

FY2008

72,165

69,257

385,462

¥201.64

8,608

63

38

106

FY2009

79,567

66,798

383,924

¥222.87

8,801

62

42

108

2007.4 - 2008.3FY2007

2008.4 - 2009.3FY2008

2009.4 - 2010.3FY2009

¥114.15 ¥91.03 ¥92.10 ¥81.49

FY2010

73,214

64,745

401,185

¥191.27

11,172

65

40

108

Profit attributable to owners of parent or Loss attributable to owners of parent

Profit attributable to owners of parent or Loss attributable to owners of parent

Earning per Share (EPS, Yen) Earning per Share (EPS, Yen)¥33.97

9,390

（¥58.74） ¥0.16 （¥2.54）

（16,239） 44 ▲701

Net Sales

Operating Income (Loss)

Margin (%)

Ordinary Income (Loss)

As of March 31:

Net Assets


Total Assets

Book Value per Share (BPS, Yen)

Employees (Unit: person)

Consolidated Subsidiaries

Affiliates in Equity Method

Total Subsidiaries and Affiliates

Exchange Rate (at end of December)


Capital Expenditure


R&D Expenses

Interest Bearing Debts

Net Cash provided by (used in) Operating ActivitiesNet Cash provided by (used in) Investing ActivitiesNet Cash provided by (used in) Financing ActivitiesCash and Cash Equivalents at end of period

Net Sales

Operating Income (Loss)

Margin (%)

Ordinary Income (Loss)

As of March 31:

Net Assets


Total Assets

Book Value per Share (BPS, Yen)

Employees (Unit: person)

Consolidated Subsidiaries

Affiliates in Equity Method

Total Subsidiaries and Affiliates

Exchange Rate (at end of December)

Capital Expenditure


R&D Expenses

Interest Bearing Debts

Net Cash provided by (used in) Operating ActivitiesNet Cash provided by (used in) Investing ActivitiesNet Cash provided by (used in) Financing ActivitiesCash and Cash Equivalents at end of period

Nissui’s Today

Nissui’s Future

Nissui’s

“Initiatives


Nissui’s

Managem


Financial Data

2011.4 - 2012.3FY2011

FY2012

66,404

56,815

424,108

¥191.35

10,175

61

44

108

FY2013

87,757

60,813

434,597

¥254.60

8,919

61

37

99

FY2014

109,111

69,536

461,889

¥326.38

8,240

59

36

97

FY2015

114,030

81,282

445,707

¥343.60

8,466

62

32

95

FY2011

66,530

63,320

403,182

¥175.60

10,513

65

39

107

Notes : Figures from FY2010 to 2015 reflect the all-year amendment conducted in January 2017.

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