Summary of Q&A for Results briefing of the First Quarter of Fiscal Year 2020 held on August 3, 2020

August 3, 2020

Are there any temporary factors that affected income decrease in the domestic Marine Products Business, such as inventory write-down, in addition to the decrease in sales volume and price? Also, please tell us the inventory level of marine products. Do you have a dead stock?

Sales of high-purify EPA for the U.S.A. in the Fine Chemicals Business are behind schedule. Could you share the status of negotiations with Amarin Corporation and the FDA's factory inspections with us?

You have revised the outlook of operating profit for the U.S.A. and Europe. What factors raised the outlook from a decrease of 2.0 billion yen to a decrease of 1.1 billion yen? We'd also like to know why the outlook for the operating profit in the salmon/trout business in South America has worsened from a decrease of 3.5 billion yen to a decrease of 4.3 billion yen.

We expected the sales of mainly in Food Products Business both in the U.S.A. and Europe would be decreasing by between 70% to 80% in May. However, we revised the outlook as some of the performance has been recovering. Various factors affected the South American salmon/trout aquaculture business in Marine Products Business. But we assume the biggest factor is that the sales price is lower than expected as of May due to the worsening fisheries market.

You expect the impact of coronavirus will last until late September in May. How do you see how long the influence of COVID-19 will last and how it will affect the net sales as of the first-quarter financial results announcement?

Revenue increased in food for household use and decreased in food-service in domestic Food Products Business. We'd like to know why the revenue didn't shrink sharply in food-service?

According to your plan, landing volume will decrease in the South American salmon/trout aquaculture business in Marine Products Business, compared to the previous year. What is your outlook in FY2021?

What are the fluctuating operating profit factors in every quarter compared to the previous year?

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