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February 4, 2020

Japan seafood giant Maruha Nichiro names new CEO

A change at the top of one of the world's largest seafood companies, Japan's Maruha Nichiro, has been announced.

By Dean Best

A change at the top of one of the world’s largest seafood companies, Japan’s Maruha Nichiro, has been announced.

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What’s the forecast for the food and grocery industry?

The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
by GlobalData
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The Tokyo-listed group said Masaru Ikemi, who joined the business more than 30 years ago, has been promoted from his role as senior managing executive officer to president and CEO.

Ikemi, 62, will replace Shigeru Ito on 1 April. Ito will became the company’s chairman.

In a brief statement, Maruha Nichiro said the changes had been made “to strengthen the management structure of the company’s group”.

The change at the helm was announced yesterday (3 February) on the same day as Maruha Nichiro announced a fall in third-quarter sales and earnings.

The declines meant Maruha Nichiro now forecasts its annual net sales, operating income and net income in the year to the end of March 2020 to all be down on the previous 12 months.

In the year to 31 March 2019, Maruha Nichiro generated net sales of JPY922.47bn (US$8.42bn), operating income of JPY21.76bn and profit attributable to owners of parent of just short of JPY17bn.

The company now expects its net sales in its current financial year to hit JPY910bn, operating income to reach JPY17.5bn and profit attributable to owners of parent to be JPY13bn.

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Free Report
img

What’s the forecast for the food and grocery industry?

The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
by GlobalData
Enter your details here to receive your free Report.

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