TSUKIJI UOICHIBA COMPANY, LIMITED

Business Details

Based at the Tokyo Metropolitan Wholesale Market (Toyosu Market), this segment conducts consignment sales and purchase sales of fresh, frozen, and processed marine products. In addition to the company itself, operations are handled by Kyodo Suisan Co., Ltd. and Kitashoku Co., Ltd. (processing and sales), Tsukiji Ichikawa Suisan Co., Ltd. (intermediate wholesaler), and Toichi Tsukiji Suisan Boeki (Shanghai) Co., Ltd. (sales to China). While inbound demand and sales to business/commercial customers have remained solid, the segment faces structural headwinds including declining catch volumes, rising procurement unit prices due to yen depreciation, and the expansion of distribution outside the market, making profitability improvement the most critical issue.

Recent Overview

Sales increased, but segment loss widened due to a ¥415 million provision for allowance for doubtful accounts at a consolidated subsidiary

In the Marine Products Wholesale Business segment for FY2026 (ending March 2026), sales achieved an increase to ¥65,833 million (up ¥4,980 million year on year). The amount handled for fresh and frozen marine products increased due to rising unit prices, while processed marine products saw declines in both volume and amount due to rising procurement costs. Although profitability showed a trend of improvement through measures such as reviewing selling expenses, a case arose at a consolidated subsidiary where the collectability of accounts receivable became doubtful, resulting in a provision for allowance for doubtful accounts of ¥415 million. As a result, the segment loss widened to ¥372 million (compared to a loss of ¥189 million in the prior period).

Key Products

Growth Drivers

• Solid trend in sales to the foodservice/commercial sector driven by expanding inbound consumption (recovery in unit prices of high-grade fresh fish)
• Increase in the amount handled due to rising average unit prices of fresh and frozen marine products against a backdrop of price inflation
• Promotion of the transition to a sales company toward the final year of the medium-term management plan "MF-2026"
• Enhancement of added value in processing at production and consumption areas through deeper collaboration with Kyodo Suisan Co., Ltd. and Kitashoku Co., Ltd.
• Building a stable supply system through strengthened collaboration with aquaculture shippers
• Progress toward the full lifting of China's import ban on Japanese marine products

Risks

• Risk of uncollectible accounts receivable at consolidated subsidiaries (a ¥415 million provision for allowance for doubtful accounts was recorded in the current period)
• Declining trend in catch volumes of common fish species overall (due to rising sea temperatures, changes in the marine environment, and stricter resource management regulations)
• Rising procurement unit prices for imported marine products due to continued yen depreciation, and chronic loss of purchasing power in international markets
• Decline in volume and amount handled for processed marine products due to rising raw material procurement costs
• Decline in the rate of goods passing through consumption-area markets (expansion of distribution outside the market, such as direct-from-production-area shipping and direct e-commerce sales)
• Long-term declining trend in domestic marine product consumption (declining purchase volumes due to waning interest in fish, an aging population, and price increases)
• Increased delivery costs due to rising logistics costs and driver shortages
• Overall increase in selling costs due to rising energy and raw material prices