September 16, 2011

For the first time in four years, Nippon Suisan Kaisha Ltd.'s (1332) overseas division is forecasted to produce operating profit of US$13 million for the six months through Sept 30.

It posted an operating loss of US$5.2 million from its overseas business for the first half of 2010.

Rising seafood prices are helping Nippon Suisan's farmed trout operation in Chile. In addition, the firm's Alaska pollock processing operation in North America is turning to the black.

Nippon Suisan has expanded its overseas operations over the past several years through mergers and acquisitions. But these operations have been bleeding red ink due partly to incidents of fish diseases.

For the year ending March 2012, the company projects an operating profit of US$52.1 million from its overseas business, a 2.5-fold increase on the year.