Sajodaerim Corporation (003960)

The company grew into a leading enterprise in the fisheries industry, originating from Daerim Fisheries, founded in 1964, and was incorporated into the Sajo Group in 2006. Through its 2019 merger with Sajo Haepyo, it further strengthened the capabilities of its food business division. The major business divisions of the company and its consolidated subsidiaries are classified into the food business division, the livestock business division, the fisheries business division, and the catering business division, and comprise a total of 8 subsidiaries. A. Food Business Division The food industry has grown continuously, reflecting the elevated standard of the public's dietary life, and is developing ever more broadly into diverse and differentiated fields in line with rapidly changing culture and trends. The company is a comprehensive food company that directly manufactures surimi products such as fish cakes and crab sticks, as well as edible oils and fats such as cooking oil and premium oils, and sells various products including canned tuna, ham, and sausages. To provide clean and safe food, it was the first in the surimi industry to introduce the HACCP system, and it strives to supply fresher and safer products to consumers quickly. It is doing its utmost to maintain its market advantage based on the development of various new products and excellent quality. B. Livestock Division The livestock business is growing continuously due to the increase in domestic meat consumption stemming from the Westernization of dietary habits. In addition, with the health-oriented trend, chicken—which is high in protein and low in fat and carbohydrates—is on a continuous upward trend thanks to its low price and convenience. The company aims to build an absolute position in the domestic livestock business field by vertically integrating the entire process spanning feed, breeding and production, processing, and distribution. C. Fisheries Division In the fisheries division, by integrating the fisheries division with the Sajo Group—which owns the world's largest fleet of tuna vessels for sashimi-grade fish—the company firmly secures its position as No. 1 in the trawl distribution industry, while taking responsibility for the stable supply of fishery products amid the difficulties caused by the overfishing and depletion of fishery resources, and making multifaceted efforts to protect fishery resources and prevent their depletion. D. Catering Business Division The catering business division features stable demand and supply and is led by large corporations with a certain market share. Thanks to this stability, risk from economic fluctuations is relatively low. However, the trend toward segmentation and premiumization of the institutional catering business is intensifying, and small and medium-sized companies reflecting wellness and eco-friendly trends are also increasing their market share. The company will strive to maximize synergy creation and expand profitability and order-winning competitiveness by combining the Sajo Group's food manufacturing capabilities with the logistics and food-materials business capabilities of Foodist Co., Ltd. ※ Performance of Principal Products and Revenue by Segment for the Current Period (Unit: KRW millions) Segment | Category | Principal products | Revenue | Ratio Deep-sea fishing | Deep-sea fishing | Tuna, pollack, cod, etc. | 138,780 | 3.69% Food | Food manufacturing | Fish cakes, edible oils and fats, etc. | 1,384,552 | 36.77% Merchandise | OEM food | | 803,896 | 21.35% Food materials | Food materials distribution | Food materials, etc. | 662,924 | 17.61% Food service | Institutional catering, etc. | | 315,172 | 8.37% Livestock | Pig farming | Live pigs, etc. | 8,240 | 0.22% Poultry | Broilers, etc. | | 316,951 | 8.42% Other | Rental income, cold storage fees | | 134,895 | 3.58% Simple total | | | 3,765,410 | 100.00% Intercompany transactions | | | (265,597) | - Grand total | | | 3,499,813 | -