Recent C hanges a nd I mplications o f t he F ishery W holesale M arket After the Revision of Japan's Wholesale Market Act
The 2020 revision of Japan's Wholesale Market Act aimed to improve the financial performance of wholesale companies. Before the revision, the wholesale market saw a continuous decline in transaction volume and value, and the operating profit margin of wholesale companies was 0.18% in 2018, with 38.2% of wholesale companies experiencing operating losses. After the revision of the Wholesale Market Act, the operating profit margin of wholesale companies significantly improved to 0.41% by 2022. The reasons for this improvement are as follows: The transaction amount and the rate of change between 2022 and 2018 showed little difference. The number of markets increased by one central wholesale market, and while the number of buying and selling participants decreased, individual purchase volumes increased. The proportion of auctions further declined, and the number of direct transactions rose. As consignment collection decreased, purchased collection increased, leading to an improvement in financial performance. Ultimately, despite the short time frame, the revision of Japan's Wholesale Market Act led to positive changes that improved the financial performance of wholesale companies.