955 resultados para IPO, market timing, Japan, Keiretsu


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We present a growth analysis model that combines large amounts of environmental data with limited amounts of biological data and apply it to Corbicula japonica. The model uses the maximum-likelihood method with the Akaike information criterion, which provides an objective criterion for model selection. An adequate distribution for describing a single cohort is selected from available probability density functions, which are expressed by location and scale parameters. Daily relative increase rates of the location parameter are expressed by a multivariate logistic function with environmental factors for each day and categorical variables indicating animal ages as independent variables. Daily relative increase rates of the scale parameter are expressed by an equation describing the relationship with the daily relative increase rate of the location parameter. Corbicula japonica grows to a modal shell length of 0.7 mm during the first year in Lake Abashiri. Compared with the attain-able maximum size of about 30 mm, the growth of juveniles is extremely slow because their growth is less susceptible to environmental factors until the second winter. The extremely slow growth in Lake Abashiri could be a geographical genetic variation within C. japonica.

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Loligo opalescens live less than a year and die after a short spawning period before all oocytes are expended. Potential fecundity (EP), the standing stock of all oocytes just before the onset of spawning, increased with dorsal mantle length (L), where EP = 29.8L. For the average female squid (L of 129 mm), EP was 3844 oocytes. During the spawning period, no oogonia were produced; therefore the standing stock of oocytes declined as they were ovulated. This decline in oocytes was correlated with a decline in mantle condition and an increase in the size of the smallest oocyte in the ovary. Close agreement between the decline in estimated body weight and standing stock of oocytes during the spawning period indicated that maturation and spawning of eggs could largely, if not entirely, be supported by the conversion of energy reserves in tissue. Loligo opalescens, newly recruited to the spawning population, ovulated about 36% of their potential fecundity during their first spawning day and fewer ova were released in subsequent days. Loligo opalescens do not spawn all of their oocytes; a small percentage of the spawning population may live long enough to spawn 78% of their potential fecundity. Loligo opalescens are taken in a spawning grounds fishery off California, where nearly all of the catch are mature spawning adults. Thirty-three percent of the potential fecundity of L. opalescens was deposited before they were taken by the fishery (December 1998−99). This observation led to the development of a management strategy based on monitoring the escapement of eggs from the fishery. The strategy requires estimation of the fecundity realized by the average squid in the population which is a function of egg deposition and mortality rates. A model indicated that the daily total mortality rate on the spawning ground may be about 0.45 and that the average adult may live only 1.67 days after spawning begins. The rate at which eggs escape the fishery was modeled and the sensitivity of changing daily rates of fishing mortality, natural mortality, and egg deposition was examined. A rapid method for monitoring the fecundity of the L. opalescens catch was developed.

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The California market squid (Loligo opalescens Berry), also known as the opalescent inshore squid (FAO), plays a central role in the nearshore ecological communities of the west coast of the United States (Morejohn et al., 1978; Hixon, 1983) and it is also a prime focus of California fisheries, ranking first in dollar value and tons landed in recent years (Vojkovich, 1998). The life span of this species is only 7−10 months after hatching, as ascertained by aging statoliths (Butler et al., 1999; Jackson, 1994; Jackson and Domier, 2003) and mariculture trials (Yang, et al., 1986). Thus, annual recruitment is required to sustain the population. The spawning season ranges from April to November and spawning peaks from May to June. In some years there can be a smaller second peak in November. In Monterey Bay, the squids are fished directly on the egg beds, and the consequences of this practice for conservation and fisheries management are unknown but of some concern (Hanlon, 1998). Beginning in April 2000, we began a study of the in situ spawning behavior of L. opalescens in the southern Monterey Bay fishing area.

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We have studied the reproductive biology of the goldlined seabream (Rhabdosargus sarba) in the lower Swan River Estuary in Western Australia, focusing particularly on elucidating the factors influencing the duration, timing, and frequency of spawning and on determining potential annual fecundity. Our results demonstrate that 1) Rhabdosargus sarba has indeterminate fecundity, 2) oocyte hydration commences soon after dusk (ca. 18:30 h) and is complete by ca. 01:30−04:30 h and 3) fish with ovaries containing migratory nucleus oocytes, hydrated oocytes, or postovulatory follicles were caught between July and November. However, in July and August, their prevalence was low, whereas that of fish with ovaries containing substantial numbers of atretic yolk granule oocytes was high. Thus, spawning activity did not start to peak until September (early spring), when salinities were rising markedly from their winter minima. The prevalence of spawning was positively correlated with tidal height and was greatest on days when the tide changed from flood to ebb at ca. 06:00 h, i.e., just after spawning had ceased. Because our estimate of the average daily prevalence of spawning by females during the spawning season (July to November) was 36.5%, individual females were estimated to spawn, on average, at intervals of about 2.7 days and thus about 45 times during that period. Therefore, because female R. sarba with total lengths of 180, 220, and 260 mm were estimated to have batch fecundities of about 4500, 7700, and 12,400 eggs, respectively, they had potential annual fecundities of about 204,300, 346,100 and 557,500 eggs, respectively. Because spawning occurs just prior to strong ebb tides, the eggs of R. sarba are likely to be transported out of the estuary into coastal waters where salinities remain at ca. 35‰. Such downstream transport would account for the fact that, although R. sarba exhibits substantial spawning activity in the lower Swan River Estuary, few of its early juveniles are recruited into the nearshore shallow waters of this estuary.

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Novel data on the spatial and temporal distribution of fishing effort and population abundance are presented for the market squid fishery (Loligo opalescens) in the Southern California Bight, 1992−2000. Fishing effort was measured by the detection of boat lights by the Defense Meteorological Satellite Program (DMSP) Operational Linescan System (OLS). Visual confirmation of fishing vessels by nocturnal aerial surveys indicated that lights detected by satellites are reliable indicators of fishing effort. Overall, fishing activity was concentrated off the following Channel Islands: Santa Rosa, Santa Cruz, Anacapa, and Santa Catalina. Fishing activity occurred at depths of 100 m or less. Landings, effort, and squid abundance (measured as landings per unit of effort, LPUE) markedly declined during the 1997−98 El Niño; landings and LPUE increased afterwards. Within a fishing season, the location of fishing activity shifted from the northern shores of Santa Rosa and Santa Cruz Islands in October, the typical starting date for squid fishing in the Bight, to the southern shores by March, the typical end of the squid season. Light detection by satellites offers a source of fine-scale spatial and temporal data on fishing effort for the market squid fishery off California, and these data can be integrated with environmental data and fishing logbook data in the development of a management plan.

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Streamer tags are commonly used to study the ecology and population biology of the American lobster (Homarus americanus). Aquarium observations suggest that streamer tag loss, either through tag-induced mortality or tag shedding, is related to the molt stage of the lobster at the time of tagging, and the molting event itself. Tag-induced mortality, where lobsters did not molt, occurred within eleven and sixteen days following tagging for lobsters tagged in postmolt (4%) and late premolt (10%) stages, respectively; whereas no lobsters tagged in early premolt or intermolt stages died. Taginduced mortality at time of molting was observed for lobsters tagged in late premolt stage (11%), and tag shedding was observed for lobsters tagged both in early (25%) and late premolt (11%) stages, but was significantly higher (P=0.014) for lobsters tagged in early premolt stages. Autopsies revealed that lobsters died mainly of organ perforations (hepato-pancreas and pericardial sac) following the tagging process, and rupture of the dorsal thoraco-abdominal membrane during the molting process. The total tag loss was estimated at 4% for lobsters tagged after molting, and 27% and 31% for lobsters tagged in early and late premolt stages, respectively. There was no tag loss for lobsters tagged in the intermolt stage during four months of laboratory observations (July−October). To minimize streamer tag loss, lobsters should be tagged during the intermolt or postmolt stage. Based on field studies, recapture rates for lobsters tagged in premolt stage are always lower than those of lobsters tagged in postmolt stage. Furthermore, recapture rates during the second year, for lobsters that molt in the year following tagging, were drastically reduced, and no lobster was recaptured after four years at large. Finally, to account for tag loss during the first year at large, a minimal adjustment of 24.9% (SD 2.9%) and 4.4% (SD 1.6%) for the recapture rate of lobsters tagged immediately before and after the molting season, respectively, is recommended. Adjustments beyond one year at large are not recommended for the American lobster at this time.

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The sectioned otoliths of four fish species from a tropical demersal trawl fishery in Western Australia revealed a series of alternating trans-lucent and opaque zones in reflected light. The translucent zones, referred to as growth rings, were counted to determine fish ages. The width of the opaque zone on the periphery of the otolith section as a proportion of the width of the previous opaque zone (index of completion) was used to determine the periodicity of growth-ring formation. This article describes a method for modeling changes in the index of ring completion over time, from which a parameter for the most probable time of growth-ring formation (with confidence intervals) can be determined. The parameter estimate for the timing of new growth-ring formation for Lethrinus sp. 3 was from mid July to mid September, for Lutjanus vitta from early July to the end of August, for Nemipterus furcosus from mid July to late September, and for Lutjanus sebae from mid July to mid November. The confidence intervals for the timing of formation of growth rings was variable between species, being smallest for L. vitta, and variable between fish of the same species with different numbers of growth rings. The stock assessments of these commercially important species relies on aging information for all the age classes used in the assessment. This study demonstrated that growth rings on sectioned otoliths were laid down annually, irrespective of the number of growth rings, and also demonstrated that the timing of ring formation for these tropical species can be determined quantitatively (with confidence intervals.

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The larval ontogeny of a developmental series (1.2-8.3mm body length, BL) of Synagrops philippinensis from Kagoshima Bay, southern Japan is described and illustrated. The yolk was completely absorbed in larva of ≥1.5 mm BL. Notochord flexion commenced at about 3.5mm BL and was completed by about 4.0-4.5mm BL. S. philippinensis larvae were distinguished from their congeners based on melanophore patterns, head spination and fin spines and rays. Larvae of 7.5-8.3 mm BL were characterized by anteriorly serrated pelvic spine, two anal spines, nine inner preopercular spines and no melanophore on lateral side of the caudal peduncle; 7.0 to 7.5mm BL larvae by the above characters except serration on pelvic spine; and yolk-sac, pre-flexion, flexing and post-flexion larvae up to 7.0mm BL by unique melanophores on lower lobe of pectoral finfold/fin.

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Imphal is the main marketing centre of fish in Manipur. As fish production of the state is not sufficient to meet the demands, about 120 metric tons of iced fishes are annually brought from other states and sold in this market. Microbiological quality of iced Wallago attu, Labeo rohita, L. gonius and Aorichthy aor in respect of total fungal count (TFC), total plate count of bacteria (TPC), Most Probable Number (MPN) of coliforms, Streptococci, Staphylococcus, Salmonella and Escherichia coli in four tissues (skin, muscle, gill and intestine) were analysed. In all cases, the counts were highest in the gills and lowest in the muscles. The values of TFC, TPC, coliforms, Streptococci and Staphylococci were 0-10³/g 10(sup)6-10⁸/g, 2-α/g, 10-10⁵/g, 10-10⁵/g respectively. E. coli and Salmonella were not detected in any of the samples while the ice used in the preservation contained 10⁵-10⁷ of TPC per gram. The microbiological qualities of the iced fishes of Imphal market were adjudged poor. The extremely high counts of bacteria might be due to (1) poor quality and left over fishes being packed, (2) contact with contaminated ice and (3) repeated thawing and freezing during the process of marketing and transportation.

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Since the inception of the tuna long line fishery in the Indian Ocean in 1952, an annual average of 10% of the number of tunas and spear fishes caught continues to be damaged by sharks. In spite of the fact that this method of fishing for tunas is also resulting in the exploitation of a significant quantity of the tuna-preying sharks, the extent of the damage by these predators continues to be fairly constant. Quite often the damaged tunas are acceptable to the market, especially for canning. On the other hand report of damage caused by killer-whales, occasional at the beginning of the fishery in the Indian Ocean, has been increasing in frequency each year and since 1960 tuna fishermen have been desperately calling for ways and means of reducing the damage caused by these mammals. Unlike sharks killer-whales do not get hooked on the tuna long line; and tunas damaged by killer-whales are almost always unfit even for canning. The problem of predation by killer-whales exists not only in the whole of the Indian Ocean including the Timor and Banda Seas but also in the Atlantic and Pacific Oceans, especially in the seas around New Guinea, Samoa, Caroline and Marshal Islands. The seriousness of this problem of predation was highlighted at the annual tuna research conference held in Kochi, Japan, in February 1963, and steps were taken to devote considerable attention to this problem.