The impact and history of Detroit cars, Motor City
Below are some facts about Detroit’s automotive industry.
Japanese trader 8058.T said Thursday that it will expand salmon agriculture by acquiring additional companies in Norway and Canada as Japanese companies continue to grow in the food sector with a focus on protein.
In the face of a volatile fossil fuel market and seeking a stable revenue stream, Mitsubishi and its rivals are diversifying into a food business where demand is set to grow with the growth of the world’s population.
“In recent years, securing food resources has become an important global challenge driven by population growth,” Mitsubishi said in a statement.
The three acquisitions from Norwegian Grieg Seafood ASA were made through Cermaq Group, Mitsubishi salmon farming company with assets in Norway, Canada and Chile. In fiscal year 2027, we will increase the salmon production from approximately 200,000 tons produced by Cermaq annually to approximately 280,000 tons.
The acquisition price is a Norwegian crown of 10.2 billion ($988.33 million), Cermaq said in a separate statement.
Salmon is one of Japan’s most popular sushi items, but the majority of them are imported from other countries, including Norway and Chile. Japan aims to increase its share of locally produced seafood consumed in 2033 from 54% to 94%.
In October, Marubeni 8002.T began selling salmon from a farm run near Mount Fuji by its Norwegian partner, and joined the seafood business, which also has rivals Mitsubishi and Mitsui 8031.T.
($1 = 10.3204 Norwegian Crown)
Report by Katya Golubkova. Edited by Sharon Singleton and Rachna Uppal
