Japan's Mitsubishi expands in salmon farming with acquisitions Norway and Canada
Faced with volatile fossil fuel markets and in search of stable revenue streams, Mitsubishi and its rivals have been diversifying into the food business, where demand is set to grow alongside a rising world population.
"In recent years, securing food resources has become a critical global challenge driven by population growth," Mitsubishi said in a statement, without disclosing the price of the deal.
The acquisition of three companies from Norwegian Grieg Seafood ASA was made via Cermaq Group, Mitsubishi's salmon farming company with assets in Norway, Canada and Chile. It will boost salmon production to around 280,000 tons in the 2027 fiscal year, up from some 200,000 tons produced by Cermaq annually now.
Salmon is among the most popular sushi items in Japan, but the bulk of it is imported from other countries, including Norway and Chile. Japan aims to raise the share of locally sourced seafood it consumes to 94% in 2033 from 54% now.
In October, Marubeni began selling salmon from a farm operated near Mount Fuji by its Norwegian partner, adding to the seafood business where its rivals Mitsubishi and Mitsui are also present.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
21 minutes ago
- Yahoo
EU, U.S. heading towards 15% tariff deal, EU diplomats say
BRUSSELS (Reuters) -The European Union and the United States are heading towards a trade deal that would result in a broad tariff of 15% applying to EU goods imported into the United States, two diplomats said on Wednesday. The rate, which could also extend to cars, would mirror the framework agreement the United States has struck with Japan.
Yahoo
21 minutes ago
- Yahoo
Parvis Announces Board Changes: Appointment of Noah Murad and Resignation of Roy Murad
Vancouver, British Columbia--(Newsfile Corp. - July 23, 2025) - Parvis Invest Inc. (TSXV: PVIS) ("Parvis" or "the Company"), a technology-driven private investment platform, today announced that Roy Murad has stepped down from the Company's Board of Directors, effective July 21, 2025. The Company extends its sincere thanks to Mr. Murad for his contributions and wishes him well in his endeavours. Parvis is pleased to announce the appointment of Noah Murad as Director effective July 21, 2025. Noah Murad is the Managing Partner of Bluestar Equity, a private family investment office owned by the Murad Family. He brings extensive experience in private markets and long-term capital stewardship. Noah holds a BA from Western University and an MBA from Athabasca University. "We are delighted to welcome Noah to the Board as we scale the business and pursue new opportunities," said David Michaud, Chief Executive Officer of Parvis. "His expertise and connectivity within the Canadian capital ecosystem will be invaluable as we advance our strategic objectives." About the Company Parvis is a technology-driven investment platform dedicated to democratizing access to institutional-quality opportunities. Utilizing AI and blockchain technology, Parvis streamlines the investment process, making it more accessible and efficient. Headquartered in Vancouver, Parvis operates with experts in Toronto, Vancouver, Kelowna, and Montreal. For more information, visit and SEDAR+. Cautionary Statement Regarding Forward-Looking Information This news release contains "forward-looking information" and "forward-looking information" within the meaning of applicable securities laws (collectively, "forward-looking statements") within the meaning of Canadian securities legislation. Forward-looking information generally refers to information about an issuer's business, capital, or operations that is prospective in nature, and includes future-oriented financial information about the issuer's prospective financial performance or financial position. Forward-looking statements are often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions and includes information regarding: execution and integration of the investment offerings; and the Company's business plans and role in the investment industry. To develop the forward-looking information in this news release, the Company made certain material assumptions, including but not limited to: prevailing market conditions; general business, economic, competitive, political and social uncertainties; and the ability of the Company to execute and achieve its business objectives. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company assumes no obligation to update or revise the forward-looking information in this news release, unless it is required to do so under Canadian securities legislation. Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction. For further information: David Michaud, CEO, Parvis Invest david@ 1-844-487-4866 For media inquiries, please contact:Katie Green, August Strategy katie@ Follow us on social media:Instagram: @ParvisInvestFacebook: ParvisInvestLinkedIn: Parvis To view the source version of this press release, please visit Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
21 minutes ago
- Yahoo
Sony explores sale of cellular chipsets business, sources say
By Milana Vinn NEW YORK (Reuters) -Sony Group is exploring a sale of its unit that provides cellular chipsets for connected devices, as the group shifts its focus to the entertainment segment, according to three people familiar with the matter. The Japanese technology and entertainment conglomerate is working with investment bankers on the sale of Sony Semiconductor Israel, which is currently in the early stages, the sources said. It generates about $80 million in annual recurring revenue and is expected to be valued at close to $300 million in any deal, the sources said. The business is expected to attract interest from financial sponsors and semiconductor industry players, added the sources. Sony declined to comment. The sources requested anonymity as the matter is not public. Formerly called Altair Semiconductor, Sony Semiconductor Israel provides cellular chipsets for connected devices such as wearables, smart meters, and home appliances. Sony acquired the business in 2016 for $212 million. Sony has been increasing its focus on games, movies, and music, with more than 60% of its profit coming from entertainment last year. As part of its portfolio reshaping, Sony is preparing for a partial spinoff and direct listing of its financial services arm later this year. A leading maker of image sensors, Sony said in April it is considering options for its chips division, including bringing in investment partners or adopting a fab-light strategy. Sign in to access your portfolio
