Japan’s Nissui Snaps Up Chilean Salmon Business Pesquera Yadran

Credit: Chalrumpon Onnongwa/Shutterstock

Japan’s Nissui Corp. has acquired Chilean salmon farming business Pesquera Yadran for $133m.

Nissui said coming (16 December) that nan woody has been struck done its caller salmon farming and processing subsidiary Salmones Antartica based successful Chonchi, Chile. It is expected to adjacent successful January.

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Tokyo-headquartered Nissui is buying Pesquera Yadran from nan finance firms Inversiones Yadran, Chile Market Limitada Servicios y Asesorias Financieras, and Inversiones Crucol.

Pesquera Yadran operates successful nan farming and processing of Atlantic salmon supplied to overseas markets including North and Latin America, and Asia. The business was loss-making successful 2024 to nan tune of $45.5m, compared to a profit attributable to its owners of $430,000 successful nan erstwhile 12 months, according to a connection from Nissui.

Revenue dropped almost 19% to $222m, while operating profit turned to a nonaccomplishment of $21.5m. Pesquera Yadran delivered a profit of $16.3m successful 2023.

Nissui described nan nonsubjective down nan transaction: “To realise nan company’s semipermanent vision, nan institution intends to found a unchangeable business portfolio by 2030 successful which nan nutrient products business and nan marine products business are well-balanced, pinch overseas marine products and nutrient products businesses, [the] aquaculture business, and good chemicals business serving arsenic maturation drivers.

“Strengthening nan aquaculture business is considered a cardinal facet not only for nan marine products business but besides for improving nan profitability of nan full Nissui Group.”

As a consequence of nan transaction, nan Japanese institution will besides inherit nan Pesquera Yadran subsidiary Cultivos Yadran.

Pesquera Yadran operates a salmon processing works successful Quellón, Los Lagos, pinch an yearly accumulation capacity of 40 tonnes, according to its website. It besides runs 4 food farms raising astir 6.5 cardinal smolts a year.

For Nissui, nutrient and marine products are nan largest rate generators for nan business. Teru Tanaka became president and CEO successful May, winning promotion from an executive for nan marine division.

The group delivered a 6.6% summation successful full income for nan afloat twelvemonth done March to Y886.13bn ($5.7bn). Food products accounted for Y471.1bn and marine products Y364.1bn.

Group operating profit roseate 7.1% to Y31.8bn while profit attributable to Nissui’s owners climbed 6.4% to Y25.3bn.

A second-quarter trading update for nan caller fiscal twelvemonth was issued successful November, showing group gross accrued 2.8% to Y452.9bn. Food income were up 5% astatine Y251.7bn and marine merchandise income edged up 1.8% to Y178.8bn.

Nissui’s full operating profit climbed 14.6% to Y19.7bn and profit attributable to nan owners roseate 13.7% to Y14.2bn.