Okamura Foods subsidiary Japan Salmon Farm Co. will establish a joint venture in Yakumo Town, Hokkaido, focused on the farming, processing and sale of trout, other fish species and seaweed, according to a press release from the company.
The new venture, Japan Salmon Farm Yakumo Co., Ltd., will be formed together with the Hiyama Fisheries Cooperative Association and the local municipality. Japan Salmon Farm will hold a majority stake.
The venture forms part of Okamura Foods’ Medium-term Management Targets 2030 strategy, which includes plans to increase domestic aquaculture production capacity to 12,000 tonnes and expand overseas wholesale operations.
Okamura Foods said the project is intended to increase production capacity at its land-based aquaculture facilities while strengthening cooperation with local authorities and fisheries groups in Hokkaido.
The company added that the initiative is also aimed at supporting regional economic activity and related industries in the area.
Okamura Foods operates a vertically integrated seafood business spanning aquaculture, processing and sales.