August 10, 2010

Nomura to invest US$1.6 billion in seafood industry

World's leading financial services group Nomura Securities Co. plans to assemble up to JPY140 billion (US$1.636 billion) through its investment fund specifically targeting international fisheries-related businesses amid growing global demand for seafood.

The company would raise the fund during August 9-19, while Amundi Japan Ltd, a Japanese arm of the French asset management company Amundi, will begin managing the fund on August 20.

Amundi was established after the merger of asset management companies from Credit Agricole S.A. and Societe Generale. Amundi Japan manages JPY3 trillion (US$34.7 billion) as of July 1, 2010.
 

"Fishery is a growing industry globally, although it's not recognised as such in Japan. Considering the demand for fish, profits of fisheries are not easily influenced by broader economic trends," said Naoyuki Hamada, senior executive officer at Amundi Japan.

Around 30% of the funds are to be invested in businesses in Japan, while around 40% would be invested in the US, according to Nomura.

The company also plans to invest in companies in emerging economies such as Thailand and Brazil, as well as in countries with more developed fisheries industries, such as Norway.

The fund's portfolio will initially consist of 40 to 70 stocks of companies involved in fishing, aquaculture, fishing equipment and companies in the food service industry.

Nippon Suisan Kaisha Ltd, Marine Harvest ASA, China Fishery Group Ltd and Nutreco NV are among companies the fund will consider investing in. Other targets may include Jarden Corp, which sells fishing equipment, and Kappa Create Co, a sushi restaurant operator, said Hamada.