July 21, 2025

Mitsubishi to grow salmon farming through more acquisitions in Norway and Canada

Mitsubishi said on July 17 it would expand its salmon farming by acquiring additional businesses in Norway and Canada, as Japanese companies continue to grow in the food sector, with a focus on protein.

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 tonnes in the 2027 fiscal year, up from some 200,000 tonnes produced by Cermaq annually now.

- Korea Joongang Daily