October 4, 2022
Japan firm to issue first "marine blue bonds" for sustainable fishing and aquaculture businesses
Major Japan seafood company Maruha Nichiro has announced that they will the issue the first "marine blue bonds", with the funds raised from the bonds to be used for environmentally sustainable fishing and aquaculture businesses, Fish Information & Services reported.
Through a joint venture investment with Mitsubishi Corporation, the funds are anticipated to be invested in a land-based Atlantic salmon farming facility in Nyuzen-cho, Toyama Prefecture.
The company aims to commercialise Atlantic salmon farming while minimising its negative effects on the environment and completing the entire process from egg development to adult fish growth on land.
The bonds issue amount is JPY 5 billion (~US$34 million; JPY 100 = US$0.69) A five-year issuance period is planned, and Japanese investment banking and securities firm Mizuho Securities will act as the structuring agent for the issuance.
The fishing and aquaculture industries will primarily benefit from the money raised from the bonds.
- Fish Information & Services