Okamura Foods to Establish Joint Venture Subsidiary in Hokkaido

TOKYO, May 14 (Pulse News Wire) – Okamura Foods CO.,LTD. (2938.T) announced today that its subsidiary, Nippon Salmon Farm Co., Ltd., has resolved to establish a joint venture subsidiary with Hiyama Fisheries Cooperative and Hakubetsu Town in Hokkaido.

The new entity, set to commence operations in December 2026, will focus on salmon farming and sales in Aomori Prefecture. The purpose of establishing this joint venture includes accelerating the expansion of intermediate fish farms and contributing to regional economic revitalization through the development of related industries. The capital structure involves Okamura Foods' subsidiary holding 51%, followed by Hiyama Fisheries Cooperative with 30% and Hakubetsu Town with 19%. The planned capital investment stands at ¥100 million.

Scheduled for establishment in late May 2026, the new company will operate under the name Nippon Salmon Holdings Co., Ltd. It will engage in the cultivation, processing, and sale of salmon and other marine products. Additionally, three individuals from Okamura Foods and another entity will concurrently serve as directors of the new company, while an auditor from Okamura Foods will also hold a concurrent position as an auditor for the new firm. Regarding future prospects, Okamura Foods anticipates a minor impact on its fiscal year ending June 2026 consolidated performance.

Any further significant developments will be promptly disclosed.