The president and CEO of the Mitsubishi Corporation, Ken Kobayashi, met with Norwegian Prime Minister Erna Solberg in Oslo and took the opportunity to reaffirm his company’s long-term commitment to salmonid producer Cermaq.
Mitsubishi acquired the Norwegian state's shareholding in Cermaq last October, making the salmon farmer a wholly-owned subsidiary of the Tokyo-based trading and investment firm.
In his meeting with Prime Minister Solberg, Kobayashi emphasized Mitsubishi Corporation's commitment to further developing Cermaq as a leading global company in sustainable salmon farming.
“Mitsubishi Corporation's strategy is to develop our business through investing in businesses with growth potential. Salmon farming has significant growth potential as it presents a sustainable alternative for fulfilling growing demand for safe, healthy and tasty seafood around the world, particularly in Asia where markets are rapidly expanding. We feel that Cermaq is an ideal partner due to its strong commitment to sustainability, which fits well with Mitsubishi Corporation's long-term perspective,” said Kobayashi.
Mitsubishi has a long history in seafood with strong market positions in tuna and shrimp and other seafood businesses.
Last year, Cermaq sold 136,700 metric tons (MT) of salmonids, which was 4 percent less than in the previous year. The company expects its sales volumes to increase this year, with larger harvests from Norway, Chile and Canada.
