Marubeni and Proximar Announce Exclusive Sales and Distribution Agreement for Fresh Atlantic Salmon in Japan

Apr. 20. 2022
Marubeni Corporation
Proximar Seafood AS

Marubeni Corporation (hereinafter, “Marubeni”) and Proximar Seafood AS (hereinafter, “Proximar”) have reached an agreement that Marubeni will be the exclusive distributor in Japan for all the Atlantic salmon produced by the closed recirculating aquaculture system (hereinafter, “RAS”) which Proximar is constructing in Japan. The facility is located close to Mount Fuji outside Tokyo and will be supplying fish to the market from mid-2024.

“Teaming up with Marubeni is a key part of our partnership strategy and brings us one step closer to supplying fresh salmon to the Japanese market. We now have a sales and distribution partner in Japan with superior market insight and access, reducing risk and increasing pricing power. The agreement with Marubeni provides Proximar significant resources in terms of sales and marketing, and we share the same views in terms of our products’ attractiveness.,” says CEO of Proximar, Joachim Nielsen.

General Manager of Marubeni’s Fresh Food Dept., Kazunari Nakamura, adds, “Japan's self-sufficiency rate for fisheries products is only 57%, and securing a stable supply of these products is now a social issue due to the rising consumption of these products overseas and increasing geopolitical risks, like pandemic. In this environment, we feel that it is of great social significance to participate in a project to produce Atlantic salmon, which is much preferred by Japanese consumers, here in Japan. Together with Proximar, we will continue to take on the challenge of ensuring a stable supply of Atlantic salmon for Japanese consumers.”

The agreement covers sales of all volumes produced by Proximar for the Japanese market and has an initial term of 10 years. Both parties will be actively involved in the marketing efforts, with the aim to build a strong premium sustainable seafood brand.

Worldwide demand for salmon is expected to increase due to population growth, the improved dietary quality mainly in emerging economies, and increasing health consciousness in developed countries. However, the supply of wild and sea-farmed salmon is coming to a head in terms of ecosystem protection and the lack of suitable areas for sea-farming. Under these circumstances, the RAS technology, which is not geographically restricted and has a low environmental load in terms of water pollution and run-off of farmed fish, is expected to be one way to ensure a sustainable and stable supply of seafood products. In Japan, the demand for Atlantic salmon is growing, and Japanese consumers have a strong preference for freshness and appreciation of local produce. In recent years, consumer awareness related to sustainability has also been increasing.

The specific location of Proximar’s land-based RAS facility is Oyama-cho, Shizuoka Prefecture, and will be Japan's first large RAS plant to produce Atlantic salmon. The annual demand for Atlantic salmon in Japan is approximately 60,000 tons. The construction of Proximar’s facility will be completed in 2023 and its hatchery will start operation from 3Q 2022, with harvesting to begin from mid-2024. For 2024, the expected harvested volume is around 2,500 tons (head on gutted weight), increasing to targeted 5,300 tons (head on gutted weight) when operating at full capacity in 2027.

Marubeni, with its subsidiary Benirei Corporation at its core, has a certain market share in Japan for handling wild and sea-farmed salmon and has invested in Danish Salmon A/S in Denmark, which is one of the world's largest RAS-based Atlantic salmon producers, since April 2020. As the exclusive distributor for domestic Atlantic salmon produced by Proximar in RAS, Marubeni will expand its environmentally friendly food business and contribute to the stable supply of sustainable food with a reduced environmental impact. In addition, Marubeni will contribute to strengthening the food supply chain and the supply of locally produced and consumed food, the importance of which has recently been reaffirmed.

Signing Ceremony Signing Ceremony

Left : Marubeni General Manager of Fresh Food Dept. Kazunari Nakamura
Right:Proximar Seafood AS CEO Joachim Nielsen

Rendering of the Aquaculture Farm Rendering of the Aquaculture Farm
About Marubeni
Name Marubeni Corporation
Head Office 4-2, Ohtemachi 1-chome, Chiyoda-ku, Tokyo 100-8088, Japan
Established December 1, 1949
Rep. Masumi Kakinoki
Main Business Marubeni Corporation and its consolidated subsidiaries use their broad business networks,
both within Japan and overseas, to conduct importing and exporting (including third country trading),
as well as domestic business, encompassing a diverse range of business activities across wide-ranging
fields including lifestyle, ICT & real estate business, forest products, food, agri business, chemicals, energy,
metals & mineral resources, power business, infrastructure project, aerospace & ship, finance & leasing business,
construction, industrial machinery & mobility, and next generation business development.
Additionally, the Marubeni Group offers a variety of services, makes internal and external investments,
and is involved in resource development throughout all of the above industries.
Website https://www.marubeni.com/en/
About Proximar
Name Proximar Seafood AS
Head Office Edvard Griegs vei 3c, NO-5059 Bergen, Norway
Established 2015
Rep. Joachim Nielsen
Main Business Proximar is a Norwegian land-based salmon farming company with its first RAS production facility
under construction at the foot of Mount Fuji in Japan. Through land-based fish farming,
the company will serve the Japanese market with fresh Atlantic Salmon, harvested the same day.
Proximar’s location, in one of the world’s most important fish markets, implies significant advantages,
both in terms of reduced cost and carbon footprint.
Website https://www.proximarseafood.com/