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Nippon Suisan Launches Into Tilapia Farm in Brazil

May 26, 2010

Nippon Suisan is slated to launch into tilapia and shrimp aquaculture operations as well as seafood processing and marketing in Brazil. Through Desarrollo Oceanico S.A. (DOSA), a consolidated subsidiary of Santiago-based Nippon Suisan American Latina S.A. (NAL; 100% Nissui owned), Nippon Suisan will participate in a new Brazilian-headquartered company Netuno International. Netuno International will be set up by the Brazil's largest aquaculture, seafood processor, and marketer Netuno Alimentos and DOSA. The new company will take over and engage in the entire operations of Netuno Alimentos.

This is the second group company in Brazil by Nissui Group, following a seafood distributing firm Nordsee (San Paulo) invested in 2006.

DOSA will end up absorbing $15 million and possessing 50.1 percent of Netuno International stocks. This is the first tilapia farm operation Nissui Group has ever undertaken, enabling the Group to further access marine resources as well as to extend its sales channel to a new developing market with the largest number of population in South America.

The aforementioned investment was part of the medium-term management plan (the New TGL Plan from 2006 to 2011). By the simultaneous execution of strategic foray into an aquaculture sector and development of new markets, the Group is to strengthen local links in South America to global links.

The original article was published on May 26, 2010 and was translated by Kiyo Hayasaka.

General Meeting of All Japan Purse Seine Fisheries Association Announces Plan to Study Fishing Vessels in Europe

May 26, 2010

The All Japan Purse Seine Fisheries Association held its annual general meeting in Tokyo.

Due to the undesirable health condition of Chairman Hideyuki Aizawa, Vice Chairman Shoji Kawamoto led the meeting and read a chairman's speech: "Decreased fish prices due partly to a drop in exports left us with the total catch amount of \92.5 billon for 2009, down to 75 percent of the previous year. The environment surrounding us is quite harsh." The speech continued: "A project to reorganize fishing vessels and fishery structure is imperative, so that we can deal precisely with this social circumstance. The construction of fishing vessels based on the Profitable Fisheries Project, in particular, must be carried out on a national basis. The 2009 promotional project for large-medium purse seining reorganization will continue in 2010. We will conduct a study of the latest purse seiners in Europe this year. Furthermore, we will call on the government to extend the Profitable Fisheries Project."

Five-Year Extension of Trial Period of Profitable Fisheries Project

Seven new vessels commenced experimental operations in 2009; according to the 2010 management plan, one vessel will begin its trial operation this year and thereafter the constructions of six ships are scheduled. In addition to a six-regional project of large-medium purse seines (Hokubu purse seine, Hachinohe, Ishimaki, Shizuoka Prefecture purse seine, Sakaiminato, and pelagic purse seine), the Association will offer a hand to a to-be-constructed regional project.

Moreover, requests of the Association for the 2010 budget formulation consist of: 1) An extension of a three-year trial period of the Profitable Fisheries Project to five years with an aim for continuingly consistent operations of large-medium purse seine fishing; 2) loosening of a subsidy return rate to 1/3 from 1/2; 3) inclusion of medium-small fishing operators as subordinated loan applicants to Japan Finance Corporation's loan program for medium-small size businesses; and 4) relaxing of a boat reduction rate involving subsidy requirements for stock recovery from over 20 percent to upwards of 10 percent.

As for resource management, the scientific stock evaluation method of coastal pelagic fish varieties, e.g. mackerel, has yet to be established. An estimate of stock calculated each year is therefore set excessively low, just to be cautious. When the previous year's stock forecast results in a gap from the current year's fishing ground formation and shift in catches, prompt revisions in stock, ABC, and TAC during period will be requested.

The original article was published on May 26, 2010 and was translated by Kiyo Hayasaka.

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