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Maruha Nichiro sees global expansion

March 24, 2008

Maruha Nichoro`s CEO, Yuji Igarashi, once again stressed that the newly born seafood giant focuses global operations.

“Maruha itself was originally a global company. We secure seafood raw materials from over 70 countries and the company has production bases and sales offices out of the country. With the merger with Nichiro, we will be able to accelerate our global expansion”, said Igarashi. “Take the North America operations, when sales of Peter Pan Seafoods and Golden Alaska are combined, annual sales will be \75 billion. Nichiro has a production base in China and Maruha has Kingfisher in Thailand. One of the key features of the new company is enhancement of global operations.”

Maruha Nichiro`s overseas sales for the fiscal year ending on Mar.31 will grow by 20 percent to \90 billion, and Igarashi is even eager to set higher goals.

“We expect our overseas sales for the fiscal year will increase 20 percent to over \90 billion. We will expand our overseas sales to \150 billion, \100 billion at an early stage.”

At home in Japan the company will capitalize on both Maruha and Nichiro`s strengths and boost its presence.

“Maruha`s seafood procurement ability and Nichiro`s strength in product development will be consolidated. We will be able to make a consistent formulation from sourcing to end users with the integration and will capitalize the two companies` strength. Our strategy at home will be focused on increase in market share, launching new product lines and creating products with higher values.”

Tatsuhiko Tanaka, chairman of the company said establishing an enterprise that fascinates young workers will be important now that fresh air is injecting into the new seafood firm.

“Source of competitive edge comes from young generations. We are rejuvenated with new order and we would like to rebuild a company that will be listed on top 30 best companies to work for among college students.”

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