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 Nissui's headquarters inNishi-Shinbashi,Minato, Tokyo | |
| Formerly | Nippon Suisan Kaisha Ltd. (1917-2022) |
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| Company type | PublicKK |
| TYO:1332 Nikkei 225 Component | |
| Industry |
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| Founded | Shimonoseki,Yamaguchi,Japan (1911; 114 years ago (1911)) |
| Founder | Ichiro Tamura |
| Headquarters | Nishi-Shimbashi Square, 1-3-1,Nishi-Shimbashi,Minato-ku,Tokyo 105-8676, Japan |
Area served | Worldwide |
Key people | Shingo Hamada, (CEO andPresident) |
| Products | |
| Revenue |  ¥ 768.1 billion (FY 2022)[1] |
| ¥ 27.78 billion (FY 2022) | |
Number of employees | 10,175 (consolidated) (as of March 31, 2013) |
| Website | Official website |
| Footnotes / references [2][3][4] | |
Nissui Corporation (株式会社ニッスイ,Kabushiki-gaisha Nissui), is a marine products company based inTokyo,Japan. Formerly known asNippon Suisan Kaisha Ltd. (日本水産株式会社,Nippon Suisan Kabushiki-gaisha) from 31 March 1937 to 30 November 2022, it officially changed its name to its common abbreviation on 1 December 2022.
The company was established as the fishery division of Tamura Steamship Company in March 1911 by Ichiro Tamura (田村市郎), a cousin of the head of theFujita Zaibatsu (zaibatsu were large conglomerates in pre-war Japan). Its former headquarters, built in Tobata (Kita Kyushu) in 1929, is now an exhibit center.[5]
It has been listed on the Tokyo Exchange since 16 May 1949, when Japan's stock market was resumed after the Second World War (TYO:1332). It is the only component of theNikkei 225 index from the country's fishery sector.[6]
With 768 billion yen annual sales in FY2022,[7] it is now the second largest commercialfishing and marine product procurement corporation in the country by revenue, only surpassed by theMaruha Nichiro Holdings.[8] Its founding principles state 'A tap water supply system is exactly what marine products should be like in their production and distribution'.[9]
In 2005, the company divested its whaling fleet following controversy for its role in the modern global whaling industry (seeWhaling in Japan).[10]
As of 2013, the company has 61subsidiaries and 44 associated companies acrossJapan,Australia,New Zealand,Asia,Europe andNorth andSouth America.[11]
In FY2022, Nissui had 9515 employees and a total net asset of 220.6 billion Yen. As of 10 February 2023, its market capitalisation is 283 billion Yen. Nissui's CEO is Shogo Hamada, who has a degree offisheries science from theUniversity of Tokyo[12] and has been working for the company since 1983.[13]
Afterexclusive economic zones (EEZ) were introduced by the 1982United Nations Convention on the Law of the Sea, Nissui's traditional business model of pelagic fisheries collapsed, as most ofcontinental shelves, where Nissui's ships used to fish, was now to be controlled by other countries. No longer running a profitable business, Nissui found itself unable to allocate any of its profit to dividends for the first time in its history as a publicly traded company in 1991.[14][15]
This business downturn became an impetus for the company to change its business model, and during the 1990s it invested heavily in aquaculture of salmon by its Chilean subsidiary Emdepes, extraction of Eicosapentaenoic acid from fish for pharmaceutical use, and production of frozen food. It also started to diversify the sources of fish supply by establishing and acquiring subsidiaries around the world.[15]
These efforts gradually proved successful, and its main sources of revenue are now its traditional fishery&marine products business, and the fine chemical and processed food divisions. Today, its subsidiaries across the world not only contribute to the stabilisation of Nissui's supply chain as originally intended but also sell products that cater to the needs of each country. Its US subsidiaryGorton's of Gloucester is the top supplier of frozen marine products, and supplies hamburgers toMcDonald's. Its New Zealand subsidiarySealord is the largest supplier of fried fish and one of the largest food companies in the country. Its French subsidiaryCité Marine holds a similar position in the French frozen food market.[16][17]
Nissui has been working to make land-basedaquaculture commercially viable. Nissui's current aquaculture business, mainlysalmon andJapanese amberjack, is mostly conducted in the traditional way of ocean-based aquaculture, meaning they keep fish in segregated areas of harbours or in tanks that are connected to ocean. However, keeping fish in ocean water means they are prone to get diseases or affected by natural conditions, which sometimes result in worst scenarios such as annihilation. This method also has a large impact on the ecosystem that share the water. Thus, from both the perspectives of business stability and environmental friendliness, land-based aquaculture is more desirable. In April 2023, as Nissui's first land-based commercial aquaculture project, awhiteleg shrimp farm started operations inEi, Kagoshima. Amackerel farm is also planned to start commercial operations in 2026.[18][19][20][21]
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