Entering the Chinese Seafood Market: Mitsubishi Corporation Esta

Entering the Chinese Seafood Market: Mitsubishi Corporation Establishes Joint
Venture to Process and Supply Seafood in China 
Tokyo, Dec 24, 2013 - (JCN Newswire) -  Mitsubishi Corporation (MC) is pleased
to announce a new partnership, with Zhejiang Ocean Family Co., Ltd. (ZOF), to
establish a joint venture company in Hangzhou, China. The new company, Zhejiang
Daling Seafood Co., Ltd., will process seafood for supply to the Chinese
ZOF specializes in ocean fisheries and the processing, sales and distribution
of seafood. ZOF has also been a pioneer in developing the sushi and sashimi
markets in China through unique sales and marketing methods such as the
introduction of its "Ocean Family" brand of products and the launch
of seafood counters in high-end supermarkets and department stores. The new
company will take over these domestic sales and marketing functions from ZOF
and will draw on the knowledge and experience gained by MC in the Japanese
market to introduce a new style of seafood sales and distribution in China. 
The new company will seek to meet the growing demand for sushi and sashimi by
extending the range of products distributed in the Chinese market, including
products from MC group farms such as Chilean farmed salmon, Thai farmed shrimp
and Japanese farmed tuna, as well as wild tuna caught by ZOF's fishing
vessels. Furthermore, the new company will also handle fresh seafood such as
scallops, saury and yellowtail from Japan. This expansion in the availability
of washoku, or Japanese style cuisine, fits well within the context of an
increasingly diversified Chinese food market. 
New Strategic Direction, MC's new corporate strategy released in 2013,
sets out as part of its long-term growth vision circa 2020 to secure stable
supply sources globally and to capture growing demand in Asia. In keeping with
this strategy, MC is seeking to expand its participation in the global seafood
value chain by linking this new point of distribution and sales in China to
existing supply bases such as the salmon farm in Chile and the shrimp farm in
Thailand, both in operation since 2011. 
About Mitsubishi Corporation 
Mitsubishi Corporation (MC; TSE: 8058) is a global integrated business
enterprise that develops and operates businesses across virtually every
industry including industrial finance, energy, metals, machinery, chemicals,
foods, and environmental business. MC's current activities are expanding
far beyond its traditional trading operations as its diverse business ranges
from natural resources development to investment in retail business,
infrastructure, financial products and manufacturing of industrial goods. With
over 200 bases of operations in approximately 80 countries worldwide and a
network of over 500 group companies, MC employs a multinational workforce of
nearly 60,000 people. For more information, please visit www.mitsubishicorp.com. 
Mitsubishi Corporation
Telephone:+81 3 3210 2171
Facsimile:+81 3 5252 7705 
Copyright 2013 JCN Newswire. All rights reserved. www.japancorp.net 
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