April
5, 2006
Nissui
to Acquire Shares of European Seafood Distributor Nordic Seafood A/S
Nippon Suisan Kaisha, Ltd. (Naoya Kakizoe, President & CEO) has agreed
with Nordic Seafood A/S (hereinafter referred to as "Nordic"), a seafood
distributor in Europe, to acquire 35% of Nordic's shares. The agreement
will actually be signed between Nordic and Nissui Europe, Nissui's consolidated
subsidiary in Europe, which will be making the investment.
| This acqusition is based on Nissui's European strategy
under the New TGL (True Global Links) medium-term management plan: 2006-2011.
The objective is as follows: |
| |
Enhance the accessibility to the continually-growing European seafood
market. The addition of Nordic to the Nissui Group will make it possible
to expand our sales area and extend our market even to the foodservice
sector, in addition to existing industrial clients. Consequently, Nissui
Group will make its presence known in the European seafood market and
will be able to gain a competitive advantage for future growth, as its
sales in Europe will amount to approximately ¥27 billion. |
| Shareholders of Nordic after the acquisition will be
Nissui Europe (35%), Sealord Group(*) (35%) and others including the
current management (30%). |
Nissui seeks to establish a global supply chain and globalize markets
according to the New TGL plan (medium-term management plan: 2006-2011).
The management committed to make efforts to implement the plan by way
of acquiring the Nordic shares in order to increase the value of Nissui
Group.
* Sealord Group Ltd.:
A leading fishery company in New Zealand which became a member of the
Nissui Group after Nissui acquired 50% of its shares in 2001. Its main
markets are Europe and the United States, and Japan.
| [Profile of Nordic Seafood A/S] |
| • Name : |
Nordic Seafood A/S |
| • Head Office : |
Hirtshals, Denmark |
| • Representative : |
Alex Jensen (President) |
| • Established : |
1988 |
| • Sales : |
Approx. ¥10.5 billion (FY2005 forecast) |
| • Sales areas : |
Denmark (37%), Germany (20%), Sweden (10%),
Russia (8%), Austria (8%), etc. |
| • Clientele : |
Foodservice (66%), industrial clients (23%), retailers (11%) |
| • Number of Employees : |
45 |
