April 5, 2006

Acquisition of Shares in Brazilian Seafood Distributor (Nordsee)

Nippon Suisan Kaisha, Ltd. ("Nissui"; Naoya Kakizoe, President & CEO) has concluded a basic agreement to acquire a 40% share in seafood distributor Nordsee (Head office: San Paulo, Brazil), together with Friosur S.A.(*), which will also acquire a 40% share in the company.

Nordsee has hence purchased seafood from Nissui South American group company Friosur, and has been growing especially as a supplier targeting the foodservice sector. Through the share acquisition, Nissui expects Norsdsee to strengthen its competitiveness in the seafood market in Brazil (population 181 million) by selling salmon, trout, white-fleshed fish and other seafood produced by Nissui Group companies, and to achieve higher growth by taking advantage of the Group's seafood supply chain functions and R&D functions.

Nissui is currently working to establish a global supply chain and achieve market globalization in accordance with its new medium-term management plan for the period from 2006 to 2011, dubbed the New TGL (Toward Global Links) Plan. Nissui's acquisition of shares in Nordsee is compatible with this strategy, and aimed at raising the overall competitiveness of the Nissui Group. The Nissui Group in South America currently consists of salmon and trout farming company Salmones Antartica as well as seafood producers EMDEPES and Friosur (Chile), and PESPSA and PESANTAR (Argentina). The acquisition of shares in Nordsee will enable the Nissui Group to extend its synergies further in the Brazilian market.

(*)Friosur S.A.: Chilean seafood producer in which Nissui has a 45% share. Member of the Nissui Group since 1996.