Publication of the Nissui Group TNFD Report 2025

Nissui first issued a TNFD report in 2023 and has since been advancing the identification of nature-related issues, their reflection in business strategy, and information disclosure, with reference to the final TNFD Recommendations v1.0 and other guidance.
In the inaugural 2023 edition, in accordance with the four pillars (Governance, Strategy, Risk and Impact Management, Metrics and Targets) of TNFD, Nissui comprehensively organized its dependencies and impacts on nature, as well as risks and opportunities, thereby building the foundation for TNFD-aligned disclosure.
In the Report, building on these initiatives, the scope and depth of disclosure have been expanded from the 2023 edition by enhancing the design of assessments, analytical scope, and verifiability, focusing on aquaculture, one of the Group's priority growth areas.

■Key Points of the Report

1．Advancement of assessment design with reference to the Aquaculture Sector Guidance
Based on the nature-related issues identified in the 2023 edition, the 2025 edition follows the TNFD Aquaculture Sector Guidance and identifies the biomes (*2) at salmon farming sites in Chile, as well as conducts surveys and assessments of the state of nature surrounding those sites. In addition, on-site interviews were conducted with reference to ASC (*3) certification standards and other criteria, and dependencies and impacts on nature, as well as risks and opportunities, were organized by priority site.

2．Expansion of analytical scope across the value chain from upstream to downstream
While the 2023 edition mainly provided an overview of overall business activities, the 2025 edition, in addition to this, conducts analysis in accordance with the LEAP approach (*4), covering the upstream to downstream aquaculture value chain as set out in the TNFD Aquaculture Sector Guidance (feed production, freshwater aquaculture, marine aquaculture, and processing).

3．Deepened analysis through two lenses: "bird's-eye" and "worm's-eye"
In addition to a bird's-eye analysis that provides an overview of overall business activities, the worm's-eye view analysis at the site-level does not rely solely on online tools but also incorporates on-site interviews, enabling a more detailed understanding of dependencies and impacts on nature, as well as risks and opportunities.

4．Improved verifiability of assessments and introduction of sector-specific metrics
By referencing ASC certification audit reports and environmental assessment records and cross-checking them with the content of on-site interviews, the verifiability of assessments at aquaculture sites has been enhanced. Furthermore, in addition to TNFD core global disclosure metrics, disclosure items have been organized in accordance with aquaculture sector-specific disclosure metrics.

The Nissui Group's "Declaration on Action of Sustainability" sets forth "reduction of environmental burdens and preservation of the natural environment and biodiversity." In addition, the Group positions "Driving the mainstreaming of marine biodiversity" as one of its material issues and systematically addresses it as a management issue, recognizing natural capital, including marine ecosystems, as a fundamental premise of its business and management decision-making.

The Group will continue to steadily implement measures to address the risks and opportunities identified in the Report, while deepening dialogue with stakeholders through information disclosure and further enhancing both its initiatives and disclosure content.

Nissui will further promote sustainability management that creates value toward a sustainable society and, through its business activities, embody its mission of "creating a healthier, more sustainable future through innovative food solutions."

*1　TNFD (Taskforce on Nature-related Financial Disclosures)
An international organization that aims to develop a framework for companies and financial institutions to appropriately assess and disclose risks and opportunities related to natural capital and biodiversity.

*2 Biome
A geographical area distinguished by the types of plants that grow there according to patterns of rainfall and temperature, such as tropical rainforests, the open ocean, deserts, and lakes.

*3 ASC (Aquaculture Stewardship Council)
A non-profit organization that operates a certification program for seafood produced through responsible aquaculture that takes environmental and social impacts into account.

*4 LEAP approach
An integrated analytical process developed by TNFD for companies and financial institutions to manage nature-related risks and opportunities. It consists of four phases: Locate (the interface with nature), Evaluate (dependencies & impacts), Assess (risks & opportunities), and Prepare (to respond & report).