(seafood.vasep.com.vn) The seafood processing company Kyokuyo has just opened a seafood processing plant in Vietnam to reduce its reliance on China. In Japan, Kyokuyo ranks as the third-largest seafood producer, following Maruha Nichiro and Nissui.
Kyokuyo, Japan's third-largest seafood processing company, has invested 12.65 million dollars to build a new factory in Vietnam amidst concerns about water safety in Fukushima and over-reliance on the Chinese market.
The factory, located in Long An Province, is expected to export products such as crab and fish fillets worldwide, including to Japan and Southeast Asia. According to Kyokuyo, the plant will be equipped with modern machinery imported from Japan and Europe and will require around 800 general workers. The factory is expected to become fully operational by February 2025, with an annual output of 5,000 tons.
Earlier, in May 2024, Kyokuyo assessed that the seafood industry was facing challenges due to the release of treated wastewater from the Fukushima nuclear plant and increasing risks in China from economic slowdowns and foreign policy issues.
To adapt, the company has expanded production in Thailand and North America and supplemented its supply chain with the Kyokuyo Vina Foods factory in Vietnam.
According to 2022 data from the Observatory of Economic Complexity, the U.S. and Japan are the world's largest seafood import markets, while Vietnam, China, and Thailand are among the top five leading exporters.