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 market.

 

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.

 Outline of New Company

 

Company Name	Zhejiang Daling Seafood Co., Ltd.
Business Activities	Seafood Import & Export / Processing / Sales & Distribution
Capital Stock	10 Million US Dollars
Shareholder	ZOF 75%, MC 25%
Number of Employees	200
Head Office	Hangzhou, China

 

(1) Head Office:                      Hangzhou, China

(2) Business Activities:          

Ocean fisheries, Seafood processing, Seafood sales & distribution.

(3) Representative:                Zeng Yue Xiang         

(4) Date Established:              1999

(5) Number of employees:     3,500 (consolidated, as of November 31, 2013)

 

 

(1) Head Office:                      2-3-1, Marunouchi, Chiyoda-ku, Tokyo, Japan

(2) Businesss Activities:       

Mitsubishi Corporation has seven Business Groups which develop operations in the diverse fields of Global Environmental & Infrastructure; Industrial Finance, Logistics & Development; Energy; Metals; Machinery; Chemicals; and Living Essentials. In addition to these Business Groups, MC has also recently established its Business Service Group.

(3) Representative:                 Ken Kobayashi, President and CEO

(4) Established:                      July 1, 1954

(5) Number of employees:      65,975 (consolidated, as of March 31, 2013)