Mitsubishi : New Seafood Processor to Add Economic Dynamism in Northeastern Japan

Hirono-ya Co., Ltd., a local seafood business located in Iwate Prefecture in northeastern Japan, is pleased to announce the opening of its processing plant, Kita Sanriku Factory. Located in the town of Hirono, the opening of the factory was made possibly though loan funds provided by Kita-Nippon Bank, a local financial Institution, and additional financing from the Mitsubishi Corporation Disaster Relief Foundation (MCDRF), for a total of 25 million yen in financial support. The funds will mainly be used to install facilities for cold-storage and low temperature processing. A ceremony to commemorate the opening of the factory will be held in Hirono on July 12

Hironoya will focus on developing a market for seafood harvested along the northern sections of the Sanriku Coast and processed at the factory under the Kita Sanriku brand. Newly installed facilities at the factory are capable of processing seafood at temperatures below 5º Celsius, which allows Hironoya to deliver fresh marine products to the market. This is particularly important for its flagship product, uni sashimi or sea urchins, a delicacy which is typically served raw and requires adequate refrigeration.

Besides sea urchins, the Kita Sanriku brand includes Wakame seaweed as well as hoya (or sea pineapple), clams, fresh fish and other marine products. Hironoya is aiming to expand its base to overseas markets in due course, especially Southeast Asia and North America where demand for seafood is on the rise. Hironoya will also work to develop new uni-based products and work closely with partners in the food sector to distribute and build its Kita Sanriku brand of marine products.

Hironoya plans to employ some 20 full-time and 30 part-time staff by 2020. The initiative, which also has plans to provide training for persons who catch or farm the sea urchins sold under the Kita Sanriku brand, is therefore expected to contribute to employment generation and economic growth in the region.

Fisheries constitute the main source of livelihood in the Kita Sanriku area, comprised mainly Kuji City and the Kunohe District along Tohoku's Sanriku coast, and the area's recovery depends largely on initiatives that can spur dynamism in the sector. Kita-Nippon Bank and MCDRF therefore expect that providing support for Hironoya will contribute to reviving the fishing industry and consequently to the creation of employment and overall economic revitalization in the area, and reaffirm their commitment to continue supporting similar initiatives provided they stand to contribute to overall recovery in the region.