Several institutional investors and regional banks have gathered funds of at least Y23 billion ($280 million) which they intend to use to boost Japanese food delicacies exports.
“Food is the one area that has a big investment potential,” said Daisuke More, president of Dogan Investment in Fukuoka City and a former banker at Citigroup. He is managing four different investment funds with about Y10 billion at hand for new projects, including a tuna farming business on the southern-Japan Kyushu island, unaffected by the radiation scare which spread across the country during the last year.
“Locally farmed tuna, pork and beef on Kyushu island should get a stronger connection with the big market outside of Japan,” More said.
He hopes to sell about 2,000 farmed tuna this year only, and to double sales next year. One of the funds controlled by Mori said the expected return on investment this year is 7 percent.
About 25 regional banks were attracted by the Japanese farmers’ enthusiasm of developing new export projects, including Japan’s largest brokerage company, Nomura Holdings.