Japanese seafood giant Nissui Group appoints Teru Tanaka as its president, CEO
Teru Tanaka to become president and CEO in May as the company pushes ahead with structural reforms and growth plans.
JAPAN – Japanese seafood conglomerate Nissui Group is preparing for a leadership transition, with Teru Tanaka set to take over as president and CEO in May.
Tanaka, who joined the company in 1988, currently serves as director and executive officer of Nissui’s Marine Products division.
He will replace outgoing president Shingo Hamada, who will assume the role of chairman of the board.
In an official statement, Nissui announced that the leadership reshuffle is part of a broader effort to strengthen its management framework and rejuvenate the organisation.
The company said the changes are aimed at ensuring faster execution of its upcoming mid-term business strategy, which begins with the next financial year.
Nissui also stated that it plans to improve internal collaboration across its divisions and subsidiaries in a bid to support long-term growth and enhance corporate value.
Financially, the group saw its net sales rise by 6.1% to US$4.4 billion (¥663.34 billion) for the nine-month period ending 31 December 2024.
However, its operating profit declined 5.7% to US$164.5 million (¥24.8 billion), with reduced earnings from the Marine Products segment contributing to the drop.
Profit attributable to shareholders was also down by 3.5%, standing at US$129.9 million (¥19.58 billion) during the same period.
Looking ahead, Nissui expects net sales to grow by 5.8% for the full fiscal year, with operating profit projected to increase by 9.6%.
The company also anticipates a slight rise of 0.6% in profit attributable to owners of the parent.
Its full-year financial results are scheduled for release on 14 May.
Ongoing expansion in Europe and the US
Nissui has been ramping up its international operations as part of its growth strategy.
In October 2024, the group acquired a seafood processing plant in Saint-Hernin, Brittany, through its French subsidiary Miti to manufacture tapas-style seafood products.
This move is intended to cater to growing demand for ready-to-eat small-dish items in the European market.
Additionally, in February 2024, the company announced plans to expand production at its subsidiaries in the United States and the European Union.
A total of US$113,122 (¥17 million) will be invested into Gorton’s Co. in Massachusetts and Cité Marine in Kervignac, France.
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