Aquaculture North America

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Good governance pays off

Japan’s biggest trading house Mitsubishi Corp expects to post its first record profit in 10 years due mainly to the rebound in prices for resources and also to its active management of its subsidiaries like Cermaq.Company president Takehiko Kakiuchi, who assumed the role in April 2016, believes in active involvement in Mitsubishi’s subsidiaries that are expected to help raise Mitsubishi's corporate value.For instance, after acquiring the Norwegian salmon farmer for $1.4 billion in 2014, Mitsubishi sent a chairman and a project development representative to manage the company, reported Nikkei Asian Review. Since 2016, it has had another six officers there, including a sales executive.Cermaq logged a deficit of $65.16 million (7.2 billion yen) in the fiscal year through March 2016, but it more than recovered the following fiscal year with a $136.66 million (15.1 billion yen) surplus the following fiscal year, said the paper. Th


February 19, 2018
By Liza Mayer
Cermaq staff shows off farmed salmon. Mitsubishi Corp says active management of its subsidiaries like Cermaq is paying off