Regarding the allocation of the proceeds from blue bonds and its environmental and social improvement effects
Use of Proceeds
The proceeds will be used for expenditures related to the land-based salmon aquaculture project that has been established as an eligible project under the Blue Finance Framework.
Allocation Reporting
- Amount procured
- Blue Bond issued in November 2022
5 Billion yen
- Allocation of the proceeds
- Land-based salmon aquaculture project *
1,715 Million yen
- Balance of unallocated proceeds
- 3,285 Million yen
- Method of investment for unallocated proceeds
- Cash
- Scheduled time of appropriation for unallocated proceeds
- Up to the end of 2025
- *The proceeds will be allocated to this project through an investment in ATLAND Corporation, which operates a land-based salmon aquaculture project.
Impact Reporting
Impact Reporting for FY2024 (April 2024 - March 2025)
In October 2022, Maruha Nichiro Corporation and Mitsubishi Corporation established a joint venture company, ATLAND Corporation (ATLAND), which will operate the land-based production of salmon in Nyuzen town of Toyama prefecture. ATLAND will construct a land-based aquaculture facility with a capacity of 2,500 tons (live weight equivalent) in Nyuzen town, with the aims of starting operations in 2025 and completing the first delivery for 2027. Part of the 1,715 million yen was appropriated as an investment in ATLAND in October 2023 has already been spent on design costs for the land-based aquaculture facility. We will continue to appropriate in the future for the construction materials costs, etc. for the land-based aquaculture facility, aiming for the first delivery as planned. We will continue to provide updates on this project through our impact reporting.
Impact Reporting for FY2023 (April 2023 - March 2024)
In October 2022, Maruha Nichiro Corporation and Mitsubishi Corporation established a joint venture company, ATLAND Corporation (ATLAND), which will operate the land-based production of salmon in Nyuzen town of Toyama prefecture. ATLAND will construct a land-based aquaculture facility with a capacity of 2,500 tons (live weight equivalent) in Nyuzen town, with the aims of starting operations in 2025 and completing the first delivery in 2027. The 1,715 million yen that was appropriated as an investment in ATLAND has been spent or is planned to be spent in the future for ground surveys, design costs, construction materials costs, etc. for the land-based aquaculture facility. We will continue to provide updates on this project through our impact reporting.
