Notice regarding criminal charges and civil lawsuit of 2 fishing vessels

July 2, 2021

The information had been released by the Government of the Federated State of Micronesia (hereunder ‘FSM’) on June 23, 2021, which reported that 2 fishing vessels operated by our group company, ‘Taiyo Micronesia Corporation (hereunder ‘TMC’)’, a joint venture company between FSM and Maruha Nichiro Corporation’s subsidiary, Taiyo A&F Corporation (hereunder, ‘TAFCO’). TMC formerly owned 5 far seas purse seine fishing vessels (as of today, 4 vessels). 2 of those, Taiyo Chuuk and Taiyo Tofol, were criminally charged and civilly sued in the FSM supreme court.

In response to this, the Maruha Nichiro Corporation and the TAFCO have conducted the internal fact-finding investigation and will totally cooperate with investigations of local authorities through our legal representatives.

Whatever the result comes out, the Maruha Nichiro Corporation highlights this incident as a revelation our ambition and commitment to protect marine resources. We seriously continue to help to sustain marine resources and totally put ZERO tolerance on any illegal activities, or actions which undermine sustainable seafood management and ocean health. And, for endorsing this intent as the Company’s consensus, hereby, we attach our President’s Message below.

It is of extreme concern to me, as President of Maruha Nichiro, that a joint venture with one of our subsidiaries has allegedly broken rules and regulations designed to protect the marine environment and ensure sustainable seafood production. While these matters are before the Courts, I am unable discuss the specifics.
But I, and Maruha Nichiro Corporation, have deep respect for the Regulations of the Government of Micronesia, and value their collaborative approach to ensure that the marine resources are properly protected and managed.
Today, I have instructed our internal management team to conduct an immediate in-depth review of all aspects of these cases, and to provide recommendations.
I have also sought reassurance from the Board of our subsidiary Taiyo A&F and the joint venture company Taiyo Micronesia Corporation, that they will fully and openly cooperate with the investigations and relevant authorities to expedite proceedings, and ensure a positive outcome as quickly as possible.
I take these allegations extremely seriously and, irrespective of the legal action outcomes, will be using these incidents as examples inside Maruha Nichiro to drive improved practices and approaches for our operations both locally, nationally, and internationally. It is critical to the future of our oceans and our business that everyone, from our crew members and captains through to the heads of our companies, acknowledge and understand that we must work together, and within the laws, to ensure sustainable seafood production.

Masaru Ikemi
President & CEO, Maruha Nichiro Corporation

Contact for media inquiries:
Corporate Communication Department,
Maruha Nichiro Corporation