Thirapong Chansiri, President and CEO at Thai Union.
Thai Union Group PCL.
Mitsubishi Corporation has reached an agreement with Thai Union Group Public Company Limited (TU) to formalize a business alliance and acquire 13.81% of the issued shares of the world’s leading seafood company via a general offer.
In this way, Mitsubishi will increase its stake from 6.19% to 20%, and upon completion of the Public Offer, Thai Union will become an equity-method affiliate. The Japanese Corporation was already the fourth-largest shareholder and was part of Thai Union's board of directors.
Mitsubishi's first investment in the Asian group dates back to 1991, and since then, both companies have developed a wide range of seafood-related businesses, including canned tuna, pet food, and frozen products such as salmon and shrimp.
Regarding this agreement, Thai Union CEO Thiraphong Chansiri said: "Thai Union's strategic alliance with Mitsubishi Corporation is a testament to the strength of our business and our shared vision for the future of the seafood industry. Together, we will accelerate our growth, enhance our competitiveness, and continue to deliver healthy, sustainable products to consumers worldwide. This partnership, built on decades of trust, will benefit all our stakeholders and solidify our position as a global seafood leader."
Additionally, Thai Union Group PCL released its financial results for the second quarter and first half of 2025. In the second quarter, the group's Gross Profit Margin (GPM) reached a historic high of 19.7%, while for the first half, it set a record of 19.3%.
Moreover, the adjusted net profit for the second quarter grew by 13.2% year-on-year, and for the first half of 2025, the adjusted net profit increased by 11.2%. Lastly, in the first half of 2025, the company also completed its fourth share repurchase program, acquiring 8.98% of its paid-up capital.
In May, the Group secured the first-ever Blue Loan for Thailand’s seafood industry, valued at $150 million, from the Asian Development Bank (ADB). The funds will be used to expand the sustainable sourcing of shrimp in the country, supporting its goal of achieving net-zero greenhouse gas emissions by 2050 under its SeaChange® 2030 strategy, launched in 2023.