Japanese trading house Mitsui & Co. has made official its USD 360 million (EUR 329 million) investment in Industrial Pesquera Santa Priscila (IPSP), a world leader in shrimp farming.
In line with a formal declaration made earlier today, the Japanese trading firm, which focuses on consumer goods and energy, clarified that its investment will be executed via a holding company possessed by the creators of IPSP. The pertinent agreements associated with this transaction concluded today. Consequently, IPSP will assume the status of a subsidiary to Mitsui, utilizing the equity method.
Ecuador is recognized as the world epicenter of the shrimp farming and export industry. Based on this idea, Mitsui and the founders of IPSP have agreed to collaborate closely to improve productivity and efficiency in this sector, improve overall operations, and more effectively meet the demands of their customers. Therefore, both partners commit to upholding a robust focus on social responsibility and environmental protection, all the while ensuring the elevated quality of their products.
The Japanese company clarified that it anticipates executing the venture during the fiscal year ending March 2024, contingent upon meeting suspensive conditions, which include securing the required approvals.
Mitsui has been focusing on the potential of the shrimp industry, which is becoming increasingly industrialized and concentrated. Already in 2019, the Japanese company invested in Minh Phu Seafood, a leading processing company based in Vietnam. Since that date, it has been strengthening the shrimp sales and processing business. Thus, through this investment in IPSP, Mitsui aims to become a leading global player in the shrimp industry by extending the value chain to upstream stages such as breeding, feeding, and farming.
Mitsui has identified Creating Wellness Ecosystems as one of its Key Strategic Initiatives in its 2026 Medium-Term Management Plan. In this way, Mitsui will work to add value to the business group in food and nutrition and aims to support the realization of richer and brighter lives for people by improving health and wellness through food.
Since 1976, the Ecuadorian aquaculture industry has continuously advanced by steadfastly committing to environmental responsibility. Guided by the visionary leadership of Santiago Salem, IPSP embarks on a journey marked by unwavering dedication across every facet.
Built on a foundation of "Challenge and Innovation," Mitsui harnesses its unique role as a global investment and trading company. They collaborating with a diverse network of partners worldwide to meet the distinct needs of its customers. For that reason, Mitsui pursues ambitious goals while delivering practical solutions and consistent results. With guidance from the Medium-term Management Plan 2026, Mitsui dedicates itself to constructing a resilient and sustainable business platform.