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The process will examine options to refinance the business, extend debt maturities and attract a long-term investor in Japan.

Despite the adjustment to the harvest plan, sizes continue to trend upward and have increased since the previous quarter.

The company says it is adjusting production at its Mount Fuji land-based facility to improve harvest weights and price realisation later in the year.

The aquaculture company, which operates a land-based salmon farm in Japan, said the waiver relates to Q1 2026 sales volumes affected by its revised first-quarter harvest plan.

To further strengthen its operational capacity, Japan's first large-scale salmon farm has also announced this quarter the appointment of a new Chief Operating Officer.

The Q4 2025 report of the land-based salmon producer operating in Japan showed continued operational improvement with stable biology.