Maruha Nichiro to own Seafood Connection outright

Core Insights - Maruha Nichiro has acquired the remaining shares of Seafood Connection, increasing its ownership from 81.96% to 100% [1][2] - The acquisition aims to strengthen the management structure and accelerate profit expansion for the group [2] - Seafood Connection reported net sales of Y130.97 billion ($842.7 million) in 2024, a 3.9% increase from the previous year, with operating income rising 17.7% to Y6.07 billion [2] Company Performance - Maruha Nichiro's financial year ending in March showed a 4.7% increase in net sales to Y1.08 trillion, with operating income up 14.5% to Y30.38 billion [3] - Profit attributable to shareholders rose by 11.6% to Y23.26 billion [3] Strategic Moves - Seafood Connection, headquartered in Urk, Netherlands, operates in ten countries and recently acquired a 70% stake in Van der Lee Seafish [3] - Maruha Nichiro plans to change its trade name to Umios Corp to pursue sustainable growth and transform into a "solution company" [4]