Photo: Engelsviken Canning Denmark A/S/FIS

Japanese Seafood Giant Kyokuyo Strengthens Grip on European Market with Nordic Expansion

JAPAN
Monday, September 08, 2025, 07:30 (GMT + 9)

Kyokuyo Acquires a Majority Stake in Two Established Norwegian and Danish Seafood Companies to Bolster its Sales Network

TOKYO—In a strategic move to accelerate its global expansion, Japanese seafood powerhouse Kyokuyo Co., Ltd. announced on September 2, 2025, that it has reached a basic agreement to acquire a majority stake in the Engelsviken Group. The acquisition, conducted through its subsidiary Kyokuyo Europe B.V., will see the Japanese firm take a 90% stake in Engelsviken Canning Denmark A/S (ECD Co.), making the company a consolidated subsidiary.

The deal also includes the acquisition of shares in the Norwegian sister company, Engelsviken Norway A/S (EN Co.). The primary goal of the acquisition is to strengthen Kyokuyo's seafood sales operations in the Nordic region. The Engelsviken brand is well-known for its shrimp products across Norway, Sweden, and Denmark, and has a long history dating back to its founding in 1867 in a Norwegian port town.

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Synergy and Strategic Growth

The acquisition is part of Kyokuyo's ongoing strategy to expand its overseas footprint. The company has been actively bolstering its European presence, having previously acquired Northseafood Holland and a majority stake in Turkish seafood processor Kocaman Su Ürünleri İhracat ve İthalat Ticaret in 2024.

Kyokuyo plans to leverage the sales networks of ECD and EN to increase sales of processed salmon and trout products, as well as fried seafood, which are produced by its other subsidiaries in the Netherlands and Turkey. This move is expected to enhance synergy within its European operations and accelerate the company’s overall global expansion.

The announcement comes as the Norwegian seafood market continues its strong relationship with Japan. Norway is a dominant supplier of salmon and mackerel to the Japanese market, a relationship that began decades ago and has grown significantly. This existing trade relationship provides a strong foundation for Kyokuyo's new foothold in the Nordic region.

While financial details of the acquisition were not disclosed, the move reflects Kyokuyo's commitment to its overseas growth strategy, despite a slight decrease in operating profit for the first quarter of the fiscal year ending March 31, 2026. The company's revenue, however, increased year-over-year during that period, reaching JPY 76 billion (USD 513 million, EUR 440 million).

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