Mount Fuji salmon farm company cuts operating loss

PROXIMAR Seafood has announced an operating loss of NOK 9.8m (£860,000) for 2021, reduced from NOK 11.1m (£940,000) the previous year.

The company, which is moving closer to the opening of its high-tech land-based fish farm at the foot of Mount Fuji in Japan, is still in a project development phase so has no revenues to report. However, the project is well on its way to completion and the company expects to harvest the first salmon by 2024.

The net loss for second half of 2021 was NOK 5.5m (£480,000), compared to a loss of NOK 7.9 (£690,000) in the second half of 2020.

CEO Joachim Nielsen said: “We have kicked off the work on our first land-based recirculation facility outside Tokyo – on time and on budget.

“This brings us one big step closer to serving fresh, Atlantic salmon to Japanese households and restaurants, locally produced with a low carbon footprint.”