Bankruptcies and business closures in Japan’s aquaculture industry have reached their fastest pace in the past decade. In fiscal 2024, there were seven bankruptcies and 20 business closures, with aquaculture accounting for about 60% of companies whose performance deteriorated. In addition to a decline in profits caused by the sharp drop in restaurant demand during the COVID-19 pandemic, rising feed prices due to the weak yen and higher mortality rates among juvenile fish caused by rising sea temperatures have significantly impacted business performance, leading to a series of struggling operators.
The proportion of companies reporting decreased profits reached 29.5%, the highest level since the pandemic, while the share of loss-making companies rose to 34.1%, exceeding 30% for the first time in three years. As a result, the combined rate of declining and loss-making companies reached 63.6%, up 14 percentage points from the previous year, highlighting the severe deterioration of conditions facing aquaculture businesses.
In addition to soaring feed costs, red tide outbreaks, and poor growth caused by rapid rises in sea temperatures, continued fish price stagnation and difficulties in raising prices amid overall inflation have further strained the industry. Even in land-based aquaculture, which has recently drawn attention, rising electricity costs are putting pressure on management, leading to more cases of reduced profits and deficits.
Although challenges remain—such as ensuring a stable supply of feed and adapting to changing natural environments—expectations for aquaculture continue to grow as a key to realizing a sustainable fisheries industry.
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