Sojitz Corp (XEB.DU)

Japan's Sojitz buys US sushi business in seafood expansion drive

Japanese trading house Sojitz said on Tuesday it had bought the takeout sushi businesses of Sushi Avenue Inc in the United States for an undisclosed sum, as part of a drive to expand its seafood operations. Sojitz is aiming to boost annual net profit from seafood operations to 4 billion yen ($26 million) in the year to March 2027 from 1.2 billion yen in the year ended March 2024. "We are taking on the challenge of becoming the world's No.1 distinctive marine products group, with strength in tuna and sushi products," finance chief Makoto Shibuya told reporters.