Japan regional fund aids fishing industry
Challenge Kyushu SMEs Ganbare Fund, a JPY1 billion ($11 million) regional fund operated by Dogan Investments Inc., a Kyushu-based investment boutique, has made two investments in marine food and products companies in the southerly region, Japan's third largest island.
Burimy Co. and Uokichi Gyorui Co, both operating fish firms and distributing fresh fish such as tuna and amberjack, received JPY6 million ($0.06 million) and JPY42 million ($0.46 million) respectively. Despite increasing demand for popular fishes offshore and onshore, the level of fish harvesting in Japan has shrunk, leading to requirements to adopt new technologies and develop fish farms.
The Organization for Small & Medium Enterprises and Regional Innovation, the Nishi-Nippon City Bank (NNCB), Kyudenko Co. NCB Research & Consulting Co. (a subsidiary of NNCB), Nishi Nippon Challenge Investments LLP 2 and Dogan itself have committed capital to the fund to support local companies. These deals are the eleventh and twelfth investments for Challenge Kyushu.
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