News Industry update
Soul of Japan secures $211 million for Asia’s largest RAS salmon farm

Soul of Japan K.K. (SOJ), a Japanese aquaculture company, has announced that it has secured a long-term debt facility worth JPY 33 billion (US$ 211 million) to develop a recirculating aquaculture system (RAS) facility. 

According to SOJ, the facility will be designed to be Asia’s largest land-based salmon farm. It will be housed in a total of 70,000m² of building space, spanning over a 137,000m² plot and will produce 10,000 tonnes of Atlantic Salmon annually. It will double as a pet nutrition facility and is located in Tsu City which is at an optimal distance from Japan’s most populous cities, Tokyo, Nagoya, and Osaka. 

This funding is provided by Sumitomo Mitsui Banking Corporation (SMBC) for the GK Mie RAS Atlantic Salmon Project.

“This debt financing allows us to accelerate our growth and contribute to Japan’s food security while minimizing our environmental footprint. We are committed to delivering high-quality, locally produced salmon to consumers,” said Erol Emed, CEO of SOJ. 

SOJ is partnering with Pure Salmon Technology to implement advanced RAS technology, and high-quality salmon production. The transaction is supported by 8F Asset Management, an asset manager of private equity funds that own the Pure Salmon Group. 

“We are excited to work with SMBC, the banking group and the management teams of SOJ and Pure Salmon to facilitate this transaction that recognizes the importance of sustainable aquaculture and its positive impact on Japan’s economy and the environment,” said Karim Ghannam, chief investment officer at 8F Asset Management.