Baker McKenzie advises on Pure Salmon Japan’s landmark salmon farming aquaculture project in Japan

Baker McKenzie advised Pure Salmon Japan — sponsored by 8F Asset Management Pte. Ltd., a global investment group — in connection with the successful structuring, development, construction and financing of the one of Japan’s largest land-based salmon farming facilities in Tsu City, Mie Prefecture.

This approximately JPY 70 billion project uses a TK-GK and Real Estate Syndicate Act structure supported by senior loan and mezzanine finance to cover construction of a unique recirculating aquaculture system (RAS) facility. A substantial number of project vendor agreements — both domestic and cross border — were also involved. The project is expected to improve Japan’s food security and reflects growing investor interest in scalable, environmentally responsible protein production.

Baker McKenzie Tokyo has advised on this project for several years, finally bringing it to a successful finance closing this month. The Baker team was led by Seishi Ikeda, a partner in the Real Estate group, with substantial finance-related support from Pierre Chiasson, a partner in the Finance and Projects group. Real Estate group Associate Ryota Hiyamizu handled overall management of the deal in collaboration with many others.

“This transaction underscores the increasing importance of sustainable food infrastructure and highlights strong international investor interest in Japan’s aquaculture sector,” said Seishi. “We’re pleased to have supported a highly meaningful and unique project that will help make Japan’s food supply chain more resilient and sustainable.”