A sample fish from Proximar Seafood's facility in Japan.

Getting bigger in Japan

Proximar has trebled biomass in three months and has secured first order


Japan land-based salmon farmer Proximar Seafood had a standing biomass of 360 tonnes at the end of the second quarter this year, more than three times the 112 tonnes it had at the end of Q1.

“We are very pleased to see the positive development in our biomass continue through the second quarter of 2024. The water quality remains good, which is again reflected in our growth curves,” said Proximar chief executive Joachim Nielsen in a stock exchange announcement.

Nielsen pointed out that the company still sees low natural mortality.

Joachim Nielsen: "We are very pleased to achieve a sale price in line with our expectations."

“Our first batch is over 3.25 kg on average, and we are still on track for the first harvest in September. We continue to do sampling for quality and taste, and both internal and external feedback is very positive,” he said.

15 batches

The company currently has 15 batches and around 1.6 million individuals in production. The long-term harvest target for Proximar is 5,300 tonnes (HOG) per year in phase 1.

Furthermore, Proximar said that its first sales agreement has been concluded, which ensures a fixed price per kilogram for part of the harvested volume for 2024. The price achievement is in line with the company’s expectations and benchmark, and also reflects a premium price compared to the cost of imported salmon from Norway.

The sales agreement is expected to cover approximately one third of the expected harvest volume for 2024.

“We are very pleased to achieve a sale price in line with our expectations for a significant portion of our harvest volume for 2024. This is a major milestone for us and demonstrates our business model and significant cost advantage.”

Good feedback

Nielsen emphasised that the customer is a high-end chain with a focus on seafood.

“This also represents a great value for us in terms of branding and marketing. We are very satisfied with the effort from (distributor) Marubeni in the sales work, which is clearly demonstrated through the concluded agreement,” he said.

Proximar said that a test fish of approximately 4.8 kg that was sent to the customer for taste testing and quality control received very positive feedback.

Marubeni is experiencing strong interest in the Proximar salmon, and several other discussions are ongoing.