| Decision | Consent granted Section 57D(a) Fisheries Act 1996 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 3 December 2024 |
| Pathway | Fishing quota |
| Investment | Acquisition of (i) Annual Catch Entitlement (ACE) of up to 21,000mt of certain fish species (ii) Individual Transferrable Quota (Quota) of up to 1,000mt of various species |
| Consideration | Unknown (no purchase agreements yet) |
| Applicant | Maruha (N.Z.) Corporation Limited Japan 100% |
| Vendors | Unknown Quota and ACE holders |
| Background | The Applicant is a New Zealand fisheries company owned 100% by Maruha Nichiro Corporation, a publicly listed Japanese owned company which heads one of the world’s largest seafood group of companies. The Applicant has been operating in the New Zealand fishing industry since the 1950s and currently operates two deep sea fishing vessels. Consent has been granted allowing the Applicant acquire ACE and Quota over a 10-year period. This will help ensure that the Applicant can continue to operate both vessels in New Zealand and is likely to increase operational efficiencies by providing the Applicant greater flexibility for both fishing and marketing the catch from its two vessels. Acquisition of the ACE and Quota is also likely to result in the continuation of existing jobs, export receipts and expenditure within New Zealand. Consent was granted as the Applicant has met the investor test criterion, the interest in quota was capable of being registered in the Quota Register and the investment is likely to benefit New Zealand. |
| More information | Alan Lear Barrister PO Box 3705 Auckland |
This assessment report was published as part of an Official Information Act request:
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