The world’s appetite for Japanese tuna, Wagyu beef and other delicacies prized in restaurants as far away as New York’s Morimoto is attracting funds chasing 7 percent returns from investments in farms and fish ponds.
Institutional investors and regional banks have poured at least 23 billion yen ($280 million) into about a dozen funds aimed at boosting exports of Japanese foods. Four are managed by Daisuke Mori, a former Citigroup Inc. (C) banker who has pooled 10 billion yen to invest in projects including tuna farming, most of them on the island of Kyushu in Japan’s south, far from the radiation contamination in the northern Fukushima area.
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