Japan’s booming fishing industry is expected to produce more than a billion dollars in sales this year, according to a report released Thursday by the country’s largest fishing company.
Sam Fisher Gear, which specializes in the production of gear that can be used in fishing and hunting, is one of Japan’s largest producers of gear for its fishing industry, accounting for 70 percent of total revenue for the sector.
Sam’s CEO, Tatsuya Takahashi, said in a news release that sales of fishing gear in Japan this year are expected to surpass $5 billion.
In total, Japan’s fishing industry has already earned over $1.3 trillion in revenue from fishing gear sales.
Takahashi said the sales of Sam Fisher Gear’s products are set to grow rapidly, even as the country is facing a record-breaking winter.
“In this year’s fishing season, we expect that sales to reach $4 billion, and in 2020, sales to surpass 10 billion yen,” Takahash said.
The company also expects to increase the volume of products it produces in 2017 and 2018.
Tatsuya said the company is also working to increase sales by increasing the quality of its products.
Sam is currently the third largest importer of seafood to Japan after China and South Korea.
The Japanese government plans to ban the export of fish to the United States and to ban imports of seafood from China and Taiwan in the future.