President discusses expanding investment ventures with heads of Yamaki Co. Ltd

23 October 2019, Ref: 2019-837

President Ibrahim Mohamed Solih has met Yoshihiro Kido, the President of Yamaki Co. Ltd, and discussed investment avenues in the fisheries sector. The meeting was held on the sidelines of his official visit to Japan to attend the enthronement of His Majesty Emperor Naruhito. 

Katsuro Kido, the Director and Senior Executive Corporate Officer of Yamaki Co. Ltd, accompanied Yoshihiro at the meeting. The company manufactures and sells seasonings, dry seafood, and processed seafood. Yours Maldivian Addu Katsuobushi Pvt Ltd (YMAK) is a subsidiary of Yamaki Co. Ltd—which is an important investment partner and presently Japan’s most significant Foreign Direct Investment in the Maldives. 

The factory in Hithadhoo Ward of Addu City annually produces about 200 tonnes of skipjack tuna worth ‘Katsuobushi’—dried, fermented, and smoked skipjack tuna—which amounts to approximately US$200 million in revenue, adds value to the fisheries sector and contributes to the employment sector. 

At the meeting, President Solih and officials of the company discussed ways to expand Yamaki’s investment in the Maldives further. President Solih also thanked Yoshihiro for the company’s long-term commitment to producing Katsuobushi from skipjack tuna acquired in the Maldives. 

Source: The President's Office