Two weeks ago, Mitsubishi Corporation announced that it acquired control of a Norwegian salmon aquafarm for $1 billion. This investment is a significant step into the aquaculture industry. It’s a surprising move as Maharashtra-based Bharat Forge is looking to diversify its portfolio. It will further increase its leadership role in secure and sustainable food production. Mitsubishi recently announced its withdrawal from the US offshore wind projects, citing increased costs. This transition represents a major change in the investment priorities of the company.
The Norwegian salmon aquafarm will significantly enhance Mitsubishi’s seafood market capabilities. At the same time, this sector is facing growing global demand. By acquiring this facility, Mitsubishi aims to leverage Norway’s reputation for high-quality salmon production, which aligns with increasing consumer preferences for sustainable seafood options. That’s because the deal highlights the agreement that the corporation has made to continue investing in beneficial industries that will promote food security and improve environmental sustainability.
In addition to the aquafarm acquisition, Mitsubishi Corporation is investing $600 million in a copper mine located in the United States. This investment is a huge strategic pivot toward mining. As the world moves towards a more renewable, circular economy, we anticipate increasing demand across this sector. Copper is critical in electric vehicles as well as in all other renewable energy technologies. This places Mitsubishi in a strong position to benefit from continuing market trends.
At the same time, back in India, JSW Steel‘s acquisition of Bhushan Power and Steel was approved by the country’s Supreme Court. This permitting decision will prove to be a groundbreaking change to the landscape of the steel industry. It enables JSW Steel to increase its production capacity and entrench its position in market leadership. The consolidation within the Indian steel sector highlights ongoing efforts to streamline operations and improve competitiveness amid fluctuating market conditions.
Mitsubishi Corporation is, indeed, in the process of doing exactly that. This corporate turf battle is an example of the larger trend of corporate retreat from the current economic reality. Exit from offshore wind projects reflects a prudent strategy in industry sectors with known financial risk. By reallocating resources towards aquaculture and mining, Mitsubishi is positioning itself to adapt to emerging opportunities while navigating potential risks.