Mitsubishi Corporation and Maruha Nichiro, two of the world's largest seafood firms, are joining forces to start a land-based salmon business in Nyuzen, Toyama, on the west coast of Japan. The project is anticipated to cost around JPY 11 billion (€77.3 million/$80.7 million).

The business is expected to officially open by this October, Maruha Nichiro said in a release to shareholders Thursday. The farm, which has been in the planning stage for more than a year, will have an initial capacity of 2,500 metric tons.