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Global seafood giant Maruha Nichiro plans to increase its sales by JPY47 billion ($610 million / €448 million) by 2013.

That would mean a boost from its 2010 sales of JPY823 billion ($10.7 billion / €7.8 billion) to JPY870 ($11.3 billion / €8.3 billion).

The Japan-based company will look overseas as it expands, Maruha Capital Investment President Hiroshi Okazaki told IntraFish.

 “In the Japanese market, it is saturated because the population has already started declining,” Okazaki said. “That is why a key company like us needed to look out to the outside of the country to grow the company.”

Expansions