Maruha Nichiro, the world's largest seafood company, acquired Japan-based Toyo Reizo's bluefin tuna farming operations, the company announced on Jan. 9.

This acquisition of Nanki Kushimoto Fisheries will help Maruha Nichiro expands its bluefin tuna business, which has a strong demand in the local Japanese market.

With this transaction, Maruha Nichiro will now hold one-third of the domestic market share.

Nanki Kushimoto Fisheries facility and Maruha Nichiro's existing farm Kushimoto Marine Farm will operate together, due to their close proximity and synergies.