Latest funding round brings total amount raised to approximately ¥5.7bn
Japan’s Nippon Agriculture has raised approximately ¥1.3bn in a Series C extension round through a third-party allotment of new shares to investors including Suzuyo & Co, Mitsubishi UFJ Capital, and DG Resona Ventures.
With this funding, the total amount raised through Series C equity financing has reached approximately ¥3.85bn, and the cumulative amount raised through equity financing totals approximately ¥5.7bn.
The funds will be used for working capital and capital investment to accelerate market expansion for its Aomori apples as well as further growth for its agricultural entry support business, Nichinou Pack.
Since its establishment in 2016, the company has been engaged in exporting Japanese agricultural products, primarily to Asia, including Taiwan and Hong Kong.
The company employs a high-density planting method which allows for an average yield of approximately 6 tonnes per 0.1ha – three times the yield of conventional methods which produce about 2 tonnes.
In addition to its own production, the company also assists companies entering the agricultural sector through Nichinou Pack. It proposes agricultural models that enhance profitability, providing comprehensive support from launch to operations and sales support for harvested agricultural products.
Aomori apple exports for the 2024 Lunar New Year exceeded 2,000 tonnes for the first time, reaching approximately 2,761 tonnes, with export value also hitting a record high of approximately ¥1.58 billion. The number of directly contracted apple growers in Aomori Prefecture expanded to 700, approximately 2.3 times the previous year, and the volume received from these growers increased approximately 2.2 times.
