Sushi, Bans, And Business: Japan's Radioactive Water Release Sparks Concerns For US Seafood Traders
Portfolio Pulse from Piero Cingari
Japan's decision to release treated radioactive water from the Fukushima nuclear power plant has sparked concerns in the global seafood market, leading to increased sushi prices and import bans from China and Hong Kong. The US, which imported 11,994 tons of fish fillets and fish meat from Japan in 2022, could be impacted. Several US companies import fish from Japan, including Maruha Nichiro America, American Seafoods Group, Pacific Seafood, United States Tuna Company, and Yama Seafood. Kura Sushi USA, Inc. (NASDAQ:KURA), a sushi restaurant chain, sources its fish from domestic suppliers and has seen its shares surge by more than 1,600% since March 2020.
August 25, 2023 | 1:16 pm
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NEUTRAL IMPACT
Kura Sushi USA, Inc. does not directly import fish from Japan, sourcing its fish from domestic suppliers. However, the overall impact on the seafood market could indirectly affect the company.
While Kura Sushi USA, Inc. does not directly import fish from Japan, the overall impact on the seafood market, including potential price increases and supply chain disruptions, could indirectly affect the company.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
NVIDIA Corp. is mentioned in the context of its stock growth, which has been outpaced by Kura Sushi USA, Inc. The news does not directly impact NVIDIA.
NVIDIA Corp. is mentioned in the context of its stock growth, which has been outpaced by Kura Sushi USA, Inc. The news does not directly impact NVIDIA.
CONFIDENCE 100
IMPORTANCE 25
RELEVANCE 25