Japan Allocates 10 Billion Yen to Support Struggling Fisheries Sector Amid Fukushima Water Controversy

Benzinga

The Japanese government has allocated 10 billion yen ($91 million) to support its fisheries industry, which has been affected by China's ban on seafood imports. The funds will be used to find new markets, replace China as an export destination, and increase domestic consumption. The government has previously allocated 80 billion yen ($547 million) for support and to combat damage to the reputation of Japanese products. The Foreign Minister will attend a summit in Indonesia where he may face criticism from China over releasing radioactive wastewater.

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00:00 It's Benzinga and here's what's on the block.

00:02 Japanese government has allocated 10 billion yen to support its fisheries industry, which

00:07 has been affected by China's ban on seafood imports.

00:10 The funds will be used to find new markets, replace China as an export destination, and

00:15 increase domestic consumption.

00:17 The government has previously allocated 80 billion yen for support and to combat damage

00:22 to the reputation of Japanese products.

00:24 The foreign minister will attend a summit in Indonesia, where he may face criticism

00:28 from China over the release of radioactive waste water.

00:31 For all things money, visit Benzinga.com.

00:33 [BLANK_AUDIO]

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