Kanesan Suisan came into existence in October 1954. The Company, as one of the leading tuna processers, focused its business on seafood processing and distribution, dealing simultaneously with fresh fish other than tuna and sushi toppings. It reported annual sales of \10.286 billion for FY 2006. It held well established reputations for its high quality product management as well as its self-invented tuna freezing technique.
Kanesan Suisan's business client Explorer Corporation went under in December 2007, inflicting unrecoverable loans on Kanesan Suisan. In addition, a joint venture abroad run by the two companies defaulted on a loan of about \315 million.
July 22, 2010 Kyokuyo announced that operations of Kanesan Suisan, which are intended for civil rehabilitation by way of business transfer, were handed over to Kyokuyo on July 21, and that the company "Kyokuyo Fresh Co." was newly launched. Kanesan Suisan is a seafood company based in Edogawa City, Tokyo, under management of President Keiji Ban, with capital worth \255 million.
The business transfer entailed the following: 1) seafood processing and distribution operations run by Kanesan Suisan; 2) land and facilities ("real estate' thereafter) essential for conducting business; and 3) assets that include machinery and equipment installed on the real estate. The business transfer in value terms is worth \800 million.