Tokyo Fish Market Sells Tuna for $1.3 Million in Annual Auction

The Onodera Group, a Michelin-starred sushi restaurant chain, paid 207 million yen ($1.3 million) for a 608-pound bluefin tuna at Tokyo‘s annual New Year fish auction on Sunday. This marks the second-highest price ever recorded at the prestigious event, which has been held since 1999.

The auction, held at Tokyo’s Toyosu fish market, is a highly anticipated event that draws top sushi restaurateurs from across Japan. The Onodera Group has now secured the top bid for five consecutive years, leveraging the purchase for both marketing and symbolic value. “The first tuna is something meant to bring in good fortune,” said Shinji Nagao, an Onodera official. “Our wish is that people will eat this and have a wonderful year.”

Last year, the group paid 114 million yen for the top tuna, but this year’s bid fell short of the record 333.6 million yen set in 2019 by Kiyoshi Kimura, owner of the Sushi Zanmai chain. Kimura, known as the “Tuna King,” made his record-breaking bid shortly after the fish market relocated from Tsukiji to Toyosu.

The COVID-19 pandemic significantly impacted the auction in recent years, with bids plummeting as restaurants faced restrictions and diners stayed home. However, the market has rebounded, reflecting renewed demand for high-quality seafood.

Pacific bluefin tuna, the species sold at the auction, are classified as vulnerable by the International Union for Conservation of Nature (IUCN). Despite this, recent assessments by the National Oceanic and Atmospheric Administration (NOAA) indicate that the population has been increasing, exceeding international conservation targets ahead of schedule.

The auction not only highlights the cultural significance of tuna in Japanese cuisine but also underscores the economic and environmental challenges surrounding the species. As demand for bluefin tuna remains high, conservation efforts continue to play a critical role in ensuring its sustainability.