A bluefin tuna fetched a record 510.3 million yen ($3.2 million; £2.4 million) at the first auction of the year at Tokyo's Toyosu fish market on Monday. The winning bid was placed by Kiyomura Corp, the company behind the Sushi Zanmai chain.

The 243kg tuna commanded an unprecedented price, surpassing previous records set by Kiyomura Corp. itself. In 2019, the company paid 333.6 million yen for a bluefin, and earlier, in 2013, it secured a tuna for 155 million yen, both historic prices at the time.

This year's high price reflects the enduring demand for premium bluefin tuna in the Japanese market, particularly at the start of the year when auctions are seen as a symbol of good fortune. The high price paid by Kiyomura Corp. is likely to have a ripple effect, potentially influencing prices throughout the supply chain and impacting consumer costs at sushi restaurants.

Kiyomura Corp., led by Kiyoshi Kimura, also known as the "Tuna King," has a long history of high-profile bids at the annual new year's auction. The company operates the Sushi Zanmai chain, a popular sushi restaurant with locations across Japan and internationally. Kimura's strategy of bidding aggressively for top-quality tuna has become a marketing tool for the company, enhancing its brand image and attracting customers.

While Kimura expressed surprise at the price, stating he "thought we would be able to buy a little cheaper," the purchase is consistent with the company's established practice. The record-breaking price suggests that competition for premium tuna remains fierce, and that Kiyomura Corp. is willing to invest heavily to secure the best product and maintain its market position. The long-term impact on the company's profitability will depend on its ability to leverage this purchase to attract customers and manage costs effectively.