Nelson-based Sealord's is 50% owned by Nissui and 50% owned by Aotearoa Fisheries Ltd. (AFL). AFL was established in 2004 to manage the assets as part of the settlement to Maori of commercial fishing claims under the Treaty of Waitangi. In January 2001 Nissui's bid to become a 50% shareholder in the Sealord operating company was accepted and approved by the New Zealand government. Nissui personnel sit on the Sealord Board and Sealord profits go to Nissui.