SADO, Niigata Pref. — Kyuichi Sakano, head of Niigata's fixed shore net fishing association, sighed in dismay one day last December as his fishing boats came back yet again without any yellowtail.

"The business is very severe," said Sakano, who owns two stationary fishing nets off Sado Island.

In addition to the salaries of about 80 employees who work for him, Sakano needs to satisfy some 800 local investors. But because of poor catches, his association was unable to pay dividends in the business year that ended last July.