the Cellulose industry in Japan developed in Shikoku, North Honshū, Hokkaidō, Chosen, Manchukuo and Karafuto. In Karafuto was the Shiretoru Cellulose Factory, the most advanced installation dedicated to the cellulose industry in all of East Asia. The first place where European-type paper was manufactured in Japan was in the city of Shikuka. Additionally, to complement this local production, these products were sold in Canada and the United States of America. Fishing The important Okhotsk fisheries had a value of ¥50 million. Other fisheries in Chosen, Karafuto, South Mandate and Formosa came to ¥122,000,000 and ¥358,000,000 from Japan proper, for a total of ¥480,000,000 (1938 figures). Secondary products from fishing had a value of ¥150 million to ¥200 million. (From another source, fishing values were of ¥235,000,000 and ¥275,000,000 from 1919 to 1913, more than the British.) In 1932, Japan invested $550,000,000 in Korea, along with $320,000,000 in 1938. This investment produced a return of 400% in industrial monetary value. In the fishing industry, Japan extracted a value of $20,000,000 annually, comprising 15% of world fishing volumes at the time. Coastal fishing represented 61% of the total value, with a fleet of 364,260 small boats, of which 20% had engines; the rest were sailing boats. High seas fishing represented 28% of the industry, with whaling, coral and pearl collecting and pisciculture on land making up the rest. The high seas vessels operated in the North Pacific area (Alaska coasts), to the South Pacific. During Japanese administration, the fishing in the Kwantung leased territory was 61,000 tonnes. In 1938, the fish factory vessels packed 204,000,000 packages of crab and 370 packages of sea salmon. In the same year, four whale hunting vessels fished in the waters around the Antarctic. Factories were built in Chisima, Hokkaidō, Karafuto, Taiwan, Chosen, Kyūshū, Shikoku and other coastal areas to process fish products. The Japanese and Russian oil wells, in the same oil zone, were strictly controlled to ensure equitable exploitation. The pits stayed in direct connection with the Moskalvo port on the west coast of Ohka through a network of oil pipelines. In 1925, the Soviet Government granted Japan petroliferous and carbonaceous concessions in North Sakhalin to Mitsubishi, Itoh-Korada, Mitsui and other Japanese Companies for a period of 45 years. By Protocols and agreements signed in Moscow in May 1944, these concessions expired 26 years before the accorded time in 1970, while a new Japanese-Russian accord