A Michelin-starred sushi restaurant group has paid over a million pounds for a tuna in the annual New Year auction, marking the second-highest price ever recorded at the event.

The Onodera Group, known for its premium sushi, secured the 276kg bluefin tuna for 207 million yen (£1.2m) after a bidding process at Tokyo’s Toyosu fish market.

The massive tuna, weighing as much as a motorbike, was the first fish to be auctioned at the market, a tradition that has become both a cultural and commercial spectacle in Japan.

“The first tuna is something meant to bring in good fortune,” Onodera official Shinji Nagao told reporters after the auction. “Our wish is that people will eat this and have a wonderful year.”

This marks the fifth consecutive year the Onodera Group has claimed the coveted top bid. The purchase is double the 114 million yen (£660,000) the group spent on the top tuna last year but still falls short of the 2019 record when Kiyoshi Kimura, nicknamed the “Tuna King,” paid 333.6 million yen (£2m) for a similar fish.

The New Year auction is steeped in tradition and symbolism, with buyers vying for the first catch as a way to bring good fortune and garner media attention. The event, held at the modern Toyosu market since 2019 after moving from the historic Tsukiji market, remains a highlight of Tokyo’s culinary calendar.

During the Covid-19 pandemic, prices at the auction dropped sharply as restrictions on dining out took a toll on the restaurant industry. This year’s high price reflects a post-pandemic recovery, with renewed confidence in the dining sector and the global demand for premium sushi.

The bluefin tuna, prized for its rich flavor and delicate texture, is considered a delicacy and a status symbol in Japanese cuisine. While the auction is largely ceremonial, the exorbitant prices paid often translate to heightened prestige for the buyers and their businesses.