This study analyzed the financial structure and capital procurement practices of fisheries enterprises and tested the determinants of capital structure. The financial structure was found to be in a very poor condition in terms of growth, profitability, and safety, with external financing through banks and secondary financial institutions forming the main sources of funds. The most significant difficulties in fund procurement were identified as insufficient collateral and inadequate loan limits. In the empirical analysis of capital structure determinants, financial data from 98 fisheries enterprises over the period 1987–1991 were analyzed. The results indicate that the capital structure of fisheries enterprises contains factors that cannot be explained by existing financial theories, and that due to the unique characteristics of business operations, these enterprises possess different financial structural characteristics from general enterprises, necessitating the implementation of separate financial policies for fisheries enterprises.